VANCOUVER, British Columbia, March 28, 2006 (PRIMEZONE) -- Wataire Industries, Inc. (Pink Sheets:WTAF) is issuing an urgent clarification of the workings of the forward split dividend declared for all shareholders of record as of March 24, 2006.
Legal counsel for Wataire Industries, Inc. Len Aronoff wishes to call to its shareholders attention the following information regarding the NASD 11 140 which governs forward splits. The NASD considers the effective date of the forward split March 28, 2006 the date by which the majority, if not all, of the dividend shares will be either electronically forwarded or mailed. The price of Wataire (WTAF) will be reduced by 50% as of the start of trading March 29, 2006.
Unfortunately, all shareholders who sell shares prior to March 28, 2006 will lose their right to the forward split. All shareholders purchasing shares prior to March 28, 2006 will gain a share for each share purchased prior to that date.
Any shareholders who have sold shares on March 27, 2006 based on inaccurate information are requested to contact the company's legal counsel Len Aronoff at 407 277 4565 immediately.
On behalf of the Board Phil Fraser President & CEO
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