News

Link: http://money.iwon.com/jsp/nw/nwdt_ge.jsp?news_id=cmt-003b5755&feed=cmt&date=20070103

CORRECTING and REPLACING PrimeHoldings.Com Signs LOI to Acquire Equity Stake in

Shoot the Hoop

Wednesday January 3, 11:10 AM EST

SALT LAKE CITY, Jan 03, 2007 (BUSINESS WIRE) -- Reissuing release to change the ticker symbol for searching purposes.

The corrected release reads:

PRIMEHOLDINGS.COM SIGNS LOI TO ACQUIRE EQUITY STAKE IN SHOOT THE HOOP

Due Diligence to Commence Immediately

PrimeHoldings.Com, Inc. (PMGJ), a diversified holding company with early mover initiatives in the oil and gas, telecommunications and other strategic industries, today announced it has entered into a letter of intent to acquire a significant equity position in Shoot the Hoop, Inc., a sports venue entertainment corporation, www.shootthehoop.com. The contract is expected to be finalized within the next thirty days.

"With the pending capitalization opportunities we feel this potential acquisition provides a strong entry into the national sports venue marketplace," stated Thomas Aliprandi, CEO of PrimeHoldings.Com.

"Shoot the Hoop, Inc. is a leading provider of unique and proprietary (patent pending) revenue generating solutions for sport venues across the country and internationally for sports organizations at any level. Shoot the Hoop has also been used effectively as a fundraiser and promotional tool that actually increases other revenue sources such as vending, advertising and organizational promotions," Aliprandi added.

More information about PrimeHoldings.Com can be found at www.stockinformationsystems.com.

"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., Salt Lake City

Thomas Aliprandi, 801-755-6859

Copyright Business Wire 2007