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American Way Business Development Corp. Shareholder Update

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BOCA RATON, FL, Oct 03, 2006 (MARKET WIRE via COMTEX) -- American Way Business Development Corporation (PINKSHEETS: AWYB) ("AWYB" or the "Company") announces that AWYB last week requested the Non-Objecting Beneficial Owner ("NOBO") list from American Data Processing Inc. located at 51 Mercedes Way, Edgewood, NY 11717 ("ADP"). ADP has already begun to process the request and is currently awaiting responses from banks and other institutions. The Company expects to receive the report early next week and will release the aggregate data as soon as possible after receiving the report.
As part of the ongoing restructuring of the Company, AWYB is planning an authorized share reduction from the current 60 billion shares authorized to 100 million shares. The current share structure is 12.8 million shares outstanding, the majority of which are restricted and NOT FREE-TRADING.
Mr. Platten states, "Our primary motivation has always been the well-being of our shareholders. This is why we find it so distressing that the Company's stock seems to have become the plaything of short sellers." For anyone carrying shorts and those AWYB shareholders with questions, please contact Don Platten, AWYB president, via e-mail at [e-mail] or at our corporate office number, 561-962-4124.
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," "estimates," "believes," or statements indicating certain acts (such as "may," "could," "should," or "might occur"). Such forward-looking statements involve certain risks and uncertainties. The actual results 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.
Contact: American Way Business Development Corp. Don Platten 561-962-4124 [e-mail] http://www.americanwaybd.com
SOURCE: American Way Business Development Corp.
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