SOURCE: TidalWave Holdings, Inc.

February 26, 2008 18:24 ET

TidalWave Holdings Announces Preferred Share Dividend

TALLAHASSEE, FL--(Marketwire - February 26, 2008) - TidalWave Holdings, Inc. (PINKSHEETS: TWAV) today announced a restricted preferred share dividend for common shareholders of TidalWave stock.

The dividend plan, originally outlined in a January press release regarding the Company's recent share consolidation, is an integral part to enhancing and preserving shareholder value. As proposed, managed has resolved that common shareholders of TidalWave stock receive ten (10) restricted Series 2 Preferred shares for each one (1) common share of TidalWave currently owned. The Series 2 Preferred shares are convertible into common stock at a ratio one (1) common stock for each one (1) Series 2 Preferred share.

For example, shareholders owning 100 common shares would receive 1,000 restricted Series 2 Preferred shares. After the requisite one year holding period, shareholders would therein have the ability to convert their restricted Preferred shares into 1,000 common shares.

The result of the restricted Preferred dividend would afford common shareholders additional equity in TidalWave Holdings. The company is evaluating several asset purchases that it believes will add positively to Company prospects going forward. The Company recently a completed a vital share consolidation that greatly reduced both the outstanding and 'free-trading' common shares in the marketplace.

The Company has received notice from NASDAQ Corporate Data Operations that the payment date for the restricted Preferred dividend will be February 28, 2008. This information was published through the daily list of February 26, 2008.

Safe Harbor for Forward-Looking Statements

Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results.

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