LAS VEGAS, Feb. 1, 2005 (PRIMEZONE) -- Automotive Specialty Concepts, Inc. (Pink Sheets:SSWH), a leading provider of decorative car wheels, today announced that the company has been assigned a new stock symbol, AMVS (Pink Sheets:AMVS), and that the previously announced 1 for 100 reverse split of the company's common stock is now effective. The reverse split was among the changes to the company's Articles of Incorporation that were filed with the state of Nevada in early January.
Automotive Specialty Concepts President Paul Stringer commented, "We are pleased to now have a stock symbol more reflective of the company's current name and to have completed the planned re-capitalization of our common stock. These are among a series of strategic initiatives designed to facilitate the future growth of the company.
"With the Marine Wheel, the first product in our specialty military wheel line, now available for purchase as a four-wheel set at www.esportswheels.com, we also expect to see the company increase its revenues in the coming quarters," added Mr. Stringer.
About the Company
Automotive Specialty Concepts, Inc. (http://www.esportswheels.com) is a leading provider of decorative wheels, sports memorabilia and other collectable artwork for the automobile industry and car owners.
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. Automotive Specialty Concepts, Inc. undertakes no obligation to update any such statements to reflect actual events.