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To: jeff c. who wrote (9250)	4/29/1999 10:37:00 AM
From: Tomstocks	Read Replies (1) \| Respond to of 13776

News Just Out! (PCBM) Pinnacle Business Management,Inc. Retains Franchising Veteran; Work Underway to Consolidate 6,000Independent Operators April 29, 1999 10:11 AM CLEARWATER, Fla.--(BUSINESS WIRE)--April 29, 1999--Pinnacle Business Management, Inc. PCBM announced Thursday that they have retained the services of John Gorman, a world-renowned franchising professional. Among his credits are co-founding the Jack-In-The-Box chain and serving as Chief Operating Officer of Taco Bell, Inc. Pinnacle Business Management, Inc. intends to consolidate a fragmented industry with over 6,000 independent companies into a cohesive, self-contained consumer cash resource. Pinnacle Licensing Systems, Inc. will be run as a wholly owned subsidiary of Pinnacle Business Management, Inc. Its purpose is to consolidate the consumer finance industry using the Pinnacle name the same way that Century 21 did with independent Real Estate Brokers. Using a combination of company-owned locations as well as franchised and licensed locations, Pinnacle plans to expand internationally. "John Gorman brings to the Pinnacle Business Management mix an excellent source of technical and strategic franchising knowledge and experience. Just as important, he brings an element of maturity and elder statesmanship that will set the tone for the swift and controlled growth of this important division. Through his guidance, we will avoid many of the pitfalls encountered by franchise startups. We will also have access to his vast personal network of industry expertise and contacts in operations, development, sales and control," said Bruce Hall, President of PCBM. Because of varying state laws concerning Pinnacle's industry and service offerings, the initial approach to expanding operations will be to establish a central, company-owned location for administration and training in each state. From there, franchises, licensees and acquisitions offering the right mix of services to the consumer finance public will be established. Initial plans for 1999 are to install central locations in Illinois, North Carolina, California, Alabama, Georgia, and additional locations in Pinnacle's home state of Florida. Pinnacle Business Management is in the business of lending money on motor vehicle titles (Title Loans) and advancing small loans until payday, as well as cashing checks for the consumer public. Through the use of branded Pinnacle Cash Cards, and recently acquired E-Commerce and electronic funds tracking and transfer technology, Pinnacle will give new opportunities to those consumers who have been shut out of the economic and E-Commerce mainstream for various reasons. For additional details on these and other PCBM activities, refer to the Press Releases at pcbm.com. PCBM will become a reporting company by Second Quarter 1999, nine months before SEC deadlines take effect. PCBM intends to qualify for a NASDAQ Small Cap listing by the end of 1999. Growth plans will continue to be financed through public and private sources. Additional information is available through the company's web site or by calling the contact below. Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings. Contact: Peter Reinholt - Pinnacle Business Management, Inc. Business Development Department - Phone: 727/669-7781 Address: 2963 Gulf to Bay Blvd., Suite 265 - Clearwater Florida 33759 Key Words: banking finance E-Commerce franchise consumer cash