SOURCE: Beneficial Holdings, Inc.

Beneficial Holdings, Inc. (Pink Sheets: BFHJ)

March 01, 2010 12:32 ET

Beneficial Holdings, Inc. Clarifies Tentative Dividend Ex-Date for Six Share Dividend

LAS VEGAS, NV--(Marketwire - March 1, 2010) -  Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), a casino and hospitality investment and management holding company, previously announced its intention to issue a share dividend of 6 shares of free trading common stock for every 1 share of unrestricted common stock that a shareholder owns (holders of restricted shares will receive restricted certificates). This means that the shareholder will have 7 shares of common stock after the dividend for every 1 share currently held.

The Company issued a resolution directing that the ex-date for the dividend will be March 5, 2010. The Company requested that the shares be prospectively distributed on March 10, 2010.

This means that shares must be settled by March 5, 2010 to receive the dividend. There is a three day settlement period that may affect the ability to receive the dividend.

However, the Company notes that these dates are tentative in nature and subject to approval by FINRA. In the event that FINRA cannot perform their review in time for the March 10 date, the distribution may be delayed; however, the ex-date may not be delayed. For instance, FINRA may direct the distribution to occur later, but that shareholders from March 5, 2010, receive the dividend. (This does not mean FINRA will approve the ex-date, but the Company reviewed examples of nunc pro tunc ex-dates and believes the ex-date may be honored despite their review process and a potential later distribution of shares).

The ex-date is the date you must have settled your positions to receive the dividend. This will not be treated as an ordinary forward split, so shareholders must factor in the settlement times for the ex-date when deciding when to purchase or sell their shares. In the event that the Company is notified of any changes, it will advise shareholders promptly.

The purpose of the dividend is to provide liquidity to our stock. Presently, our stock is being manipulated by verified short sale tactics. On some days, over 70% of our trading is from short selling. We believe that added liquidity may alter the program of the broker-dealers involved.

In the interim, the Company is moving forward with its acquisition strategy. It's hotel will be open shortly and additional gaming locations acquired.

ABOUT BENEFICIAL HOLDINGS, INC.

Beneficial Holdings, Inc. is an international casino investment and management holding company, specializing in acquiring undervalued gaming assets. The Company presently maintains one hotel and two physical gaming properties and is in the process of acquiring a third property while creating its online casino. The company funds its acquisitions with private investment capital with the intent to increase shareholder value while building a world-class gaming operation.

The Company's authorized shares are 903,000,000 to accommodate the six share dividend. Presently, there are 89,587,907 restricted shares, which will increase to 627,115,349 after the six share dividend. There are no more than 39,412,093 free-trading shares presently, which will be a maximum of 275,884,651 free-trading shares post-dividend. 

This release does not constitute an offer of securities for sale. It contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause results to differ. Statements are based on information available as of today and the company undertakes no obligation to update any statement to reflect future occurrences.

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