Advantage Capital Development Corp. Files Definitive Form 14C Notification to Shareholders of Its Withdrawal of Election as a Business Development Company

Market Wire, May, 2006

Advantage Capital Development Corp. (OTC: AVCP) today announced that it has filed a definitive Form 14C notification to shareholders of its withdrawal of election as a business development company (BDC) following a resolution to inquiries on its preliminary filing with the Security Exchange Commission (SEC).

Previously, the Company received written consent in lieu of a meeting of stockholders from holders of 51.09 percent of the Company's issued and outstanding shares approving and authorizing the withdrawal of the Company's election to be treated as a business development company (BDC).

The Company is currently performing certain restructuring measures so that it will not be rendered an unregistered BDC once the Form N-54C is filed. Once the restructuring is complete, the Company will file Form N-54C notifying the SEC that the Company has decided to withdraw its election to be regulated as a BDC subject to sections 55 through 65 of the Investment Company Act of 1940.

"We want to expedite this process as quickly as possible," said Jeffrey Sternberg, President and CEO of Advantage Capital Development Corp. "Our Board of Directors feels that the election to withdraw as a BDC is in the best interest of our shareholders as we have been unable to overcome the obstacles to a Bulletin Board listing created by the former corporate entity. As soon as this process is complete, we will focus our energies on creating a strong future for Advantage Capital Development Corp. as an operating company."

About Advantage Capital Development Corp.

Advantage Capital has been functioning as a business development company, which operates specifically to meet the needs of small and emerging companies that need capital to grow. Business development companies, as defined under the Investment Act of 1940, are specifically designed to encourage the growth of small businesses. The rules provide certain financing advantages for companies that invest in small and emerging businesses.

Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

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