HOUSTON, Dec. 9, 2004 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ), a leading edge global technology holding company, announced today that it has passed a resolution stating that it will not perform a reverse split of its issued and outstanding shares. In addition, the Company confirmed its intention to buyback and retire a significant number of shares in the coming year. These initiatives are in line with the Company's commitment to maximizing shareholder value. CEO Andrea Cortellazzi stated: "We are taking these steps to maximize our share value and position the Company for future growth in the biotechnology industry."
For more information please contact CEO Andrea Cortellazzi at (514) 288-9699 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.