SkyMark Holdings Announces Sales Update for Its Upper East Crescent Project

Market Wire, June, 2008

SkyMark Holdings, Inc. (PINKSHEETS: SYHI) today released an update on their 638 East Crescent town home project. This previously announced project is a 35 unit upscale town home community located in Upper Saddle River New Jersey. The units are priced in the mid $600,000 to $700,000 range and, to date, 10 of the units have been sold.

Robert L'Abbate commented, "Although there has been a general downturn in the housing market over the past 18 months we have a project located in a good area of the country with a very desirable school system and plan to continue marketing the buildings."

More information on this project, and select proposed projects can be found on the Company's web site: www.skymarkholdings.com .

SkyMark Holdings, Inc. is a real estate owner, developer and builder headquartered in Hackensack, New Jersey with a focus on the development of residential real estate in the Northern New Jersey and New Jersey/New York metropolitan area. The Company also produces and rents a limited amount of commercial property as an adjunct to its residential property focus.

"Safe-Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

Contact: Robert L'Abbate President & CEO SkyMark Holdings, Inc. 201-678-1000 ext. 301