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PrimeHoldings.Com Completes Acquisition

Wednesday January 24, 11:06 AM EST

SALT LAKE CITY, Jan 24, 2007 (BUSINESS WIRE) -- PrimeHoldings.Com, Inc. (Pink Sheets:PMGJ), a diversified holding company with early mover initiatives in the oil and gas and telecommunications and other strategic industries, today announced it has completed the acquisition of Shoot the Hoop, Inc., a sports entertainment corporation, www.shootthehoop.com, subsequent to the previously completed due diligence process. The terms of the acquisition remain undisclosed.

"This acquisition will provide us with a strong entry into the national sports venue marketplace," stated Thomas Aliprandi, CEO of PrimeHoldings.Com. During the due diligence process, we were delighted to be so well received by the multiple venue operators and associations," Aliprandi continued.

More information about PrimeHoldings.Com can be found at http://www.stockinformationsystems.com/c/PMGJ/index.html.

"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.

SOURCE: PrimeHoldings.Com, Inc.

CONTACT: PrimeHoldings.Com, Inc.

Thomas Aliprandi, 801-755-6859

Copyright Business Wire 2007