SOURCE: Cephas Holding Corp.

March 15, 2010 09:11 ET

Cephas Prepares Subsidiaries for Acquisitions

NEW YORK, NY--(Marketwire - March 15, 2010) - Cephas Holding Corp. (PINKSHEETS: CEHC)

Cephas Holding Corp. currently has interests in two subsidiaries: Legend Studios Inc. and Legend Credit Inc. Cephas Holding has begun the process in conjunction with the 2009 audit of the parent company to prepare the subsidiaries for use in potential acquisitions.

Additionally, the Company expects to file registration statements for the two subsidiaries on Form 10-12 with the Securities and Exchange Commission within the next 12 months.

Cephas anticipates using the subsidiaries to acquire partial or whole interests in companies that are related to the core business of iPhone applications. The company believes that there may be opportunities in content, mobile advertising, or noted brands and personalities in so called "360 deals" for mobile applications.

This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements by management, statements concerning management's plans, objectives and strategies, and management's assessment of market factors and conditions, constitute forward-looking statements. Specifically, statements relating to the use of subsidiaries for acquisition and our ability to enter into definitive agreements and ultimately consummate such acquisitions, as well as the ability to successful register these companies with the Securities and Exchange commission are forward looking and no assurance can be made that we will complete such transaction. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, including, without limitations, the volatility of domestic and international financial, bond and stock markets, intense competition, extensive governmental regulation, litigation, substantial fluctuations in the volume and price level of securities and other risks as detailed in the Company's filings with the Securities and Exchange Commission.

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