SOURCE: American-Way Business Development Corp.

October 12, 2006 15:53 ET

American Way Business Development Recalling Stock Certificates

BOCA RATON, FL -- (MARKET WIRE) -- October 12, 2006 -- American Way Business Development Corporation (PINKSHEETS: AWYB) ("AWYB" or the "Company") today formally notified NASDAQ of the details of its far-ranging corporate reorganizations. Specifically, in connection with the previously announced transaction with the Harvard Learning Centers, Inc., AWYB is changing its jurisdiction of incorporation from Delaware to Florida, changing the name of the Corporation from American Way Business Development Corporation to the Harvard Learning Centers, Inc., requesting a new NASD symbol and, most importantly, subject to meeting all NASD requirements, INSTITUTING A MANDATORY RECALL OF THE CURRENT AWYB CERTIFICATES TO BE REPLACED BY NEW CERTIFICATES WITH THE NEW NASD SYMBOL AND A NEW CUSIP NUMBER.

Don Platten, President, stated, "We did not want to do a mandatory cert recall, but reviewing the discrepancies between the NOBO list, the DTC and the shareholder list and taking into account the views of our advisers, we felt we had no choice. The advantage of this approach," Mr. Platten states, "is that once the certs are pulled, the shorts will have no place left to hide."

The other alternative available to the Company was to do a forensic audit of the shareholders, particularly the 40 or so brokerage accounts. After careful review of that option, the Company decided that that particular approach was cost-prohibitive, and some advisers warned that it was unclear whether that approach would necessarily uncover the true number of the shorts.

Mr. Platten adds, "I know that a lot of shareholders are asking for a specific number of shorts. The sad answer is that we don't know for sure but that it is clearly in the number of millions. It is hoped that the mandatory cert exchange, once it is finalized, will resolve the problem once and for all. We encourage our shareholder base to watch for updates as they occur."

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