Expo Holdings Inc. (EXPH)

[GamblerNC]

NEWS................................NEWS..............

Expo Holdings, Inc. Provides Corporate Update
Date : 10/08/2008 @ 1:56PM
Source : MarketWire
Stock : Expo Holdings, Inc. (EXPH)
Quote : 0.0022 -0.0002 (-8.33%) @ 11:55AM


Expo Holdings, Inc. Provides Corporate Update

NORTH WILKESBORO, NC -- (Marketwire) -- 10/08/08 -- Expo Holdings, Inc. (PINKSHEETS: EXPH), a holding Company which wholly owns D&D Displays, Inc., provides shareholders with a corporate update, and discusses strategy to protect the company against the current credit crises affecting global markets.

The company would like to reassure investors that its $1M credit facility with Crestmark remains intact and unaffected by the current credit crises.

Overall, the company still has sufficient access to credit to keep its incoming orders flowing. The company's milestone project has its first deliveries scheduled for October 15th totaling over $100,000.

The company will reduce debt through the issuance of up to 20,000,000 shares of common stock. The reduction in debt will strengthen the balance sheet and reduce exposure to future tightening of credit.

The company has also entered into negotiations with an institutional investment firm, which has shown interest in acquiring a 51% controlling stake in the company through restricted preferred stock. The company will provide more details as negotiations proceed forward. Existing shareholders have the highest consideration in these negotiations. This agreement is still in the early stages of negotiations and is not near any decision point by the company.

James D. Brown, Expo Holdings CEO, stated, "I have spoken personally to the Vice President of Crestmark; our $1M line of credit remains intact and secure with no loss or reduction expected. I also want to reassure our shareholders that our outlook continues to remain very strong in light of the current credit problems facing our Nation. The investment firm we are negotiating with already has a substantial position in our common stock.

The closing of this deal could have a significant positive impact on the company. It will also give us the working capital needed to launch our expansion plans and seek a listing on the OTC-BB. I do apologize for the delays in providing audited financials, but the company decided to tighten its spending until a clearer financial horizon could be obtained."

Additionally James D. Brown stated, "We will continue to closely monitor the current credit crisis and financial markets. We will update shareholders immediately on any positive or negative impact on the company as a result of credit conditions."



About Expo Holdings, Inc.




http://www.expoholding.com



Expo Holdings operates in North Wilkesboro, NC. D&D Displays is a wholly owned subsidiary of Expo Holdings, which specializes in custom cabinetry and high end store fixtures for retail vendors such as Newell-Rubbermaid, Inc., Bosch Tool Corporation, Kronotex, USA, and S&K Men's Wear. D&D Displays has been in operation since 2000 and joined Expo Holdings in 2006.




This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.


Contact:

Chad Sykes

Investor Relations

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