SAN JACINTO, CALIF.--(BUSINESS WIRE)--March 22, 1999--Peacock Financial
Corporation (OTC BB:PFCK - news) today announced that it has set the record date for a distribution of San Diego Soccer
Development Corp. shares that the Company owns.
The official date of record is set for close of business April 12th, 1999. For every 100 shares of Peacock Financial
Corporation (PFCK), shareholders will receive one share of San Diego Soccer Development Corp. This is the first
distribution
and dividend made by the Company since becoming a fully reporting Business Development Company under the Investment
Act of 1940. The Company intends to continue distributing shares to its shareholders as its investments mature and go public.
San Diego Soccer Development Corp. (SDSDC) owns the FLASH, a professional soccer team franchise. Based on an
investment banking agreement between the two firms, an SB1 filing will be made with the Securities & Exchange
Commission
within the next 60 days. Peacock Financial Corporation owns 800,000 shares of SDSDC, of which 300,000 shares are to be
distributed as a dividend to PFCK shareholders, 400,000 shares (earned as an investment banking fee) will be retained as a
long term investment, and the remaining 100,000 shares will be sold in the SB1 Offering as a selling shareholder. SDSDC will
apply to the NASD for listing its shares on the Small Cap NASDAQ market, however there is no assurance that the listing will
be granted.
Mr. Steven R. Peacock, president of Peacock Financial, stated, ''This action establishes the first distribution and dividend,
and
is an important milestone for the Company.'' It is anticipated that when the San Diego Soccer Development Corp.'s stock
begins trading, it will be valued at $5.00 per share.
Peacock Financial Corp. anticipates the second distribution of shares will be Temecula, CA-based Solutions Media Corp., a
company primarily involved in developing and marketing interactive interfaces for convergence technologies. Under a
three-tier
product model, Solutions Media will develop client product for the World Wide Web, for Digital Television, and for High
Definition Television (HDTV) using proprietary, high bandwidth convergence applications. Peacock Financial Corporation
owns 2,000,000 shares (20 percent) of Solutions Media, and, as with the San Diego Soccer Development Corporation
distribution, a portion of these shares will be distributed to Peacock Financial shareholders. Additional details, including a
date
of record, for this distribution will be announced at a later date this Spring.
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. |
