ForeFront Holdings, Inc. announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934. ForeFront expects that the deregistration will be effective within 90 days. ForeFront is eligible to deregister its common stock because the common stock is held of record by less than 300 persons. As a result of this filing, ForeFront's obligation to file certain reports and forms with the SEC, including Forms 10-K, 10-Q and 8-K, was immediately suspended. Mr. Gozia stated that ForeFront's shares are expected to continue being quoted on the Pink Sheets. However, there is no assurance that any brokerage firm will continue to make a market in ForeFront's common stock after deregistration. Deregistration of ForeFront's common stock was approved at a meeting of the Company's Board of Directors after consultation with management and deliberation regarding the advantages and disadvantages of continuing SEC registration. In commenting on the decision to deregister, Mr. Gozia stated, "After carefully considering the advantages and disadvantages of continued registration, including the high financial costs associated with preparing and filing periodic reports and other filings with the SEC in comparison to ForeFront's size; the demands placed on management to comply with SEC reporting obligations, which detract from time available for overseeing the operation and growth of ForeFront; the limited public trading volume of ForeFront's common stock; and the concentrated nature of ForeFront's public float, over 80% of which is beneficially owned by one party, Stanford International Bank, Ltd., the Board of Directors of ForeFront believes that deregistering is in the best interest of increasing long term stockholder value. This action should result in accounting, legal and administrative expense reductions and allow ForeFront's management to focus its attention, efforts and resources on ForeFront's operations and revenue growth."

On May 20, 2008, Forefront Holdings, Inc. filed Articles of Amendment with the Florida Secretary of State to amend its Articles of Incorporation to (i) implement a one-for-five reverse stock split of the Company's common stock, par value $0.001, and (ii) decrease the aggregate number of shares of all classes of capital stock that the Company may issue from 525,000,000 to 105,000,000, consisting of 100,000,000 shares of Common Stock and 5,000,000 shares of preferred stock, par value $0.001 per share. The Amendment will become effective at 5:00 p.m., Miami time, on May 27, 2008. No fractional shares of Common Stock will be issued as a result of the Reverse Stock Split; all fractional shares which would otherwise be required to be issued as a result of the Reverse Stock Split will be rounded up to the nearest whole share.