BWI (Pink Sheets: BDWT) announces that at the Board of Directors meeting August 29, 2006, the Board approved a reverse stock split of one share of common stock for each thirty shares of common stock presently outstanding. The effective date will be October 16, 2006.
The Board believes that with BWI’s present growth through acquisition strategy, the reverse stock split will solidify Budget’s strong position and generate a positive climate for increased stock marketability and liquidity.