SOURCE: American Way Business Development Corp.

October 11, 2006 14:00 ET

American Way Business Development Corp. Announces New Direction, Rescinds Previously Announced Transaction

BOCA RATON, FL -- (MARKET WIRE) -- October 11, 2006 -- American Way Business Development Corporation (PINKSHEETS: AWYB) ("AWYB" or the "Company") hereby announces, effective immediately, the termination of the transaction with Pure Pleasure Fantasies, Inc. ("PLEASURE") announced on September 28, 2006. After a careful evaluation and completion of the due diligence, including a thorough analysis of the product line and the competitive position of PLEAURE by a national distributor, AWYB was forced to conclude that this was not the best move for the Company at this time.

Don Platten, President, stated, "We had actually finalized the deal subject to finalization of the due diligence and verifying the accuracy of the representations and warranties relating to the product line and the competitive position of PLEASURE in the industry."

Mr. Platten states, "Sometimes, when one opportunity is lost, another one comes knocking. We have been contacted by a company that seems more suitable for our business model; we are doing the necessary due diligence. We will give further details as soon as we can. This will represent a new direction for our company and we are very excited about it. Please look for further developments." Mr. Platten reiterates, "Our primary motivation has always been the well-being of our shareholders. This is why we find it so distressing that the Company's stock seems to have become the plaything of short sellers."

This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "estimates," "believes," or statements indicating certain acts (such as "may," "could," "should," or "might occur"). Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.

Contact Information