Dickie Walker Marine Announces Intent to Acquire Chinese Stationary and Office Products Manufacturer

OCEANSIDE, Calif., Feb. 15 /PRNewswire-FirstCall/ -- Dickie Walker Marine, Inc. (OTC: DWMA) (BULLETIN BOARD: DWMA) announced today that it has signed a non binding letter of intent to acquire 100% of the stock in China Stationary and Office Supply, Inc. ("CSOS"), a Delaware corporation that owns 90% of the stock of Ningbo Binbin Stationery Co., Ltd. ("Binbin"), a corporation organized under the laws of the People's Republic of China. Binbin manufactures and markets office supplies including stationary, hole punchers, staplers, pens and pencils, rubber stamps, felt markers, and numerous other items which are sold through a worldwide network of distributors. Closing of the transaction is contingent upon the successful negotiation and execution of a definitive share exchange agreement and other customary closing conditions. If the transaction closes, the pre-closing Dickie Walker Marine stockholders will own approximately 7.8% of the post-closing company and CSOS shareholders will own approximately 92.2% of the post-closing company.

Mr. Chenghui Wei, CEO and Chairman of Binbin stated "We are very pleased to have the opportunity to become a publicly traded company in the United States through this reverse merger transaction with Dickie Walker Marine. We feel it gives our company an excellent opportunity to grow organically and through acquisitions of other office products companies that will compliment our business model. Binbin is one of the larger and most respected manufacturers of stationary and office products in China with annual sales exceeding $40,000,000. Forbes Magazine of China has named Binbin to its list of the 'Top 100 Growth Potential Companies in China' for the past two years in a row."

Gerald W. Montiel, Chairman and Chief Executive Officer of Dickie Walker stated, "We have looked at numerous opportunities to potentially increase shareholder value, and we feel the acquisition of CSOS offers an excellent opportunity. Binbin and its management are highly regarded in the Chinese market."

Montiel continued, "In preparation for a potential reverse merger we have sold Dickie Walker's remaining inventory and equipment, closed our concept store in La Jolla and exited the apparel business. We sold much of the remaining inventory to Sportif, a Nevada apparel and catalog company that has featured numerous Dickie Walker products in its WATERFRONTS mail order catalog and website for the past two years. "

American Union Securities, a full service investment-banking firm headquartered in New York, has been retained by Binbin to advise the company on this transaction and to assist management with the execution of its business plan over the next twelve months. American Union Securities Chief Executive Officer, John Leo stated that he anticipates that the merger with CSOS will be completed in the next 60 days.

Forward-Looking Statements

This release contains statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Dickie Walker's or its respective management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future. These statements are based on current estimates and projections about the company's business, which are derived in part on assumptions of management, and are not guarantees of future performance, as such performance is difficult to predict. It is important to note that actual results could differ materially from those in any such forward-looking statements. Readers of this release are also referred to Dickie Walker's previous public filings, available at http://www.sec.gov/ or upon request from Dickie Walker. Dickie Walker does not intend to update any of these forward-looking statements after the date of this release.

First Call Analyst: FCMN Contact: todds@dickiewalker.com