Roanoke Technology Corp. Reiterates Policy on Stock Buy Back Of Up To $2 Million Using Bond Funds

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High-Tech Writers ROANOKE RAPIDS, N.C.--(BUSINESS WIRE)--RNKE-- Roanoke Technology Corp. (OTCBB:RNKE) reiterates, without reservation, that the policy mentioned previously on the buy back of company stock in the open market is firm and will be implemented promptly on receipt of funds from the sale of the $12 million bond. The plan for fund utilization, which will be pursued when the sale of the bond is completed in three to four weeks, allows for up to $2 million to be used for stock buy back. RNKE C.E.O., Mr. David Smith added, "I intend to personally supervise the buy back of our stock to ensure that maximum value is obtained and hopefully this will also reduce significantly the `shorting' that continues to occur." Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. KEYWORD: NORTH CAROLINA INDUSTRY KEYWORD: TELECOMMUNICATIONS SOFTWARE NETWORKING E-COMMERCE INTERNET SOURCE: Roanoke Technology Corp. CONTACT INFORMATION: Roanoke Technology Corp., Rocky Mount, N.C. David L. Smith, 252/428-0200