Composite Industries Instructs Shareholders On Smooth And Efficient Exchange Of Certificates.Business Editors LAS VEGAS--(BUSINESS WIRE)--May 1, 2002 Composite Industries of America, Inc. (CIAI CIAI Cochlear Implant Association, Inc. CIAI Complicated Intra-Abdominal Infection CIAI Centro Italiano Aiuti per l'Infanzia (Italian: Help to Children) :OTCBB-"Composite Industries"), announced today that Composite Industries, The Depository Trust Company Depository Trust Company (DTC) DTC is the world's largest central securities depository. It accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executes book-entry deliveries (valued at over $116 trillion ("DTC DTC See: Depository Transfer Check DTC See: Depository Trust Company DTC See Depository Trust Company (DTC). ") and National Stock Transfer, Inc. ("NST NST nonstress test. NST Nonstress test, see there "), Composite Industries Transfer Agent have adopted the following procedure to insure the smooth and efficient exchange of the old Composite Industries Common Stock for the New Composite Holdings, Inc. Class A Common Stock and Series 1 Class B Common Stock: 1. Trading of the old common stock will cease at the close of business Wednesday, May 1, 2002. This will allow all trades to settle by Monday, May 6, 2002. 2. DTC will deliver to NST the Composite Industries shares held in its vault, with a listing of the holdings of their participants that have shares held by DTC. NST will return old Composite Industries certificates to DTC for delivery to their participants. 3. DTC will deliver the old Composite Industries certificates to their participants. At this time each of the participants will send the certificate received from DTC with a listing of their beneficial holders to NST. NST will issue the new Composite Holdings Class A Common Shares and Series 1 Class B Common Shares into the beneficial holders names received from the brokerage firms. At this time NST will not deliver shares in "street name" only in beneficial holder names. 4. NST will return the new Composite Holdings, Inc. Class A and Series 1 Class B shares, registered in the name of the beneficial holders, back to each of the participants for distribution to their beneficial holders. 5. Trading will resume under the new Composite Holdings, Inc. name on Wednesday May 8, 2002 For more information on CIAI:OTCBB OTCBB See OTC Bulletin Board (OTCBB). , please visit the Web site http://www.compositeindustries.com. For further information please contact Rich Kaiser of Yes International, Inc., 1-800-631-8127 Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1955: Certain information contained in this release contains forward-looking statements that involve risks and uncertainties, including but not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and market competition. |
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