VANCOUVER, British Columbia, Jan. 31, 2006 (PRIMEZONE) -- As per Wataire Industries Inc.'s (Pink Sheets:WTAF) press release dated January 17,2006 regarding a proposed forward one for two stock split, all documented shareholders of Wataire Industries have been sent shareholders proxies. As stated in the release, the proposed stock split is subject to shareholder approval.
P. Fraser, President of Wataire Industries states, "The proposed forward stock split is part of the companies ongoing efforts to improve trading liquidity, broaden ownership and enhance shareholder value."
In preparation for the shareholders proxy, the company has discovered a very serious discrepancy in the shareholders lists retrieved from the DTC, ADP and First American Heritage Transfer Corp.
The company will release details as they become available to our shareholders.
In the short term the company would like to advise all stockholders to ensure that they receive delivery of any shares they purchase, and that their stock is not being borrowed without authorization.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.