New World Coffee-Manhattan Bagel, Inc. (Nasdaq: NWCI) today announced that its Board of Directors has approved a 10-for-1 reverse split of the Company's outstanding Common Stock. This action, which is subject to shareholder approval, would reduce the outstanding Common and Common Stock issued under outstanding warrants and options to 1/10th of their present amount. A special shareholder meeting on the proposal is expected to be held next month.