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SHENZHEN, China, Nov 06, 2008 /Xinhua-PRNewswire-FirstCall via COMTEX News Network/ -- OmniaLuo, Inc. ( http://ir.omnialuo.com/ ) ("OmniaLuo" or the "Company") (OTC Bulletin Board: OLOU), a China-based company engaged in the business of designing, developing, marketing and distributing fine women's apparel under the brand name OMNIALUO, today announced that its Board of Directors approved a share repurchase program to acquire up to one million shares of the Company's common stock over the next twelve months.
"We believe that our stock is significantly undervalued as a result of the recent instability in the credit and capital markets," stated Ms. Zheng Luo, Chairwoman and CEO. "The repurchase of our Company's shares will illustrate to the investment community our confidence in the long-term growth of the Company and our commitment to returning capital to our shareholders," added Ms. Luo.
To be added to the OmniaLuo, Inc. investor email list, please email pamela.solly@cirrusfc.com with OLOU in the subject line.
About OmniaLuo, Inc.
OmniaLuo, Inc. (http://ir.omnialuo.com/ ), based in China's fashion capital of Shenzhen, is in the business of designing, developing, marketing and distributing fine women's apparel under the brand name OMNIALUO. OMNIALUO's apparel embodies elegance, femininity and sophistication for China's rapidly growing class of urban and affluent female professionals. With its rapid and strategic expansion plan, OMNIALUO plans to increase its retail presence to more than 250 retail stores and distributor relationships by year end 2008. Under the leadership of Zheng Luo, the Company's founder and award winning chief designer, OMNIALUO is positioned to become the Chinese brand equivalent of Ralph Lauren, Vera Wang and Anna Sui.
OmniaLuo Investor Resources
Women's Wear Daily Article: http://tinyurl.com/3s5kev
Fact Sheet: http://tinyurl.com/48ndz3
Presentation: http://tinyurl.com/46xyo2
Video: http://ir.omnialuo.com/video/omnialuo.cfm
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Factors that may affect these forward-looking statements include, among others, our dependency on our chief executive officer, principal stockholder and chief designer, our sensitivity to economic conditions and consumer spending in China, competition in our industry, our ability to effectively manage our growth, our ability to raise capital in the future, changes in China's economic or political situation, and other factors set forth in our Annual Report on Form 10-KSB filed with the United States Securities and Exchange Commission or otherwise set forth from time to time in our other public filings. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date of this news release.
For more information, please contact:
Cirrus Financial Communications, LLC
Pamela Solly
Phone: +1-877-880-OLOU (6568)
Email: Pamela.Solly@cirrusfc.com
SOURCE OmniaLuo, Inc.
http://ir.omnialuo.com
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