ENCINO, Calif., Dec. 29, 2004 (PRIMEZONE) -- Avenue Group, Inc. (OTCBB:AVNU) (the "Company") announced today that at the Company's 2004 Annual Meeting of Stockholders held on December 23, 2004, the shareholders approved the proposals put forth by the Company. At the Annual meeting, the shareholders re-elected the three incumbent Board nominees: Levi Mochkin, Jim Tan and Jonathan Herzog to serve as directors for a one-year term ending at the Company's next annual meeting of shareholders and their successors are duly elected and qualified. The shareholders also ratified the Company's selection of the firm Weinberg & Company P.A. as the Company's independent accountants for the year ending December 31, 2004.
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Certain information contained in this Press Release are forward-looking statements within the meaning of the Private Securities Litigation Act of 1995 (the "Act"), which became law in December, 1995. In order to obtain the benefits of the "safe harbor" provisions of the Act for any such forward-looking statements, the Company wishes to caution Investors and prospective Investors about significant factors which, among others, have in some cases affected the Company's actual results and are in the future likely to affect the Company's actual results and cause them to differ materially from those expressed in any such forward-looking statements. Actual results may differ as a result of factors over which the Company has no control, including general economic and business conditions; effects of war or terrorists acts on the capital markets or the Company's activities, including oil and gas exploration and production, competition and ability to gain market acceptance of products; success of its operating and investment initiatives; including its oil and gas exploration and drilling initiatives, operating costs; fluctuation in oil and gas prices, advertising and promotional efforts; the existence or absence of adverse publicity; changes in business strategy or development plans; the ability to retain management; its ability to obtain financing for its ongoing operations or proposed initiatives; availability, terms and deployment of capital; availability of qualified personnel; labor and employment benefit costs; changes in, or failure to comply with, various government regulations; slower than anticipated completion of research and volatility in the trading price of its securities, and other risks listed from time to time in reports filed with the Securities and Exchange Commission, which factors are incorporated herein by reference. This news release is not an offer to sell or a solicitation of an offer to buy any securities of the Company. Any such solicitation or offer may only be made through a prospectus which has been approved by the Securities and Exchange Commission in the states in which such solicitation or offer has been approved.