CLHI CLST Holdings Inc (PK)

York Asset Management Limited (�York�) confirmed today its support for management�s nominees for director at the upcoming meeting of shareholders scheduled for July�31, 2007. York, and funds managed or affiliated with it, own approximately 7% of the outstanding common shares of the Company. Nick Walker, managing director of York, stated the reasons for the York group�s support for management�s slate of directors: "On March 28, 2007 CLST's shareholders approved a plan of liquidation. The current management and board have made significant progress with the sale of CLST's assets and settlement of the SEC litigation, and have declared and paid a US$1.50 per share dividend. Furthermore, the current board has approved a reduction of the retainer and meeting fees paid to each director. In my opinion the objective of the board should now be to efficiently and cost effectively complete the wind-up of our company and pay out the remaining cash to the shareholders. In my conversations with current management and board members I am persuaded that they are committed to these goals. The dissident slate is proposed by Mr. Timothy Durham of Obsidian Enterprises. At this late stage in the wind-up of our company, I cannot understand what motivates Mr. Durham to want to control our company or why he is prepared to spend his and our money fighting a costly proxy battle. A review of Mr. Durham's professional and personal websites suggests that he is a frequent buyer, seller and creator of operating businesses (see the links below). Why would he spend his time winding down our company? Our company is essentially a cash shell. The majority of our shareholders want to see their cash returned to them. A new board could seek to scrap the plan of liquidation and enter a new business. This is not what I want to see happen. The York group intends to vote for the re-election of the current board of serious, experienced, long-serving professionals to allow them to complete the plan of liquidation." CLST shareholders are encouraged to review both management�s and the dissident group�s proxy solicitations before deciding how to vote their shares at the upcoming election of directors.