Replies to post #1022 on Grifco Inc (GFCI)

[dcbass]

News for 'GFCI' - (Grifco Begins Aggressive Stock Buy Back in The Open Market)


HOUSTON, Dec 19, 2005 (BUSINESS WIRE) -- Grifco International, Inc (Pink
Sheets:GFCI) and its board of directors have decided to embark on an aggressive
initiative to create higher stock price for shareholders. The Board has approved
up to 20,000,000 shares. Grifco has committed to buying an initial 1,000,000
(One Million) shares GFCI in the open market. This program will be effective
immediately and will continue until the price of our stock, in management'
opinion, reflects its true value based on a price to earnings ratio that would
be normal and fair to our industry.

The stock that Grifco purchases on the open market will either be retired or
Grifco will hold the purchased shares as treasury stock, and thus have the
effect of reducing the float. This strategy will increase our earning per share
and stockholders value and create a fairly represented stock value.

Grifco reserves the right to increase this buy back program. "We feel that this
is a perfect opportunity for our company to purchase our stock back at pennies
on the dollar based on the true book value," said Jim Dial, CEO of Grifco
International.

We feel supremely confident that this effort will show significant gains in
shareholder value. Our objective is to have our stock price properly reflected.