SOURCE: Thomas Equipment, Inc.

October 25, 2006 14:23 ET

Thomas Equipment, Inc. Files to Withdraw From Listing on the American Stock Exchange

Shares of the Company's Stock Will Stop Trading Until Current Financial Information Can Be Provided

NEW YORK, NY -- (MARKET WIRE) -- October 25, 2006 -- Thomas Equipment, Inc. ("Thomas") (AMEX: THM) announced it filed a request with the American Stock Exchange ("AMEX") today to have its securities removed from listing on Amex. It is anticipated that Amex will grant the request and the Company's securities will cease listing in approximately 20 days. In addition, due to the Company's current inability to file a Form 10-K for the fiscal year ended June 30, 2006 or otherwise provide current financial information publicly, shares of the Company's common stock will be halted from trading commencing October 24, 2006, until such time as current information can be made available.

The Company intends to have its common stock made eligible to trade on the Over-the-Counter Bulletin Board, but a date for such trading cannot be ascertained at this time and is dependent on the Company being current in its filings with the Securities and Exchange Commission.

About Thomas Equipment, Inc.

Thomas Equipment, Inc. is an innovative and technologically advanced global manufacturer of a full line of skid steer and mini skid steer loaders as well as attachments, mobile screening plants and six models of mini excavators. Thomas distributes its products through a worldwide network of distributors and wholesalers.

Pneutech Inc. (www.pneutech.thomas-equipment.com), established in 1973, and its subsidiaries are engaged in the fluid power industry and specializes in the design engineering, manufacture and distribution of pneumatic and hydraulic systems and components for automation and motion control applications.

Pneutech has more than 10,000 active customers, primarily in the pulp and paper, aluminum plant, forestry equipment, automotive, oil and gas, heavy equipment, hydraulics, injection molding and power generation industries. The division maintains eight manufacturing and distribution facilities in Canada and has more than two hundred employees in engineering, manufacturing, distribution, sales, service, finance, administration and management.

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Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of THM could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, and such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.

Contact Information

  • Contact:
    Investor Relations
    Stock Aware, LLC
    Joel Arberman
    Managing Member
    800.910.9035
    678.755.2113
    www.stockaware.com