Peacock Financial Corp. Aligns Itself With Capital Asset Management to Maximize Growth; New Director Named

Business Wire, Jan 11, 1999

SAN JACINTO, Calif.--(BUSINESS WIRE)--Jan. 11, 1999--Peacock Financial Corp. (OTC BB:PFCK) today announced that a deal has been struck with Temecula, Calif.-based Capital Asset Management, LLC to join with Peacock in an aggressive acquisition and subsequent spin-off program using the public vehicle of Peacock Financial Corp.

Capital Asset Management, LLC is an established international investment banking and offshore asset protection firm. Michael N. Brette, JD, the firm's chairman, has extensive experience in mutual fund operations, trust administration, and project-specific capital formation. He has written a weekly column in the Riverside Business Journal, authored two books dealing with corporate finance, and hosts a nationally syndicated radio talk show.

In a related announcement, Michael N. Brette has been named a director on the Peacock Financial board. Steven R. Peacock, president of Peacock Financial Corp., stated, "The addition of Mr. Brette to our board is extremely significant as we move forward. He adds extensive professional experience in the international banking and finance arena, which will serve to bolster our ability to expand Peacock's structure as a BDC (Business Development Company)."

Peacock indicated that the first such acquisition, using Capital Asset Management's newly established affiliation, will be announced later this week and will be "Internet-related." No further details were available.

Peacock Financial Corp. is a fully reporting investment holding company registered with the S.E.C. as a Business Development Company under the Investment Act of 1940. Peacock possesses 22 years of real estate development experience in land assembly and planning, infrastructure design, construction, and inner city redevelopment projects. Recent new holdings include investments in downtown San Jacinto's historic business district, investment banking, day trading, and an ownership position in a professional soccer franchise.