Ariel Way, Inc. (fka AWYI)

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Ariel Way, Inc. Announces New Acquisition Letter of Intent
Thursday August 28, 8:00 am ET


WASHINGTON, Aug. 28, 2008 (GLOBE NEWSWIRE) -- Ariel Way, Inc. (OTC BB:AWYIE.OB - News) announced today that it has signed a Letter of Intent to acquire a Florida-based signage installation and manufacturing company. The deal is expected to be accretive to Ariel Way's 2008 earnings with strong EBITDA. The transaction, which is subject to the signing of definitive agreements and customary closing conditions in addition to satisfactory due diligence and financing arrangements, is expected to close within three months. The terms of the transaction were not disclosed.
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Arne Dunhem, Ariel Way Chairman & CEO, said, ``If we are successful with the acquisition of this exciting company, that has a highly experienced management team, we believe we have come a long way towards our objective of building a nationwide Digital Signage Network. In addition, we would also be nearing a proforma annualized consolidated revenue of over $16 million with a very strong cash flow potentially exceeding $2 million on a proforma annualized consolidated basis.''

The Digital Signage Network, together with our mobile advertising campaigns, is a new platform for companies to promote and advertise products and services to targeted audiences as they shop, work and play in malls, retail stores, banks and other strategic locations.

http://biz.yahoo.com/pz/080828/149297.html