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Happy Valley
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Pink Sheets to Begin Rollout of Disclosure Categorization Starting May 2007


New York, NY - April 24, 2007 - Pink Sheets, LLC announced today that in May 2007 it will begin the process of categorizing issuers quoted on Pink Sheets based on a company's willingness to provide adequate public disclosure to the marketplace. Initially, each company will be assigned a proposed category, which will be indicated on their Company Info page in the Quotes & News section of www.pinksheets.com. Beginning August 1, 2007, all companies will be assigned a final category and a corresponding icon which will be displayed next to the company's symbol everywhere it appears on pinksheets.com.

All Pink Sheets companies will be placed in either the OTCQX premium tiers (companies must apply to be included) or will be assigned a disclosure category by Pink Sheets, as follows:

OTCQX Premium tiers
PremierQX - The highest tier for U.S. companies. Must meet the continuing financial requirements of Nasdaq Capital Market, provide credible disclosure to the marketplace, and nominate a Designated Advisor for Disclosure (DAD).
PrimeQX - Must have ongoing business operations, a $.25 (cents) initial bid price, provide credible disclosure to the marketplace, and nominate a DAD.

International OTCQX Premium Tiers
International PremierQX - The highest tier for international companies. Must meet the financial requirements of the NYSE's Worldwide Listing standards, be listed on a qualified international stock exchange, provide home country disclosure to U.S. investors in English, and nominate a Principle American Liaison (PAL).
International PrimeQX - Must be listed on a qualified international stock exchange, provide home country disclosure to U.S. investors in English, and nominate a PAL.

Disclosure Categories
Current Information (icon: Pink Checkmark) - Must either be registered with the SEC pursuant to 12(g) of the Securities Act and current in all electronic filings posted on the SEC's EDGAR system, OR if not registered with the SEC, must meet Pink Sheets Guidelines for Providing Adequate Current Information, confirmed by a quarterly letter from an attorney, all of which must be posted on the Pink Sheets News Service and displayed on pinksheets.com (*- exceptions below). Disclosure is deemed to be current if it is posted within 120 days of the fiscal year ended (annual reports) and within 60 days of the quarter ended (quarterly reports) and interim material events should be disclosed on a timely basis.

*Banks and Financial Institutions - Companies that report to federal or state banking regulators or to insurance commissions will be placed in the Current Information category if they post onto Pink Sheets News Service the same information they supply to their regulator (for example, to the FDIC), in a timely manner. An attorney letter is not required.
*Foreign Private Issuers - Non-U.S. companies that do not furnish electronic reports on the SEC's EDGAR system that are listed on a qualified international stock exchange will be placed in the Current Information category if they post onto Pink Sheets News Service the same disclosure they supply to their home country exchange and to their shareholders, in a timely manner. The disclosure must be in English. No attorney letter is required.
Limited Information (icon: Yield Sign) - SEC registered companies must have posted some disclosure on the SEC's Edgar system within the last six months. Non-SEC reporting companies must have, at a minimum, quarterly financial reports prepared in accordance with GAAP, including financial notes, and certifications by the CEO and CFO and not less than six months old, posted either on Pink Sheets News Service.

No Information (icon: Stop Sign) - The company does not make disclosure publicly available, or its available disclosure is older than six months.

Caveat Emptor/Buyer Beware (icon: Skull & Crossbones) - There is a public interest concern associated with this company, which may include a stock spam campaign or other questions concerning the security or issuer. During a spam campaign, companies that have not, at a minimum, qualified for the Current Information category will also have their company's quotes blocked on pinksheets.com.

More information on the category rollout, including Pink Sheets Guidelines for Providing Adequate Current Information and Attorney Letter Guidelines verifying Current Information, is available on http://www.pinksheets.com/otcguide/categories.jsp.

About Pink Sheets, LLC
Pink Sheets, LLC is the leading provider of services, software and financial information for the over-the-counter (OTC) securities markets. Its electronic quotation, trading and disclosure services enhance the efficiency of OTC trading, provide better executions for OTC investors and improve the capital formation process for OTC issuers. For more information, visit the Pink Sheets website at www.pinksheets.com.

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