MINDEN, Nev., April 11, 2003 (PRIMEZONE) -- Kingdom Ventures, Inc. (OTCBB:KDMV), a rapidly growing church development company, announced today that Alpha Analytics, an independent research firm, has initiated coverage on Kingdom Ventures. Alpha Analytics issued Kingdom Ventures' stock its highest rating, "Attractive" / "Buy", giving it $5.13 and $9.15 price targets for 2003 and 2004, respectively. The company's stock is currently trading at $0.43.
Kingdom Ventures has made significant progress in the past few weeks. The company has acquired one of the leading Christian Internet portals with over 250,000 unique visitors per month. Kingdom has announced its intentions to become the leading church development company in the U.S. The company has formed a strategic alliance with Christian Speakers & Artists, giving its clients access to such Christian fundraisers as Oliver North and Barbara Bush. It has also teamed up with Christian Times, the largest independent regional Christian newspaper in the country, providing tremendous cross-marketing opportunities. Kingdom Ventures has created a partnership with a NASD-registered broker/dealer that has already raised almost a $1 billion for its church customers, giving Kingdom clients access to the same capabilities. The company has also announced that its revenues increased by 180% in 2002.
"This is the progress we have made in less than four weeks. We don't feel our stock price necessarily reflects our recent developments. But, Alpha Analytics' $5.13 target price for our common stock suggests that the investment community is slowly starting to pay attention to our developments," says Gene Jackson, President and Chief Executive Officer of Kingdom Ventures, Inc.
Kingdom Ventures' goal is to become the driving force behind the growth of churches and other faith-based organizations. As a church development company, Kingdom first identifies the key challenges its client churches face, and then provides solutions for each one of them. Instead of performing all services in-house, the company's business model is based on forming strategic alliances with the leading companies in various industries.
Kingdom Ventures helps faith-based organizations streamline their operations, raise additional money through various fund-raising activities or simply provide technological solutions that transform small and medium-sized churches into state-of-the-art presentation centers. The company helps churches focus on their core mission -- reaching people for God -- by focusing on its core business: helping churches and their people to grow.
There are approximately 400,000 Protestant churches in the U.S. alone. 94% of them have fewer than 1,000 active members, and therefore limited financial resources to effectively manage the business side of their operations. Christian organizations' total budgets are measured in billions of dollars. 89% of American households give to charities an average of $1,600+ a year, and religious organizations receive 60% of it. In addition, religious and inspirational products are selling at a pace of $5.6 billion annually (source: Christian Retailing Magazine).
Within less than three years, Kingdom Ventures has built a distribution network for Christian products, consisting of over 2,100 retail stores; 1,200 Christian bookstores and 900 gift stores. It has also established strong business relationships with hundreds of Christian organizations and performed over 750 fundraising events -- helping churches and other Christian organizations grow.
For more information, visit www.kdmvcorp.com. To sign up for shareholder alerts, visit http://www.kdmvcorp.com/ir_shareholderalerts.htm.
All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated.