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Country Wide Transport Announces Payout of Final Liquidating Dividend.

Business Editors

EAST ROCHESTER, N.Y.--(BUSINESS WIRE)--Sept. 13, 2000

Country Wide Transport Services Inc. (OTCBB:CWTV) today announced payment of the third and final liquidating dividend to be made on Sept. 30, 2000, to stockholders of record on Sept. 21, 2000.

The final liquidating dividend will be 5 cents per common share.

The board of directors directed this payment pursuant to approval of a plan of liquidation by stockholders on July 30, 1999. This liquidation is a result of the asset sale of the company's only operating subsidiary, Vertex Transportation Inc., to the C.H. Robinson Co., which was closed on Aug. 2, 1999.

The payment of this final liquidating dividend of 5 cents per common share will result in a total paid dividend of 95 cents per common share. After this final payment, the company will have no value and will complete the liquidation process.

These distributions are considered liquidating dividends. Stockholders should consult with qualified tax consultants to determine the tax effect of these distributions.
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Publication:Business Wire
Date:Sep 13, 2000
Words:169
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