GC-Global Capital Corp.
TSX VENTURE : GDE.A

GC-Global Capital Corp.

October 17, 2007 09:41 ET

GC-Global Capital Announces the Successful Property Launch of the Thoms Estate in Asheville, North Carolina and Repayment of Bridge Loan

TORONTO, ONTARIO--(Marketwire - Oct. 17, 2007) - GC-Global Capital Corp. ("Global Capital") (TSX VENTURE:GDE.A) is pleased to announce the successful property launch of the Thoms Estate in Asheville, North Carolina. During the weekend of October 13th, the Thoms Estate launched the first phase of its residential community consisting of property and housing packages. This project, located three miles from downtown Asheville, is a conversion of a private estate dating from 1941 into an 83 acre community consisting of 130 full-ownership houses evoking the European traditions that have inspired Asheville's landmark architecture for over a century. Nearly half of the property will remain undeveloped in order to retain the distinctive heritage and history of the land. A total of US$40 million in gross sales occurred during the launch weekend. Global Capital had provided a $1.25 million secured bridge loan for the project back in April, 2007, and has now been repaid in full. Global Capital's total return, including interest and bonuses on the bridge loan, was $187,500, representing an annualized return of 30%.

"The success of the Thoms Estate launch displays the talents of the management team of the project and the opportunities that our relationship with our sister merchant bank, Global Development Resources, affords us in terms of deal flow" said Global Capital's C.E.O., Jason Ewart. He added, "We are aware of the weakness of America's housing market particularly in certain areas such as Florida, California and Nevada. For this reason, Global Capital has been highly selective with its lending services thereby focusing on areas where we have seen a combination of strong consumer demand, unique high quality properties and an influx of retiring baby boomers."

About The Thoms Estate in Asheville, North Carolina

Today, in cooperation with the Thoms family, the Thoms Estate is being restored to its original grandeur, with 250-year-old oaks dotting the landscape, expansive open spaces and the original manor house. The estate will feature artists' garden studios, stocked fly-casting pond, natural and formal gardens, cascading waters, cobblestone streets, library, fitness center, swimming pool, observation point and labyrinth. The Thoms Estate is located just three miles from downtown Asheville, North Carolina. Rising out of the Blue Ridge Mountains, Asheville is a city renowned for its eclectic and charming downtown which includes 390 art galleries, antique shops and fine restaurants. Ashville is also home to the historical Biltmore Estate and Grove Park Inn Resort & Spa. For further information, please visit the Thoms Estate website at www.thethomsestate.com .

About GC-Global Capital Corp.

Global Capital is a merchant bank which provides bridge loan services (asset back/collateralized financing), to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology.

"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."

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