SOURCE: Coastal Holdings, Inc.

November 15, 2005 11:26 ET

Coastal Holdings, Inc. Announces Corporate Restructuring

HOUSTON, TX -- (MARKET WIRE) -- November 15, 2005 -- Following a review of its operating structure and functions, the Board of Directors of Coastal Holdings, Inc. (OTC: CSJJ), today announced a significant corporate restructuring. The Board has developed a restructuring plan and growth initiatives designed to sharpen the Company's focus on key investments and initiatives that it believes will contribute to improved long-term success and profitability. In particular, the Company will focus on expediting the completion of the following two acquisitions: (i) NO.3 HINES development oil well from BDT Energy Producers, Inc. and (ii) at least two Israeli high-growth technology firms that it has selected after performing due diligence on several firms in that market. The corporate restructuring will take place during the course of the next two to four months.

As a consequence of the restructuring, new officers and directors will be elected to Coastal Holdings' Board of Directors in order to ensure that the pending acquisitions are completed in short order and to effectively lead the Company forward in the execution of its strategy and the next phase of its development.

The Board also announced that, as a part of the Company's restructuring, it will divest unproductive and underperforming assets. The proceeds from the sales will be used to invest in new, high-growth projects and profitable assets that will align with the Company's revised corporate growth strategy. Further details will be disclosed to shareholders over the next couple of weeks following the appointment of the new members to the Board of Directors.

For more information please contact CEO Andrea Cortellazzi at (514) 288-9699.

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.

Contact Information