BEVERLY HILLS, Calif., June 21, 2004 (PRIMEZONE) -- Victory Capital Holdings Corp. (OTCBB:VTYC) announced today that, with the recent successful launch of its Holy Ghost Internet Radio Campaign, the management of Victory Capital anticipates being cash flow positive by the end of July 2004. As the Company continues to receive customer sign-ups at http://www.unityvoice.com, the management has set a July, 2004 EBITDA goal of $74,750.00.
As previously announced, beginning the week of June 21, 2004, the Company will be initiating its second internet campaign directed at various Real Estate, Mortgage Banking, and Home Based Business professionals. The campaign will be delivered to 130,000 Insurance Agents, 170,000 Real Estate professionals and 200,000 Mortgage Brokers. The management of Victory believes that with this initiative it will meet and exceed its July 2004 EBIDTA goal of $74,750.00.
Victory Capital Holdings further announced today that Global Card, Inc., the Company's majority owned subsidiary, is in final negotiations to add an additional 40,000 retail load centers to its existing stored value platform. The Company's management anticipates having this agreement executed by the end of June 2004.
"We are excited to finalize this agreement for load centers," said TJ Culbertson, CEO of Global Card. "With the additional load centers, Global Card will be able to enroll new consumer segments to its customer base, particularly in the retail sector, that may not have had access to the Internet or electronic funds transfer services."
Harold Gregg, C.E.O. of Victory, stated, "The Company's strategy of developing various subsidiary companies is beginning to produce results. We anticipate significant further developments in the near future with each of Victory's subsidiaries."
About:
VICTORY CAPITAL HOLDINGS CORPORATION (VTYC) http://www.vtyc.com organized in Nevada, is a publicly traded company. The Company is designed to leverage the assets of existing, proven technology and to infuse those assets with marketing, management and financial support to become the recognized leader in its space.
About:
OnDemand Communications http://www.unityvoice.com UnityVoice is a service of On Demand Communications Corp., a leading provider of advanced Virtual Office communication and marketing solutions primarily to small/medium businesses across a wide spectrum of industries. The services range from advanced toll free number voice mail to highly sophisticated IVR systems that are "fully systems integrated" with our customers. This service offering includes 800 Voice Mail, Virtual Office, Unified Messaging, Web Enabled Virtual PBX and Integrated IVR.
About:
Global Card, Inc. http://www.globalcardinc.com A subsidiary of Victory Capital Holdings Corporation is a multifunctional stored value Visa(r) or Mastercard(r) card with the same features as a credit or debit card, combined with the convenience of prepaid long distance, prepaid Internet, prepaid wireless, and a loyalty points program -- all in one Global Card has positioned itself to be a leader in the stored value space.
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission.