RushNet Increases Authorized Shares, Will Pledge Securities

  
    
  
  
    
      RushNet, Inc. (RSHN) 
      has increased its authorized shares this week by 6 Billion in order to 
      complete its purchase of Garden Beverage as well as the upcoming joint 
      venture investment in Amicalola Water Co. Both will require a 
      substantial pledge of RushNet, Inc. securities as part of the company’s 
      participation. The additional authorized shares encompass a large amount 
      of restricted shares to be held in escrow, pending the completion of 
      both investments.
    
    
      Robert Corr, President of RushNet, stated: “Unfortunately, 
      the weak share price has left us no alternative but to increase our 
      total authorized shares to 12 Billion. It had been our expectation that 
      the share price would have been higher at this point and thereby kept 
      the approaching share issuance to a smaller amount. But due to the 
      Agreement we have in place with Garden, and our proposed investment 
      agreement upcoming in Amicalola, we were forced to issue substantially 
      more shares than planned to maintain the dollar equivalence of the 
      pledged securities.”
    
    
      Robert Corr went on further to state: “While 
      it may appear out of line to some, this increase in authorized shares is 
      vital for us to implement our strategic development plan. The additional 
      bottling capacity, and an optimum water source for e-water® 
      at Amicalola, as well as strengthening our Midwest regional distribution 
      impact through Garden, will foster long term growth and value to both 
      the company and its investors.”
    
    
      Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 
      and 1995 for all public news releases. Statements, which are not 
      historical facts, are forward-looking statements. The company, through 
      its management, makes forward-looking public statements concerning its 
      expected future operations, performance and other developments. Such 
      forward-looking statements are necessarily estimates reflecting the 
      company's best judgment based upon current information and involve a 
      number of risks and uncertainties, and there can be no assurance that 
      other factors will not affect the accuracy of such forward-looking 
      statements. It is impossible to identify all such factors. Factors which 
      could cause actual results to differ materially from those estimated by 
      the company include, but are not limited to, government regulation; 
      managing and maintaining growth; the effect of adverse publicity; 
      litigation; competition; and other factors which may be identified from 
      time to time in the company's public announcements.