SAN JACINTO, Calif.--(BUSINESS WIRE)--Jan. 19, 1999--Peacock Financial Corp. (OTC BB:PFCK) Tuesday announced that it
intends to spin off the San Diego Soccer Development Corp., owner of the San Diego "FLASH" professional soccer team, into its own fully
reporting public company within the next 60 to 90 days.
Steven R. Peacock, president of Peacock Financial, stated: "This decision is part of the original plan for Peacock's investment in San Diego
Soccer Development Corp., and the timing is now right to move forward with providing the FLASH with its own public vehicle.
"Our intention will be to distribute stock in this new public entity to our shareholders as a dividend, and we will continue to follow the
process with all future investments as an added benefit to Peacock shareholders."
Yan Skwara, president and CEO of San Diego Soccer Development, stated: "This is a major step for the FLASH and for soccer in the
United States. By becoming the first publicly traded soccer franchise, it will enable the company to raise significant capital as a publicly
traded company as well as expose the sport of soccer throughout the financial markets."
Peacock Financial is a fully reporting investment holding company registered with the Securities and Exchange Commission as a Business
Development Company under the Investment Act of 1940. Current holdings include investments in real estate, investment banking, day
trading, the Internet, lumber importation and professional sports.
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 SEC.
CONTACT: Peacock Financial Corp., San Jacinto
Steven Peacock, 909/487-8911
or
San Diego Soccer Development Corp., San Diego
Yan Skwara, 619/581-2120
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