Company contact: Dan Burgess:
new ticker SMMW as of 02/28/2006
Prime Rate Investors, Inc. Announces Name Change To Summus Works, Inc.; No Reverse Split
PRIME RATE INVESTORS, INC. ANNOUNCES NAME CHANGE TO SUMMUS WORKS, INC.; NO REVERSE SPLIT
Prime Rate Investors, Inc. (Pink Sheets:PRRM) announced it is changing the Company's name and ticker symbol to more accurately reflect the nature of the company throughout the outdoor sports and multi-media industries. The Company had previously invited shareholder suggestions and ultimately chose "Summus Works(TM), Inc.," the submission of a shareholder who, accordingly, won a weekend ski trip from the Company. The word "summus" is the Latin root of "Summit" and means literally "the highest, uppermost, the top."
"We are excited about the name change, and the relevance and import it carries as we attain greater visibility throughout the investment world, and our industries," said President and CEO Dan Burgess.
The name and ticker symbol change will take effect upon finalization of all pertinent legal filings. Additionally, management confirmed there will be no reverse split upon completion of the name and ticker symbol change.
Prime Rate Investors (Pink Sheets: PRRM) is a multi-media holding company with interests in outdoor sports, retail, e-tail, print, web, television and film. For more information on the company or its outdoor sports and media subsidiaries, visit www.primerateinvestors.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.