SOURCE: American Way Business Development Corp.

October 11, 2006 09:00 ET

American Way Business Development Corp. Updates Shareholders on Initial Review of NOBO List!

BOCA RATON, FL -- (MARKET WIRE) -- October 11, 2006 -- Last week, American Way Business Development Corporation (PINKSHEETS: AWYB) ("AWYB") announced that last week the corporation had requested the Non-Objecting Beneficial Owner (NOBO) list from ADP Automatic Data Processing Inc. located at 51 Mercedes Way, Edgewood, NY 11717.

After careful consideration, the company board of directors had decided to revise the list to reflect the shareholders list as of close of business Monday, October 2, 2006. Some additional information had been obtained that the board of directors were anxious to see, and is reflected in the updated NOBO list.

The company has received the NOBO list dated October 2, 2006. After careful review, and having close contact with ADP and the transfer agent, the company has come to the following conclusion: there appear to be some major differences in the numbers reflected on the NOBO list versus the actual numbers from the transfer agent.

We are going back to specific brokers for the "last and final" counts of shareholders and number of shares held in those accounts. According to the records received, and the records of the transfer agent, there is a variance of a substantial number of shares. We feel it is in our best interest and the interest of our shareholders to have the applicable brokers try to clear up this large variance. We intend to give all parties a final chance to document and verify the numbers we have received, and if the numbers are still out of sync, the company will immediately conduct a forensic shareholder audit to determine the extent of naked short selling of AWYB!

We encourage our shareholder base to watch for updates as they occur!


Don Platten
CEO, American Way Business Development Corporation

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