June 8, 2001 — SALT LAKE CITY — Daw Technologies, Inc. recenlty approved a four-to-one reverse stock split by a vote of 97.5 percent in favor and 2.1 percent against.

At the board meeting following the annual meeting of shareholders, the board unanimously approved a resolution to conduct a four-to-one reverse split of the company’s stock. The record date for the reverse stock split has not yet been set, but the company anticipates completing the reverse stock split within approximately thirty days.

According to officials, the purpose for the reverse stock split is to increase the per share price of the company’s common stock in order to allow the company’s stock to continue to be listed on the Nasdaq National Market.

“In April, the company received a written notice from the Nasdaq Staff indicating that the company’s common stock would be removed from trading on Nasdaq’s National Market because of its failure to maintain a minimum bid price of at least $1.00 per share. A four-to-one reverse stock split will increase the per share price of the company’s stock well above the $1.00 minimum Nasdaq standard, allowing us to not only regain compliance, but to demonstrate our ability to sustain compliance, with the Nasdaq continued listing requirements, ” said Michael Shea, president of Daw. “Our Nasdaq listing is of great importance to our future plans for growing the company, and we are committed to taking whatever actions we can to assure our continued listing.”

Shareholders also elected seven members to its board of directors at the shareholders meeting. Elected to the board were the following incumbent directors: Ronald W. Daw, Robert G. Chamberlain, James S. Jardine, Robert J. Frankenberg, Virginia G. Giovale and Robert G. Teresi. Also elected to the board for the first time was Shea.