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QBIT (.0160) Completes Filing for 10-1 Forward Split of Its Common Stock


HOUSTON, TX -- (MARKET WIRE) -- 08/18/06 -- Quantum Bit Induction Technology Inc. (PINKSHEETS: QBIT) announced today that the process for the forward split of its shares of its common stock, 10-to-1, has been completed with a record date of August 28, 2006. The anticipated effective date will be on or about August 31, 2006.

For more information on QBIT and it's projects visit our website at http://www.quantumbit.com.

The statements in this press release are not forward-looking. Anyone considering QBIT common share ownership should first understand the company.

Contact: Peter McCain Office Phone: 281-531-5550 Website: http://www.quantumbit.com Email: pmccain*quantumbit.com

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