HOUSTON, Aug. 5, 2004 (PRIMEZONE) -- Coastal Holding, Inc. (Pink Sheets:CSJJ) is pleased to announce that it is initiating a stock buyback program. Under the program, shares may be purchased from time to time at prevailing market prices, through open market or unsolicited negotiated transactions, depending upon market conditions at the company's discretion. This buyback plan is in response to the company's strong conviction that the share price is undervalued at current levels. CSJJ has made significant progress in adding value to the company by acquiring a major equity interest in Vetdermal Systems Limited and planning to make a significant investment in BioSight Ltd. CEO Andrea Cortellazzi stated: "We believe that common share repurchase is an excellent means of providing and maximizing shareholder value."
For further information on BioSight Ltd., please visit the Company website at www.biosight.co.il.
For more information on Coastal Holdings Inc., please contact CEO Andrea Cortellazzi at (647) 886-2703 or visit the Company website at www.coastalholdings.com.
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.