CLST Holdings, Inc. Announces Arbitration Award in Mexico Arbitration Proceeding

DALLAS, July 29 /PRNewswire-FirstCall/ -- CLST Holdings, Inc. (Pink Sheets: CLHI) announced today that on July 23, 2010 it received an Arbitration Award dated July 15, 2010 in its arbitration proceeding against Soluciones Inalambricas, S.A. de C.V. ("Wireless Solutions") and Prestadora de Servicios en Administracion y Recursos Humanos, S.A. de C.V. ("Prestadora") that was held in Mexico City in October of 2009.

Among other things, the Arbitration Award awarded the Company breach of contract damages of $394,230 and $102,457 relating to the Company's claim for unpaid management fees.  The arbitration panel also awarded the Company interest on those two damage amounts at the rate of 6%.  Interest began accruing on September 12, 2007 and will continue to accrue until the date the amounts are paid in full.   The Arbitration Award also provided that each side must bear its own attorneys' fees and experts' fees and that arbitration expenses be divided between the parties.  

In addition, the arbitration panel concluded that certain of the Company's claims could not be determined in the arbitration.  However, the arbitration panel specifically noted in the Arbitration Award that its finding was "without prejudice to (the Company's) right, or nonexistence of such right, to bring such claims in a new arbitration."  The Company is giving consideration to asserting these claims against Wireless Solutions and Prestadora.  

We will not dissolve Audiomex Export Corp., National Auto Center, Inc. and CLST-NAC, Ltd., which are direct parties to, and NAC Holdings, Inc., which is an indirect party to, the arbitration proceeding, until payment is received in accordance with the Arbitration Award.

Forward-Looking Statements

Certain information included herein may constitute "forward-looking" statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from future results, performance, litigation results or achievements expressed or implied by such forward-looking statements. When used in this report, the words "anticipates," "estimates," "believes," "continues," "expects," "intends," "may," "might," "could," "should," "likely," "plan," and similar expressions are intended to be among the statements that identify forward-looking statements. Statements of various factors that could cause the actual results, performance or achievements of the Company or future events relating to the Company to differ materially from the Company's expectations ("Cautionary Statements") are disclosed, including, without limitation, those discussed in the "Risk Factors" section in Part I, Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended November 30, 2009, those statements made in conjunction with the forward-looking statements and otherwise herein. All forward-looking statements attributable to the Company are expressly qualified in their entirety by the Cautionary Statements. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

SOURCE CLST Holdings, Inc.

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