HOUSTON, Dec. 1, 2004 (PRIMEZONE) -- Coastal Holdings, Inc. (Other OTC:CSJJ.PK - News), a leading edge global technology holding company, announced today that it has retracted from its prior decision to acquire an equity interest in Efoora, Inc. Based on further analysis, CSJJ has concluded that at the present time an investment in Efoora is not in the best interests of the Company and its shareholders. The original decision was based on the advice of the Legal Department and failed to take into account pertinent information on Efoora that was exposed to CSJJ by several of its major shareholders.
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In response to the recent drop in the stock price, the Company would like to assure shareholders that there has been no fundamental change in its financial position. CSJJ is planning to release financials on one of the investments in its portfolio, Vetdermal Systems Limited, in the coming week that will display the financial strength and viability of the Company. CEO Andrea Cortellazzi stated: ``Management is confident that our technology investment portfolio will significantly add to shareholder value and will ultimately be reflected in the stock price. Further details on our current holdings and planned acquisitions will be released in the coming month.''

For more information please contact CEO Andrea Cortellazzi at (514) 288-9699 or visit the Company website at http://www.coastalholdings.com.

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

Contact:
Coastal Holdings, Inc.
CEO Andrea Cortellazzi
Ph. (514) 288-9699
E-mail: aandre005@sympatico.ca
URL: www.coastalholdings.com