SOURCE: Market 99 Ltd.

November 13, 2007 13:45 ET

Market 99 Board of Directors Vote Against Reverse Stock Split

DALLAS, TX--(Marketwire - November 13, 2007) - Market 99 (PINKSHEETS: ECFL) announced today that after lengthy discussions with the company's consultants and legal counsel there will not be a reverse split in the company's stock. The Board of Directors has concluded at this time that a decision to do a reverse split would be very destructive to the future of Market 99. "After many considerations our Board of Directors believes that by executing a reverse split we would only be taking away from our current shareholders and nothing positive would be gained," stated Desmond Milligan, CEO of Market 99.

Market 99 officials plan on meeting in 2008 to revisit and discuss the possibility of a reverse split. Jason Brola, COO of Market 99, stated, "We are absolutely excited about our decision and we truly believe we are creating trust that will soon allow us to attract larger investors in our young company."

Brola further stated, "Now that we have decided to leave the current share structure in place, we can get on with the fun and exciting part of our business which is opening additional store locations, growing our company revenues, and expanding our market presence."

ABOUT US

Market 99 is a discount retailer with 15,000-20,000 square foot stores selling mainly name brand merchandise to value-conscious consumers. Market 99 carries Consumables, Health and Beauty Aids, Stationery Items, House wares, Cold Foods, Frozen Foods, Women's Accessories, Women's Clothing, Men's Clothing, Children & Infant's Clothing, Seasonal, Arts & Crafts, and Toys, all for .99 cents or less.

http://www.market99.myphotoalbum.com/ Please visit www.ecflinvestor.com for additional information.

Disclaimer:

CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements," which are statements related to future, not past events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.

Contact Information

  • Contact
    Market 99, Ltd.
    Desmond Milligan
    214.208. ECFL (3235)
    Email Contact