SOURCE: Carley Enterprises, Inc.

August 24, 2006 13:07 ET

Carley Enterprises, Inc. Announces Stock Buyback Program

BLOOMINGTON, IL -- (MARKET WIRE) -- August 24, 2006 -- Carley Enterprises, Inc. (PINKSHEETS: CRLY) , a diversified holding company which assists emerging, revenue-producing companies in their growth efforts, announced a buyback plan for up to 500,000 thousand shares of its common stock.

With regard to the announcement of the buyback plan, Carley Enterprises CEO Matthew Carley stated, "It is our opinion that Carley Enterprises' current stock price does not accurately reflect the Company's value and potential shareholder benefit. As a result, we believe a buyback at this time is consistent with Carley Enterprises' further growth efforts and will enhance shareholder value."

About Carley Enterprises, Inc.:

Carley Enterprises, Inc. seeks to acquire interests in emerging companies and assist the companies with their growth efforts. Carley Enterprises, Inc. also invests in private companies and businesses in which it believes have growth and profit potential.

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgment of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties, including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, the receipt of revenues, and other factors, many of which are beyond the control of the Company.

All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

Contact Information