Nuvo Network Management Inc.

Nuvo Network Management Inc.

March 15, 2005 09:48 ET

NUVO Announces Anticipated Date of Stock Consolidation: New Stock Symbol on TSX Venture Exchange to be NVO


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: NUVO NETWORK MANAGEMENT INC.

TSX VENTURE SYMBOL: NNM

MARCH 15, 2005 - 09:48 ET

NUVO Announces Anticipated Date of Stock
Consolidation: New Stock Symbol on TSX Venture
Exchange to be NVO

OTTAWA, ONTARIO--(CCNMatthews - March 15, 2005) - On January 26, 2005,
the shareholders of NUVO Network Management Inc. (TSX VENTURE:NNM), a
leading managed services provider for solutions that Maximize IT®
availability and performance for business profitability, approved a
special resolution providing the company's Board of Directors with the
authority to implement a share consolidation on the basis of one new
common share for every six common shares currently issued and
outstanding.

NUVO has filed the documentation required to implement the consolidation
and anticipates that its common shares will begin trading on a
consolidated basis on the TSX Venture Exchange on March 17, 2005.

The stock consolidation affects all of the company's common shares and
stock options outstanding immediately prior to the effective date of the
stock consolidation. The stock consolidation calls for no fractional
shares to be issued. Accordingly, the company will round shares to the
nearest whole share in lieu of fractional shares. The authorized
capitalization of NUVO remains unchanged. At the close of business on
March 15, 2005 there were 175,343,698 common shares issued and
outstanding.

NUVO's new stock symbol after the stock consolidation will be NVO.

About NUVO

NUVO provides remote management and protection of IT infrastructures for
businesses worldwide to maximize the availability of their computing
infrastructure. NUVO enables our customers to excel by delivering fully
integrated, proactive management services and business data. This
provides the critical information needed for effective analysis and
decision-making to maximize performance and control costs. NUVO achieves
this through certified experts, best-of-class technology, deep
integration, highly automated processes, and best practices in a 24x7,
resilient infrastructure. www.nuvo.com.

Forward-Looking Statements

Certain statements included in this press release are forward-looking
and are subject to certain risks and uncertainties. The results or
events predicted in these statements may differ materially from actual
results or events. Factors that may cause results or events to differ
from current expectations include, but are not limited to, those set out
on NUVO's website at http://www.nuvo.com/news/fls.html.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Carl Smith
    Chief Financial Officer
    (613) 726-5036
    The TSX Venture Exchange has neither approved nor disapproved the
    content of this press release.