SOURCE: CLX Investment Company, Inc.

April 13, 2007 09:15 ET

CLX Investment Company Files Preliminary Proxy Material for Annual Meeting With Proposed BDC Withdrawal

TEMECULA, CA -- (MARKET WIRE) -- April 13, 2007 -- CLX Investment Company, Inc. (OTCBB: CLXN), a diversified investment fund, has filed preliminary proxy solicitation material for an upcoming annual meeting of shareholders. One of the proposals to be considered at the annual meeting is an authorization for the Board of Directors to withdraw the company's election to be regulated as a business development company (BDC) pursuant to Section 54(c) under the Investment Company Act.

Definitive proxy material, which will include a specific meeting date, can be filed after a minimum 10-day period. Once the definitive proxy material has been filed, a mailing will be sent to shareholders of record as of the record date of the filing.

The Board of Directors of CLX has determined that given the company's current status and its potential as an operating company, it would be in the best interests of the company to withdraw CLX's BDC election at this time.

"Management strongly believes that CLX can make significant strides once it focuses its efforts on operations within the public company itself, rather that fostering the growth of multiple companies in an investment portfolio," stated Robert McCoy, chief executive officer of the company. "There are a number of very attractive operating companies that will be potential targets for acquisition by CLX, and we look forward to making one of these entities the primary focus of the company's operations. We believe that executing this strategy will present better opportunities to build value for CLX shareholders as opposed to functioning within the rather restrictive framework of the 1940 Act."

In addition to the BDC withdrawal, shareholders will also be voting on proposals to elect the Board of Directors to serve until the next annual meeting, to ratify the appointment of HJ Associates & Consultants, LLP as the company's independent public accountants for the fiscal year ending September 30, 2007, to ratify the appointment of Parson Law Firm as the company's general counsel, and to transact such other business as may properly come before the meeting.

"We look forward to gaining approval for the BDC withdrawal so that the next stage of the company's development can be embarked upon," stated Mr. McCoy.

As a part of its anticipated structural change and the re-focus on operations within the company, CLX is also expected to begin a more active market communications program in order to articulate these changes to shareholders and the broader public markets.

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About CLX Investment Company

CLX Investment Company ( holds a 31% equity interest in Zonda, Inc. ( CLX has also invested, and holds a common stock position, in ActionView International, Inc. (, a publicly traded global manufacturer and marketer of "smart" scrolling advertising billboards. CLX has elected to be regulated as a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940, and is pursuing a business plan wherein the Company seeks to make investment in developing companies with the goal of providing return for its shareholders.

All statements included in this release, including statements regarding potential future plans and objectives of CLX Investments are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Investments' control. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements depending on many factors. Historical results are not necessarily indicative of future performance.

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