The City Hoops Youth Basketball Program Rings The NASDAQ Stock Market Opening Bell as the Not-for-Profit Program Kicks Off AAU Basketball Season

The City Hoops 4th Annual Gala to Honor Michael Novogratz; NYC Knicks' Tyson Chandler to Deliver Keynote Address

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| Source: The City Hoops

NEW YORK, April 3, 2012 (GLOBE NEWSWIRE) -- This morning, the players and coaches of The City Hoops 15U basketball team were larger than life in New York City's Times Square when they were hosted by NASDAQ OMX to officially ring The NASDAQ Stock Market Opening Bell. The City Hoops is a 501 (C) (3) non-profit youth organization serving the youth in New York City that strives for excellence on and off the court. Based in SoHo, NY, The City promotes the development of young men in basketball, leadership, academics and sportsmanship so that they can reach their maximum potential today and become leaders in the world tomorrow.

"The NASDAQ Stock Market was delighted to welcome The City Hoops players and coaches," said David Wicks, Vice President of the NASDAQ OMX Group. "This program is contributing to the development of young student athletes who are poised for success in their sport, but more importantly, in their future careers."

This morning's ringing of The NASDAQ Stock Market Opening Bell launched The City Hoops Spring AAU basketball season, which will take the team to tournaments throughout the New York metropolitan area, Pennsylvania, Virginia, Milwaukee, Arkansas and Italy. In addition, the team will host its 4th Annual Spring Gala at The Crosby Street Hotel on April 12th in honor of Michael Novogratz, Principal and Director of Fortress, and featuring a keynote address from Tyson Chandler of the New York Knicks.

"We are proud of our players but even prouder of the men they are becoming," said Arjay Perovic, Executive Director and Head Coach, The City Hoops. "We work with them to emphasize team success over individual achievement, excellence in the classroom and the importance of acting with integrity – on and off the court."

For more information about The City Hoops or to purchase tickets to the Spring Gala, visit www.thecitybasketball.org

To view pictures and video of The City Hoops at the NASDAQ Stock Market Opening Bell, visit http://www.nasdaq.com/marketsite/marketsite-events-detail.aspx?fn=201204-open04022012.txt

About The City Hoops:

The City Hoops, a 501 (c) (3) non-profit organization serving the youth in New York, will visit the NASDAQ MarketSite in Times Square. The City Hoops is a basketball program that focuses on the development of New York's youth both on and off the court. 

The primary mission of The City is to promote the continued development of young players as it relates to basketball, leadership, sportsmanship and athletic competition. This goal is achieved through participation in tournaments throughout the country and competition at the highest level. We push each player to reach their maximum potential today, so they can be leaders in our world tomorrow. We build character in each player through hard work, perseverance and commitment. We strive to provide the best competitive basketball experience for athletes that want to pursue a college education.

The City Hoops logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12285

www.thecitybasketball.org