Williams Industries' Board of Directors made the decision to move the company's stock to the OTC based on a number of factors, not the least of which was NASDAQ's decision to "bundle services" and significantly increase fees. Williams Industries' President Frank E. Williams, III observed, "It would be a disservice to our shareholders for the company to assume overhead expenses for services it doesn't use. We are simply too small and our business is too 'old economy based' to be forced to pay for a lot of high technology that the company doesn't use."

Mr. Williams also noted that in its March 10th earnings press release, the company reported that its board of directors, after reviewing the current and future costs of remaining a public corporation, approved appointment of a committee of independent directors to explore the possibility of taking the company private. Additional information will be forthcoming as appropriate.

For additional information, call the company's investor relation's office at (703) 335-7800.