Exhibit 10
SURREY, INC.
PRESS RELEASE
FOR IMMEDIATE RELEASE
SURREY ANNOUNCES DELISTING FROM THE NASDAQ SMALLCAP MARKET
OCTOBER 20, 2000 --LEANDER, TX--Surrey, Inc. (Nasdaq SmallCap Market - SOAP)
announced that it has been notified by The Nasdaq Stock Market that it is not in
compliance with Nasdaq's requirements for continued listing with respect to its
per share closing price. As a result, the Company's common stock is being
delisted from trading on The Nasdaq SmallCap Market, effective at the start of
trading on October 20, 2000.
The Company's common stock will continue to be traded on the OTC Bulletin Board
under the symbol SOAP.
John van der Hagen, Chief Executive Officer of the Company, commented, "The
Company investigated several alternatives which might have raised the per share
trading price at this time, including a reverse split or a buy back of stock by
the Company. We are entering into our busiest time of year when all Company cash
is required to be put into inventory. We feel that the best way to help
shareholders at this time is to continue to work towards building our sales and
company profit. An action which would have involved a substantial outlay of cash
by the Company at this time was not in the best interests of our shareholders.
Also, a reverse split would have severely reduced the potential trading volume
in our stock, which we also did not feel was in the best interests of our
shareholders. After reviewing the options available to the Company, we did not
feel that they presented an acceptable tradeoff for shareholders simply to
remain listed on The Nasdaq SmallCap Market at this time."
Mr. van der Hagen further stated, "With the volatility of the NASDAQ market, on
the downside generally, over the past few months, keeping a steady stock price
has been difficult for many companies, as well as us, even though our sales and
reorders of company products have been on a continuous upturn."
Surrey's executive offices are located at 13110 Trails End Road, Leander, Texas
For Further Information Contact
Mark van der Hagen John McNamara
Surrey, Inc. or John McNamara Advertising, Inc.
(512) 267-7172 (212) 509-7779
