Diversified Mortgage Workout Corporation Announces Current Capitalization and Restructuring

WHITE PLAINS, N.Y., Aug. 14  /PRNewswire-FirstCall/ -- Diversified Mortgage Workout Corporation (Pink Sheets: DMWK) today announced the company's restructuring of its common shares, the current capitalization is as follows:

  Total Authorized Shares:       5,000,000,000

  Total Outstanding Shares:        594,480,602

  Total Restricted Shares for
   Two Years:                      550,962,102 (In Management's Control)

  Total Held In the Company
   Treasury:                        41,409,545

  Total Public Float:                2,108,955




The company's management will immediately return all 550,962,102 restricted common shares to its Transfer Agent and also file immediately with the Delaware Secretary of State via Corporate Resolution a reduction of the Company's Authorized Common Shares to 50,000,000.

The Company will also supply pinksheets.com with all up to date corporate information including the new share structure immediately and expects the information to be updated within the next 24 to 48 hours.

Also you can visit the company's website at: http://www.dmwkcorp.com/ .

"These harsh and necessary measures are being taken immediately to enhance the value of the company's equities and strengthen shareholder value, the company within the next few days will also be outlining many new corporate actions along with some major announcements regarding certain distressed loan portfolio acquisition's," said Ms. Victoria Forlenza, President.

About Diversified Mortgage Workout Corporation:

The company engages in the acquisition of distressed sub-prime mortgage portfolios and individual troubled homeowner's mortgages. The company has a current outstanding public float of 1.2 million common shares.

This press release contains certain forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. 

DATASOURCE: Diversified Mortgage Workout Corporation



CONTACT:  Investor Relations,  1-888-770-7472,





Web Site:  http://www.dmwkcorp.com/ 

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