BOCA RATON, Fla., Sept. 15, 2006 (PRIMEZONE) -- Best Rate Travel, Inc. (Pink Sheets:BRTV) announced today an action representing more than 50.5% of the outstanding common stock of the Corporation approving a reorganization plan that includes a 1:1000 reverse split of its common shares effective September 25, 2006. Post reverse split, one (1) common share may be exchanged for one thousand (1000) current, pre-reverse split, common shares. The reverse split will be effective ten "10" days after this announcement.
A reverse stock split is a reduction in the number of outstanding shares of a class of a corporation's capital stock, which may be accomplished by the Company, in this case, by reclassifying and converting all outstanding shares of our common stock into a proportionately fewer number of shares of common stock.
Mr. Stone states that "This action should make Best Rate Travel more attractive to investors and reduce shareholder risk."
About Best Rate Travel, Inc.
Best Rate Travel, Inc. (Pink Sheets:BRTV) is a broadband mobile content provider. The company, through its subsidiary CHL Technologies, Inc., provides entertainment and enterprise information management solutions for the wireless content market in the United States and internationally. The Best Rate Travel USA, Inc. subsidiary delivers clients everything they need for researching, planning, purchasing a trip and post-sale support anytime, anywhere in the world via mobile devices, Internet and traditional brick and mortar offerings. In addition, the company, through another subsidiary, RFTune, Inc., operates as a fabless radio frequency integrated circuit manufacturing company offering wireless system, chip design, and integrated circuits.
More information about Best Rate Travel can be found at: http://www.bestratetravel.net
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; the uncertainty of the Internet and e-commerce market; including the travel and research and development of technology moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.