PALM BEACH GARDENS, Fla., Jan. 21, 2004 (PRIMEZONE) -- eCom eCom.com, Inc. (OTCBB:ECEC) and American Capital Holdings, Inc. issue this release for clarification on their previous announcement on January 14, 2004 regarding American Capital Holdings, Inc.'s acquisition of (ECEC) common stock in the open market to answer the overwhelming telephone calls received today.
Barney Richmond stated on January 14, 2004, "American Capital Holdings, Inc. has collectively acquired as of this date 1,562,000 shares of (ECEC) common stock in the open market in the past several weeks. It is our intent to continue buying shares in further support of our collective beliefs in pursuit of our common goals. If our position approaches the five percent rule, we will file a 13d with the SEC of our intent to acquire 5 percent or greater."
Barney Richmond reconfirms, "American Capital Holdings, Inc. is firmly committed to the undertakings announced this morning and in furthering our support on our previously announced position, we now hold 1,799,150 shares of common stock purchased in the open market. We are not sellers and it is our intention to continue to support our position by purchasing additional shares of (ECEC) to support the future business opportunities which we believe exist within eCom eCom, Inc. We will give notice via a press release of our 13d filing."
Barney Richmond further stated, "It is our fiduciary responsibility to inform the public of all of our intentions which would include the selling in the open market of the shares recently acquired, we have no intentions of selling and we would give ten (10) days notification to all shareholders prior to the occurrence of any type of selling transactions on our part. For those with further questions, please email investors@achinc.net and we will promptly reply to your request."
About: American Capital Holdings, Inc.
American Capital Holdings, Inc. is a Florida Corporation formed for the purpose of making majority capital acquisitions primarily in developed entities. The Company owns majority controlling interests in Cornerstone Energy Partners LP, 21st Century Exploration Corporation and Freedom 4 Wireless, Inc. ACH intends to invest primarily in energy exploration, technology, consumable goods, communication, manufacturing and governmental suppliers. The Company has developed a proprietary secured funding programs specifically designed for the exploration of oil and gas in the United States, Energy Tax Incentive Preferred Securities(tm) ("ETIPS the security"). The "ETIPS(tm)" securities are designed to pass through oil and gas well tax investment drilling credits and depletion tax allowances directly to the investors. Usually, the cost of the oil and gas well investment is written off over a three (3) year period. In addition to "ETIPS(tm)" ACH has developed Guaranteed Principal Insured Convertible Security(tm) "GPIC'S(tm)" as an investment grade product for Insurance Companies as well as the financial community allowing ACH the ability to make majority capital acquisition in those sectors stated above. "ETIPS(tm)" & "GPIC'S(tm)" are trademarked by American Capital Holdings and have process business patent applications pending.
For additional information contact
info@achinc.net or call media relations for ACH @ 1-866-823-5252
Website: www.achinc.net
Statements in this news release that are not descriptions of historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expect," "intends," "believes," "plans," "anticipates," "approximately," and "likely," also identify forward-looking statements. All forward-looking statements are based on current facts and analyses. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses, anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption of vital infrastructure, disruption of communications services marketplace, and due to natural disaster. All forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995.
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