SDSD news...
Monday March 20, 9:39 am Eastern Time
Company Press Release
San Diego Soccer Development Corp. Strengthens Financial Standing and Bolsters Management Team
Steven R. Peacock Elected Chairman
SAN DIEGO--(BUSINESS WIRE)--March 20, 2000--San Diego Soccer Development Corporation, (SDSDC)(OTCBB:SDSD - news) owner of the San Diego FLASH and Riverside County ELITE professional soccer franchises, today announced that it has received a working capital credit line financing of $500,000 from Peacock Financial Corporation (OTCBB:PFCK - news).
As a result of a board meeting last Friday, Steven R. Peacock was elected SDSDC's chairman, and James S. Upton was named Chief Financial Officer. Upton will concurrently hold the position of SDSDC CFO, as well as that of Executive Vice President of Peacock Financial Corporation. Upton brings more than 27 years experience in financial analysis, cost accounting and marketing skill to SDSDC.
SDSDC president, Yan Skwara, praised the decision by stating, ``This strategic re-positioning truly enhances the strong synergies between the two public companies. The board felt that it is clearly in the shareholders' best interests, and can only enhance the continuing growth and visibility of the company, by having Steve Peacock and Jim Upton involved in managing our company. We have had the support of Steve for two years and have a great amount of respect for his shared vision, of how to properly structure professional soccer in America.'
Peacock, president of Peacock Financial Corp., commented, ``We support the SDSDC business plan and will immediately begin to aid in the implementation of the long term strategic plan, creating a publicly traded soccer holding company with multiple franchises and ties to Europe.'
The San Diego Soccer Development Corporation (SDSDC) is a publicly traded San Diego-based company, which promotes and develops professional and youth soccer in the United States and abroad. SDSDC currently owns and operates two professional soccer franchises, San Diego FLASH and Riverside County ELITE. SDSDC is the only soccer development corporation that is publicly traded on the U.S. stock market. Peacock Financial Corp. owns two A-League soccer franchises, the Orange County Waves and the San Francisco Bay Seals.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. This release contains forward-looking statements that involve risks and uncertainties. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors.
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Contact:
CONTACTS: San Diego Soccer Development Corp.
Yan Skwara, 858/581-2120
or
Peacock Financial Corp.
Steve Peacock, 909/652-3885
or
Stock Enterprises
James Stock, 702/614-0003
or
National Financial Communications
Mario "Ike" Iacoviello, 800/878-9460
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