HOUSTON, Jan. 6, 2005 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ), a leading edge global technology holding company, announced today that it has retired 1,666,666,668 shares to the Company's treasury, thereby reducing the total number of issued and outstanding shares. The restricted shares were originally issued to fund one of the Company's major investments in lieu of cash. CSJJ is pleased to report that it has accumulated the required cash to fund the investment and has financed the transaction as such in place of the original restricted shares. CEO Andrea Cortellazzi stated, "The retiring of these restricted shares is definitely a positive development for the company that will add significant shareholder value."
For more information please contact CEO Andrea Cortellazzi at (514) 288-9699 or visit the Company website at www.coastalholdings.com.
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.