HERE 'TIS~!
Company Press Release
DCGR International Holdings, Inc. Receives Two Million Dollars ($2,000,000) for Its Art Collection
BOCA RATON, Fla.--(BUSINESS WIRE)--March 29, 1999--DCGR International Holdings, Inc. (OTC BB:DCGR - news) a business development Company, announced that it has completed its contract for the sale of its art collection with First International Bank of Grenada.
A triple ''A'' rated bank (by International Deposit Indemnity Corporation).
A CD valued at $2,000,000 was received on Friday March 27, 1999. The CD is to be paid in 35 equal payments equal to 1.5% of the apprised value of the artwork, plus additional payments of $500,000 on each yearly anniversary date with a final balloon payment of the remaining funds.
Mr. Platten, President and CEO of DCGR stated, ''with the sale of the art work, we will have conclude all of the major goals of our business plan for 1998. With the additional cash flow, we will be able to take a giant step in the development of our Internet division, Personal Tutor Learning Systems.'' Mr. Platten went on to add, ''The funds will also help us to become a fully reporting company by the end of June 1999.''
Safe Harbor Act Notice: This release may contained forward-looking statements that involve risks and uncertainties, including, without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third-party suppliers, and other risks detailed from time to time in the company's federal filings, manual report, offering memorandum, or prospectus. Specifications are subject to change without notice.
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