PR

PrimeHoldings.com Announces Completion of Capital Raise
Wednesday October 5, 1:16 pm ET
Acquiring Identified NQB-Listed Company Next Step

SALT LAKE CITY--(BUSINESS WIRE)--Oct. 5, 2005--PrimeHoldings.com Inc. (OTC: PMHJ - News), a diversified holding company with early-mover initiatives in the telecommunications and proprietary restaurant and hospitality industries, and Target Communications, LLC, its joint venture partner, today announced that the capital necessary to acquire a publicly traded company, listed on the National Quotation Bureau, has been raised and placed in escrow. This acquisition, when completed, will provide Target Communications, LLC, the vehicle and opportunity to execute the next phase of its business plan. Current shareholders will receive a proportional equity stake in the new entity.

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"This scenario will better position Target Communications, LLC, to be properly funded to execute on its revenue goals while placing the PrimeHoldings' shareholders in a better position to recoup their share value," said Thomas Aliprandi, PrimeHoldings' CEO. "Our desire has long been to deliver to our shareholders a business with a solid revenue stream, and an orderly market for its securities, for the benefit of everyone involved," concluded Aliprandi.

For additional information about PrimeHoldings.com, go to www.stockinformationsystems.com and search for PMHJ.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
Contact:

PrimeHoldings.com Inc.
Tom Aliprandi, 801-755-6859
ir@primeholdings.com