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Big Apple Worldwide, Inc. to Retire 1 Billion Shares 2/7/2006
NEW YORK, NY, Feb 07, 2006 (MARKET WIRE via COMTEX) -- Big Apple Worldwide, Inc. (OTC: BPWW) is pleased to announce that their Board of Directors has approved the retirement of 1 billion shares, representing a total of approximately 50%. This is the first step in a process designed to increase shareholder value.
"We believe that the retirement of shares will add incredible value for our shareholders. Further, this restructuring will reflect a share price that is more truly representative of the actual value of Big Apple Worldwide, Inc.," stated Neal Jablon, President of Big Apple Worldwide, Inc.
As previously announced, Big Apple Worldwide, Inc.'s wholly owned subsidiary, Big Apple Wallcovering, Inc., has received a purchase order from the Helmsley Park Lane Hotel to furnish custom wallcoverings for each guest room and bath of their prestigious South Central Park, NYC property. The initial purchase order is for $66,000. The management of Big Apple Wallcovering, Inc. also expect an additional purchase order to supply the Lobby wallcovering.
For more information about Big Apple Worldwide International, please visit the Big Apple Worldwide web site at http://www.bigappleworldwide.com.
About Big Apple Wallcovering, Inc.
Big Apple Wallcovering, Inc., a wholly owned subsidiary of Big Apple Worldwide, Inc. has inspired the Architectural & Design community with cutting-edge design in the manufacturing of fine Architectural Wallcoverings and Fabrics for hospitality, private offices and commercial interiors. The Company's reputation for design and craftsmanship continues to enhance interiors with an elegant and intelligent portfolio of products.
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