HOUSTON, Sept. 9, 2004 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ) is pleased to provide further details on its stock buyback program, as announced in the August 5 press release. The company intends to repurchase up to an aggregate maximum of 100,000,000 shares of common stock by the end of the fiscal year, December 31. All repurchased shares of common stock will be retired and cancelled by the company, which will decrease both the issued and outstanding and authorized number of shares of the company's common stock. The company expects to publish the results of the repurchase plan from time-to-time.
"We feel that the stock buyback program demonstrates to our shareholders that we believe in the company and its future," said Andrea Cortellazzi, CEO of the company.
For more information please contact CEO Andrea Cortellazzi at (647) 886-2703 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.