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Press Release Source: Prime Rate Investors, Inc.
Prime Rate Investors, Inc. Retires Stock Wednesday February 8, 8:00 am ET Announces Countdown to Steamboat TV-18 Launch
STOWE, Vt.--(BUSINESS WIRE)--Feb. 8, 2006--Prime Rate Investors, Inc. (Pink Sheets:PRRM - News) announced it is not in discussions to bring the Company private. To the contrary, Company President Dan Burgess reiterated that he is continuing to purchase Company stock on the open market. Additionally, the Company announced it retired one billion shares of outstanding common stock held by Burgess, to be returned to the Company's transfer agent and cancelled. ADVERTISEMENT
Burgess also emphasized the commitment and enthusiasm of the Company's management and employees, and urged shareholders to join in the countdown to the launch of its subsidiary and RSN broadcast affiliate Steamboat TV-18, scheduled to go on air later this afternoon. The Company will issue a press release upon the station's launch.
Prime Rate Investors (Pink Sheets:PRRM - News) is a multimedia holding company with interests in outdoor sports, retail, e-tail, print, web, television and film. For more information on the company or its outdoor sports and media subsidiaries, visit www.primerateinvestors.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including, but not limited to; the impact of competitive products; the ability to meet customer demand; the ability to manage growth; acquisitions of technology, equipment or human resources; the effect of economic and business conditions; and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contact: Prime Rate Investors, Inc. Dan Burgess, 802-253-0199 dan*highanglemedia.com www.primerateinvestors.com
-------------------------------------------------------------------------------- Source: Prime Rate Investors, Inc.
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