SOURCE: Summus Works Inc.

August 07, 2006 09:03 ET

Summus Works Announces Special Board Meeting to Discuss Buyback of 20% of Issued and Outstanding Common Stock

DENVER, CO -- (MARKET WIRE) -- August 7, 2006 --Summus Works, Inc. (PINKSHEETS: SMMW) announced the Board of Directors will convene a special meeting to discuss a VVV proposal to buy back 20% of the Company's issued and outstanding common stock.

Management reemphasized its unwavering commitment to its VVV initiative to enhance shareholder value and affect the increase in the price per share necessary to facilitate pending and future mergers and acquisitions.

"While we are encouraged by marked progress on all business fronts and the Company's ever-increasing visibility, it remains our firm belief that SMMW's current share price doesn't adequately reflect the value and long term prospects of the company's businesses," said Summus Works President Dan Burgess.

Summus Works, Inc. (PINKSHEETS: SMMW) is a multi-media holding company with interests in outdoor sports, retail, e-tail, print, web, television and film. For more information on the company or its outdoor sports and media subsidiaries, visit www.summusworks.com.

This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

Contact Information