Citadel Dividend-in-Kind Distribution Date Changed

Citadel Environmental Group in Thousand Oaks said the record date for its dividend-in-kind distribution to its common-stock holders has been changed from July 1 to July 17.

All other provisions of the distribution remain the same.

The dividend will be in the form of one newly issued Performance Convertible Preferred Share of Alliance Medical Corp. for each six shares of Citadel common stock. A Citadel spokesman said that Citadel owns 20% of Alliance.

The dividend date will be after the distribution is approved by the Securities and Exchange Commission. Prior to distribution to Citadel shareholders, the Alliance shares will be held in escrow.

Citadel is a publicly traded holding company established to acquire controlling interests in progressively managed private businesses with opportunities for significant growth and market share.