SOURCE: ADCapital Industries

May 05, 2006 09:00 ET

/ CORRECTION - ADCapital Industries

BURNABY, BC -- (MARKET WIRE) -- May 5, 2006 -- In the news release, "ADCapital Announces 1 for 10 Reverse Split," issued Wednesday, 05/03/2006, by ADCapital Industries (OTC: ADCS), we are advised by the company that the second-to-last sentence of the release should read "The Board of Directors has authorized the Company to proceed with the reverse stock split and has set the split ratio at one share of post-split common stock for every fifteen shares of pre-split common stock," rather than "The Board of Directors has authorized the Company to proceed with the reverse stock split and has set the split ratio at one share of post-split common stock for every ten shares of pre-split common stock" as originally issued. Also, the last sentence of the release should read "The record date for the reverse split will be May 19, 2006" rather than "The reverse stock split will take effect at 11:59 p.m. on May 15, 2006." Complete corrected text follows.


ADCapital Announces 1 for 10 Reverse Split

VANCOUVER, BC -- 05/03/2006 -- ADCapital U.S. Inc. (OTC: ADCS) today announced that its board of directors approved a proposal to effect a reverse stock split of its common stock at a special board meeting held on April 24, 2006. The Board of Directors has authorized the Company to proceed with the reverse stock split and has set the split ratio at one share of post-split common stock for every fifteen shares of pre-split common stock. The record date for the reverse split will be May 19, 2006.

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