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22 July – LAWFUEL – The Law News Network – The Securities and Exchange…

22 July – LAWFUEL – The Law News Network – The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading of the securities of Host America Corporation (“Host America”), based in Hamden, Connecticut, at 9:30 a.m. EDT on July 22, 2005 and terminating at 11:59 p.m. EDT on August 4, 2005.

The Commission temporarily suspended trading in the securities of Host America because of concerns that information publicly disseminated by Host America, in its press release of July 12, 2005, concerning its dealings with Wal-Mart Stores, Inc., may have been misleading. Host America incorporated the press release as an exhibit to a Form 8-K filing with the Commission on July 12.

The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information, and any information subsequently issued by the company.

Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to Host America’s securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.

British MP George Galloway and his opponent the Daily Telegraph will leave no stone unturned to sort out what could be a spectacular libel case.