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Summit Property Group Inc. to Change Name; Name Change to Avoid Confusion with NYSE Company.


Business Editors

CLEARWATER, Fla.--(BUSINESS WIRE)--April 30, 2001

Pinnacle Business Management (Pink Sheets:PCBM PCBM Phenyl C61 Butyric Acid Methyl Ester
PCBM Passive Common Berthing Mechanism (NASA/ISS)
PCBM Physics Chemistry Biology Mathematics (college courses) 
) and Summit Property Group today announced that on April 25, 2001, the board of directors of Summit Property Group approved a change of the company's name.

The name change became necessary when it was brought to the company's attention that the name Summit Property Group Inc. created confusion with Summit Properties (NYSE NYSE

See: New York Stock Exchange
:SMT (1) (Surface Mount Technology) See surface mount.

(2) (Station ManagemenT) An FDDI network management protocol that provides direct management. Only one node requires the software.

SMT - Station Management
), an unrelated entity and registrant An individual or organization that signs up (registers) for a training class or service. See domain name registrar. . Neither Summit Property Group Inc. or Pinnacle Business Management Inc. has any connection with Summit Properties Inc. The company is checking name availability and expects to announce the new name on or before May 4, 2001.

Shareholders and beneficial owners of Summit Property Group will have until May 30, 2001, to surrender their stock certificates to the transfer agent, Anthony Valinoti of Mandalay Stock Transfer, in exchange for new certificates.

Beneficial owners are defined as any person or entity entitled to the benefits of ownership of stock, even though the actual shares may be registered in the name of a retail broker or other institution (street name). Shareholders are encouraged to have stock certificates issued in their own names, rather than in the name of the retail broker or "street name."

Any stock certificates issued in the name of Summit Property Group Inc. not presented prior to the May 30, 2001, expiration day will become null and void and, under Nevada state law, the beneficial owner of such shares may lose certain rights as a stockholder.

Summit Property Group is notifying the transfer agent that it has taken these steps in order to clear any confusion with the name of Summit Properties Inc., a NYSE trading entity.

Summit Property Group is instructing the transfer agent to issue the new stock certificates in the specific name of each "beneficial owner" rather than in the name of a retail broker or the "street name." The stock certificates in the new name will be issued for all current requests for Summit Property Group stock, after the May 4, 2001, name change.

Summit Property Group is requesting a list from the transfer agent of all beneficial owners of PCBM. The list must contain a detailed and specific listing of every beneficial owner, including the number of Pinnacle Business Management shares they owned as of Feb. 27, 2001. This is the ex-dividend date Ex-dividend date

The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend.
 for the Summit Property Group stock dividend. A dividend of 1 share of Summit Property Group was issued for every 100 shares of PCBM to the shareholders of record on March 2, 2001.

This list should enable the transfer agent to perform the renaming and exchange of Summit Property Group stock certificates.

Any stock certificates not properly exchanged through the transfer agent by May 30, 2001, will become null and void. This is per Nevada Revised Statute sec. 78.250, which operates to suspend the rights of shareholders until compliance, and under Nevada Revised Statute sec. 78.235, whereby beneficial shareholders who have failed to surrender their shares for exchange, or have failed to cause their brokerage firms to identify them as shareholders of record, will not be entitled to the declared dividend declared dividend

A dividend authorized by a firm's board of directors. At the time a dividend is declared, the firm creates a liability for the dividend's payment.
.

Shareholders may contact their brokers for clarification of their beneficial ownership.

For further information, shareholders are advised to contact the transfer agent who is processing this exchange. Valinoti may be contacted at: Mandalay Stock Transfer, 3750 South Jones Blvd., Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , NV 89103. The telephone number for Valinoti is 702/221-8875 and his fax is 702/221-8861.

About Pinnacle Business Management

Pinnacle Business Management (Pink Sheets:PCBM) commenced operations in 1996 in Florida. The company operates Fast PayCheck Advance, a firm that offers instrument-for-instrument paycheck advance transactions. Fast PayCheck Advance is licensed to operate in nine states. The company also operates the All Pro Group of Companies, a collection of interrelated in·ter·re·late  
tr. & intr.v. in·ter·re·lat·ed, in·ter·re·lat·ing, in·ter·re·lates
To place in or come into mutual relationship.



in
 business in western Pennsylvania Western Pennsylvania consists of the western third of the state of Pennsylvania in the United States.

Pittsburgh is the largest city in the region, with a metropolitan area of about 2.4 million people, and is the cultural center for Western Pennsylvania.
 that includes several automobile and telecommunications entities.

For more information, call Cynthia Mandel at 954/973-3493.

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.
 for Forward-Looking Statements: Except for historical information contained herein, statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of 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 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from the forecasted results. These risks and uncertainties, include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , imprecision im·pre·cise  
adj.
Not precise.



impre·cisely adv.
 in estimating product reserves and the company's ability to replace and expand its holdings.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Apr 30, 2001
Words:758
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