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Russell Industries 1 for 1,000 Reverse Split

^{Published on 2010-10-06 08:21:10 - Market Wire}
 

HOUSTON--([ BUSINESS WIRE ])--Russell Industries, Inc. (Pink Sheets: RIND), announces that its Board of Directors has approved a 1 for 1,000 reverse stock split for its common stock only. The board and management having a majority voting block felt that taking this action at this time is in the companya™s best interest. The effective date is open of business October 7, 2010. Fractional Shares will be rounded up and shares are payable upon surrender of old certificates to the Companya™s Transfer Agent, Pacific Stock Transfer, Company. The new symbol on this date will be RINDD. Please note the aDa will be removed 20 after business days and will revert back to RIND.

About Russell Industries

Russell Industries is a developing alternative and renewable energy company. The Company is the majority owner of 63 unpatented Uranium mining claims in San Juan County in Southern Utah. The Company is also pursuing development of a commercial scale algae production facility through its wholly owned subsidiary, Algae Farm, LLC. The Companya™s website is [ www.russind.com ], the contents of which are not incorporated by reference herein.

Safe Harbor

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company and all affiliated parties do not assume any duty to publicly update or revise the material contained herein.