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NLUB - Nitro Lube, Inc. Announces Spinout Dividend of Subsidiary
Thursday February 22, 9:15 am ET


LANGLEY, British Columbia, Feb. 22, 2007 (PRIME NEWSWIRE) -- Nitro Lube, Inc. (Other OTC:NLUB.PK - News) announced today that its Board of Directors has voted to spinout the company's wholly owned subsidiary ``Easy Phone, Inc.' (a Nevada corporation) as a partial self-liquidating dividend to its shareholders. Shareholders will receive one share of Easy Phone, Inc. for every four shares owned in Nitro Lube, Inc. (NLUB). The record date for this dividend, the new Officers and Directors and the new business direction of Easy Phone, Inc. will be announced early next week.
NLUB's President and CEO Jason Rite was quoted, ``This step, taken by our Board, is intended to reward our loyal shareholders. It also will allow Easy Phone, Inc. to continue its business under new management as a new public company.'

About Nitro Lube, Inc.

Nitro Lube, Inc. is engaged in the business of manufacturing and worldwide marketing of ultra performance lubricants and fuel conditioners designed to perform in extreme temperatures. All products produced and sold by NLUB contain the revolutionary ``PMF 2000' formula. Nitro Lube, Inc. has offices in Langley, BC; Las Vegas, NV; and, Indian Wells, CA. Nitro Lube, Inc. maintains a website at: http://www.nitrolube.com.




This press release contains statements which may constitute ``forward-looking statements' within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Nitro Lube, Inc., and members of management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to expand. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.



Contact:
Nitro Lube, Inc.
Jason I. Rite, President
1-866-539-9404
[e-mail]


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Source: Nitro Lube, Inc.