SOURCE: Podium Venture Group, Inc.

June 07, 2007 09:45 ET

Podium Venture Group, Inc. Announces Company Share Structure; President Jim McGinley Addresses Recent Events

PORTLAND, ME--(Marketwire - June 7, 2007) - Podium Venture Group, Inc. (PINKSHEETS: PDVP), an apparel, media, and publishing holding company in the lifestyle sports industry, announced today the total number of authorized common stock remains at 500,000,000 shares with 369,460,887 issued and outstanding and 186,700,431 free trading.

President Jim McGinley noted: "From the beginning, Podium Venture Group, Inc. has been in the business of developing emerging brands in the lifestyle sports industry. We have maintained that this will be performed through acquisitions, vertical growth and capitalization. Our plan for growth is plainly stated on our website

"In the last 5 months we have acquired 100% of Erino Clothing, an emerging surf-lifestyle apparel company. We have acquired majority ownership of Corduroy Surf Company, a surf apparel and hardgoods retail company. We have acquired 49% of N'East Magazine, a high quality, flourishing action sports magazine that has seen double digit increases in both distribution and revenue in 2007, with a first option agreement in place and closing pending for the remaining 51%, yet these accomplishments represent but milestones on the road of Podium's future growth.

"With this rapid growth, we have weathered typical market volatility that can be found in nearly any expanding company. It is with great emphasis then, that I continue to maintain that the current PPS does not accurately reflect this company's value. Even with a total of less than 500,000,000 issued and outstanding shares, the current price per share yields a market cap of less than $1,000,000. This is not only a grossly under valued position, in my opinion, it is market absurdity. That said, we remain committed to building this company with the model we have in place and with constant attention to industry trends. It is this steadfast devotion to our mission, confidence and momentum that will ultimately be reflected by an accurate price per share."

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

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