SOURCE: Sulja Bros. Building Supplies, Ltd.

August 23, 2006 15:01 ET

Sulja Bros. Building Supplies Completes Asset Transfer

WINDSOR, ON -- (MARKET WIRE) -- August 23, 2006 -- Sulja Brothers Building Supplies, Ltd. (PINKSHEETS: SLJB) completed the asset transfer to the State of Nevada. Sulja Bros.' attorneys have paid all creditors and liens on the assets prior to the move. The balance sheet has been forwarded to auditor to complete our financials.

CEO Steve Sulja stated: "The State of Nevada has received the assets. The balance sheet has been sent to our auditor and we expect to have the audited financials completed in mid-September. We are pleased to update our shareholders of the asset and audit progress. KPMG and Price Waterhouse Coopers will complete the audit and the assets are contained in the upcoming audited financials. Our shareholders have requested an update through Marquee Asset Management and we are listening to the concerns. We continue to gain new work and have some exciting updates to be released."

This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual result may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.