Target News

PrimeHoldings' Shareholders to Receive Equity;

Shareholders to Receive Projected $4.5M Stock Dividend in New Corporation

PrimeHoldings.com Inc. (Pink Sheets:PMHJ) (the company), formerly a diversified holding company with early-mover initiatives in the telecommunications, and proprietary restaurant and hospitality industries, today announced that the management of Target Communications is preparing for its initial quotation on the Pink Sheets. Concurrently, the new entity will begin the process to become fully reporting under the Securities Act of 1933. Current shareholders will receive a proportional equity stake in the new entity as a stock dividend.

"This new scenario will better position Target Communications, LLC to be properly funded to execute its next phase of its business plan while placing the PrimeHoldings' shareholders in a better position to recoup their share value," said Thomas Aliprandi, PrimeHoldings' CEO.

"The proper capitalization of Target Communications, LLC will allow PrimeHoldings to focus on our new objective, of securing additional assets, leases and opportunities in the Energy sector."

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.

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

Source: Business Wire (December 7, 2005 - 8:31 AM EST)

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