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Andros Island Sells and Splits

10 May 1999

Andros Island Hotel & Casino, Inc. has announced the sale of 1,197,420 shares of its common stock, as well as plans to forward split its common stock on a 10-for-one basis on May 31 to shareholders of record on May 25, 1999.

The common stock is being sold to Bayview Trading, Los Angeles, California and AGE Investment Co., New York, New York for $551,000 cash. The company plans to use the proceeds for possible acquisitions and working capital.

On May 31, each share of common stock will be converted into 10 shares of common stock. The forward split will reportedly require a change in CUSIP numbers (unique stock number) and a change in its trading symbol. In addition, the company said all shareholders holding certificates in their own names will be required to send the old certificates to Securities Transfer Corp., 16910 Dallas Parkway, Suite 100, Dallas, Texas 75248, Telephone 972-447-9890. Shareholders will be required to include $15 for each new certificate requested. Checks should be made payable to Securities Transfer Corp.

Securities Transfer Corp. will cancel the old stock certificate and issue the shareholder a new common stock certificate bearing the new number of shares and the new CUSIP number. The company further stated that those shareholders owning their stock in "street name" (certificates are on deposit with a brokerage firm) will not be required to take any action as the brokerage firm will be responsible to send in send in the old stock certificates.

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