LANGLEY, British Columbia, March 1, 2007 (PRIME NEWSWIRE) -- Nitro Lube, Inc. (Pink Sheets:NLUB),announced today that its Board of Directors has set the record date for the spinout of Easy Phone, Inc. to be the close of business on March 20th, 2007. Nitro Lube, Inc. shareholders will receive one restricted share of Easy Phone, Inc. for every four shares of Nitro Lube, Inc. they hold at that time.
Easy Phone's President, Patrick Day, stated, "I look forward to moving Easy Phone in a new direction, with a new focus on satellite phone distribution and leasing." He further stated, "We are currently conducting an audit and, once it is completed, we will file a Form 10-SB with the U.S. Securities and Exchange Commission."
About Easy Phone, Inc.
Easy Phone, Inc. is a development stage cell and satellite telephone sales and leasing company. Easy Phone was formerly a cell phone operation in Las Vegas, NV. The company's address is 4278 South 1400 West, Taylorsville, UT 84123. The company is re-constructing its web site at www.theeasyphone.com. For more information, contact: info@theeasyphone.com.
About Nitro Lube, Inc.
Nitro Lube, Inc. is engaged in the business of manufacturing and worldwide marketing of ultra performance lubricants and fuel conditioners designed to perform in extreme temperatures. All products produced and sold by NLUB contain the revolutionary "PMF 2000" formula. Nitro Lube, Inc. has offices in Langley, BC; Las Vegas, NV; and, Indian Wells, CA. Nitro Lube, Inc. maintains a website at: http://www.nitrolube.com.
This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Nitro Lube, Inc., and members of management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to expand. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.