SOURCE: S3 Investment Company

March 29, 2006 10:33 ET

S3 Investment Company Announces Progress of Shareholder Vote in Advance of Shareholder Meeting

TEMECULA, CA -- (MARKET WIRE) -- March 29, 2006 -- S3 Investment Company, Inc. (OTC BB: SEIH), an investment company with holdings doing business in the China market, today announced that there have been votes representing over 612 million shares of stock received by proxy on the proposal to be considered at the upcoming special meeting of shareholders.

For any business to be conducted at the April 5, 2006 special meeting of shareholders, holders of S3 common stock representing more than 842,156,216 votes must be reached to constitute a quorum.

S3 management continued to encourage shareholders, no matter how they vote on the proposal or how many shares they own, to participate in the process by attending the meeting or completing and returning their proxies so their votes will be counted.

"There has clearly been significant progress on reaching a quorum based on the number of votes represented by the proxies received thus far," said Jim Bickel, chief executive officer of S3 Investment Company, Inc. "While we are encouraged by the level of participation to this point, we again ask shareholders who have not yet returned their proxies to do so as soon as possible, so that a quorum can be reached and the proposals may be considered at our April 5 meeting. Delays will only prolong the process and possibly incur additional solicitation expense for the company."

Shareholders are asked to return their completed proxies by mail in the return envelope provided or send by facsimile to Transfer Online at 503-227-6874. Votes can also be taken by telephone at 1-800-454-8683 or online at

"Any shareholders who have not received a proxy and wish to vote on the proposal are asked to contact S3 Investment Company by telephone at 951-587-8072 or by email at The company will provide whatever assistance it can that so that all stockholders can participate in the voting process," added Mr. Bickel.

The proxy statement requests shareholder votes on a proposal that would authorize the Board of Directors to withdraw the company's election to be treated as a business development company pursuant to Section 54(c) of the Investment Company Act of 1940. The special meeting that will be held at the company's corporate offices on April 5, 2006 at 10:00 a.m. Pacific where the proposal will be considered and voted upon.

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About The Company

S3 Investment Company Inc. ( is a Business Development Company regulated by the Investment Company Act of 1940. S3's investment portfolio is currently comprised of two private companies. S3 holds a 100% equity interest in Redwood Capital (, which assists private Chinese companies in accessing U.S. capital markets by utilizing a network of investment banking relationships, and a 51% equity interest in SINO UJE (, a non-stocking distributor of medical and industrial high-tech products to markets throughout China.

Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.

Contact Information

  • Contact:
    Gemini Financial Communications for S3 Investment Co.
    A. Beyer
    Email Contact