Pinnacle Bancshares, Inc. to Voluntarily Delist Common Stock from American Stock Exchange

  
    
  
  
    
      Pinnacle Bancshares, Inc. (AMEX: PLE) announced today that it will 
      voluntarily withdraw its common stock from listing on the American Stock 
      Exchange (“AMEX”). 
      In approving this action, the Board of Directors considered several 
      factors, including the number of shareholders, the costs associated with 
      remaining as a listed company and the trading volume of the Company’s 
      shares.
    
    
      After withdrawal of its common stock from listing on the AMEX, the 
      Company currently expects that the shares will be quoted on the OTC 
      Bulletin Board.
    
    
      Pinnacle Bancshares, Inc. is a bank holding company headquartered in 
      Jasper, Alabama. Its wholly-owned subsidiary, Pinnacle Bank, has 
      approximately $240 million in assets and operates seven offices in 
      central and northwest Alabama.
    
    
      The Company wants to provide stockholders and investors with meaningful 
      and useful information. Therefore, this press release may contain 
      forward-looking information, including statements regarding the 
      anticipated trading of the Company’s shares on 
      the OTC Bulletin Board. These forward looking statements are subject to 
      risks and uncertainties which could cause actual events or performance 
      to differ materially from those expressed in these statements. Readers 
      are encouraged to read the Company’s Annual 
      Report on Form 10-KSB and its other reports filed with the SEC for a 
      more complete description of these factors. The Company assumes no 
      obligation to update the information contained in this press release.