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Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (3203)	10/2/2002 11:26:02 PM
From: russet	Read Replies (1) \| Respond to of 8273

Down to a good bunch of freebies in DMW now,...but am looking for some decent earnings to get more,... I know you have warned us off of the crappy exchanges in the U.S. before,..this NR suggests you know what you were talking about,...and suggests that those clearing houses that most exchanges and TSE companies use are party to the screw job!! Bluebook Announces Certificated Ownership Requirements LAKE FOREST, Calif., Oct. 2 /CNW/ -- The Bluebook International Holding Company (OTC Bulletin Board: BBIC) announced today that it plans to exit the Depositary Trust and Clearing Corporation (DTCC) and Canadian Depository for Securities Limited ("CDS") post-trading settlement and clearing systems. As a result, Bluebook's shareholders will have to hold shares in certificated form and all clearing and settlement of trades will be effected through the brokers and Bluebook's transfer agent by the delivery and issuance of physical certificates evidencing the shares. Bluebook is taking this action in response to an apparently concerted effort to take advantage of inflated trading volumes and unsettled cross trading in the market. As a result of trades that have not settled, Bluebook appears to have more shares in the DTCC and CDS systems than Bluebook actually has in the public float. Bluebook's management believes this appearance of increased trading activity may be due in part to naked short sales of Bluebook stock. In a traditional "covered" short sale, the seller borrows the shares from a broker (usually shares held in the name of a brokerage for one of its customers) and sells them with the understanding that they must later be bought back (hopefully at a lower price) and returned to the broker. SEC rules allow investors to sell short only on an uptick or a zero-plus tick, to prevent "pool operators" from driving down a stock price through heavy short-selling, then buying the shares for a large profit. In a "naked short," sellers may sell shares that they do not actually own, hoping to cover the sale (prior to clearing and settlement of the trade) with shares purchased in the open market at a lower price. As long as these purchases and sales are not cleared and settled, a company's stock price may be driven downward. This process may continue for an extended period as long as new, unsettled trades are made. Bluebook's management believes that its program of certificated ownership enhance the fairness and integrity of Bluebook's share trading system, protect shareholder value and reduce the potential for unfair and improper trading practices. Once the certificated ownership is enacted under the Certificated Custody Transfer System, the Company will require certification of ownership without the use of DTCC or CDS or their nominees. More specifically, no certificates shall be printed or entered into the Company's books via its transfer agent in the names of CEDE & CO., DTCC, CDS, or any other such type of depository for certificates. Bluebook will be asking Member Participants, NOT SHAREHOLDERS, who have not received delivery of their shares within the three-day clearing cycle demanded and guaranteed by the National Securities Clearing Corporation. Bluebook encourages its current shareholders to ask their brokers and/or the clearing firms to become registered shareholders by ordering their share certificates for delivery. As a registered shareholder of Bluebook, shareholders can help cause brokerages to demand delivery of shares purchased to prevent and ensure that naked shorting does not continue to dilute real company shareholdings and shareholder value. Shareholders are encouraged to contact their advisors if they have any questions regarding this procedure. The Bluebook is committed to their shareholders and will remain diligent in providing fair and accurate representation and value of their company to the investing public. SAFE HARBOR STATEMENT THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT INTERESTS, THE COMPANY'S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.