SOURCE: Russell Industries, Inc.

July 06, 2006 10:52 ET

Russell Industries to Become Fully Reporting OTCBB Company

HOUSTON, TX -- (MARKET WIRE) -- July 6, 2006 -- Russell Industries, Inc. (PINKSHEETS: RSLI) announced today that it has begun the process of becoming fully reporting and upgrading its classification to Bulletin Board. "Russell Industries can reach a greater investor audience, further its strategic goals and enhance shareholder value by having the opportunity to have its stock quoted as a fully reporting OTC:BB," said Rick Berman, CEO of Russell Industries. "We have the infrastructure in place to make this move and I believe it is an important step for us to take as we begin to execute the early phase of our strategic business plan."

Russell Industries was cleared for PK quotation on April 6, 2006. The company's symbol is RSLI. The company is headquartered in The Woodlands, Texas and has a wholly owned subsidiary that will serve as the operating company located in Sheridan, Wyoming. The President and CEO of the company is Rick Berman.

The company is in the oil and gas exploration services industry. RSLI is continuing development of a patented water treatment process that has been discharged in oil and gas exploration. The process makes the water safe for disposal back into the environment. The company has focused on testing in the Powder River Basin of Wyoming and Montana where Coal Bed Methane (CBM) exploration is prominent. The company has leased additional technology from Lawrence Livermore Laboratories, the leading U.S. Department of Energy research laboratory. By combining technologies, RSLI's prototype is able to remove sodium, barium arsenic and any other contaminant containing a positive or negative ionic charge. The end user of this technology is any oil gas exploration entity that has to apply for permit to drill and subsequently has to present a plan to any Department of Environmental Quality or regulatory agency to show how discharged water will be treated. RSLI CEO commented, "After evaluating the results of further testing during 2006 and the first quarter of 2007 the company will make a decision as to whether to commercialize, lease or sell its technology to the market." Also the CEO expressed that, "Russell Industries plans to grow aggressively by making strategic acquisitions of companies with present cash flows that will be immediately accretive to the company's bottom line. The shareholders are and will remain the company's number one focus."

About Russell Industries, Inc.: Russell Industries, a Nevada Corporation, was incorporated in 1997. From its inception until 2005 the Company engaged in locating and developing base and precious metals and waste stream reclamation. In May 2005 the Company's founders elected new management with a strong background in the securities, financial, energy and healthcare industries. New management quickly restructured the organization and guided Russell Industries through a successful 15(c)2-11 registration for Pink Sheet quotation. The new Russell Industries is a holding company for assets in the energy industry. Market and economic conditions being what they are, we feel energy is a great marketplace to focus our efforts for the immediate future.

Safe Harbor

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. The Pink Sheets does not require companies whose securities are quoted upon its systems to meet any listing requirements. With the exception of a few foreign issuers, the companies quoted in the Pink Sheets tend to be closely held, extremely small and/or thinly traded. Most do not meet the minimum listing requirements for trading on a national securities exchange, such as the New York Stock Exchange or the NASDAQ Stock Market. Many of these companies do not file periodic reports or audited financial statements with the SEC, making it very difficult for investors to find reliable, unbiased information about those companies. For all of these reasons, companies quoted in the Pink Sheets can be among the most risky investments. That's why you should take extra care to any company quoted exclusively in the Pink Sheets. Be aware that some broker-dealers are required by SEC Rule 15c2-11 to have some information about the issuer. Ask your broker-dealer whether it has any Rule 15c2-11 information before you invest.

Contact Information

  • Contact:
    Rick Berman
    Russell Industries
    66 Mill Point Place
    The Woodlands, TX 77380
    Tel (713) 446-7231
    Fax (281) 298-9055