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link: http://money.iwon.com/jsp/nw/nwdt_ge.jsp?news_id=cmt-009b0072&feed=cmt&date=20070109

PrimeHoldings.Com Completes Due Diligence

Tuesday January 9, 10:48 AM EST

SALT LAKE CITY, Jan 09, 2007 (BUSINESS WIRE) -- PrimeHoldings.Com, Inc. (Pink Sheets:PMGJ), a diversified holding company with early mover initiatives in the oil and gas, telecommunications and other strategic industries, today announced it has completed its due diligence subsequent to the previously executed letter of intent and has confirmed that the representations made by the company are accurate, truthful and complete. Prime will acquire a significant equity position in Shoot the Hoop, Inc., a sports venue entertainment corporation, www.shootthehoop.com. The acquisition is expected to be finalized within the next week.

"Shoot the Hoop, Inc. has no significant debts or liabilities," stated Thomas Aliprandi, CEO of PrimeHoldings.Com. "This acquisition will provide us with a strong entry into the national sports venue marketplace with an already proven and successful business model," continued Aliprandi.



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


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