SOURCE: City Capital Corp.

August 30, 2007 09:30 ET

City Capital and Goshen Energy Resources, Inc. to Enter Bio-Energy Marketplace

NASHVILLE, TN--(Marketwire - August 30, 2007) - Goshen Energy, a wholly owned subsidiary of City Capital Corporation (OTCBB: CCCN), today announced after almost a year of due diligence, research, and evaluation that the company has decided to expand into the bio-energy arena. Goshen's first planned investments will be in the area of B100 biodiesel fuel production. The company will be exploring capital options to fund the development and expansion of its biodiesel production facilities.

"City Capital is in discussions to build five regional hubs for distribution of our B100 biodiesel fuel over the next 24 months, and to establish at least two university research centers. Our team is excited about ongoing developments," he says. The initial planned biodiesel hub and research areas include Coastal South Carolina; Louisville, KY; Las Vegas, NV; Philadelphia, PA; Dover, DE; Los Angeles, CA; and Dallas, TX.

"We’ve increasingly become concerned that our existing real estate model was vulnerable to recent changes in the market. We chose to be proactive, to eliminate existing real estate debt and launch a new initiative that propels us to the front of one of the most flourishing industries in the global economy: renewable energy. We believe these initiatives will help secure and increase our shareholders' value."

Recently, Lucian Development, LLC contracted to acquire the majority of City Capital's real estate holdings, eliminating over $4,000,000 of liability. Lucian has contracted with City Capital to manage their real estate portfolio and other developments.

"We will continue to leverage our relationships with municipalities and communities globally, to create strategically profitable partnerships in both real estate and renewable energy. It was the urging of several individuals and groups in these five cities that encouraged us to pursue the biofuels arena. We believe our advance work on the real estate side will payoff with swift and efficient growth in the bio-energy arena," said Taylor.

Taylor described Goshen's biofuels vision as fourfold:

1) To create economically viable rural communities by partnering with municipalities and farmers to grow energy-specific crops, saving valuable food and feedstock resources such as soy and corn, which are currently being overused for alternative fuels.

2) To provide new opportunities for economic development through research, education and job training for renewable energy concepts and product development.

3) To help reduce greenhouse emission gases through production of clean-burning burning biofuel and other innovative technologies

4) To increase national security through energy independence.

"While most biofuels companies are focused on developing ethanol from food crops, we are looking in the direction of specialized crop development specifically for biofuel use. We believe that our positioning in biofuels gives us a strategic advantage over many of our competitors in the ethanol industry, who are relying on limited resources of food crops," emphasized Taylor.

For more information on partnerships or services, contact Rosella Sprow for Goshen Energy Resources at 615-778-1724 or exploregoshen@citycapcorp.com .

To book Ephren Taylor for speaking engagements, appearances, conferences or seminars, contact Raoul Davis at raouldavis@ascendantstrategy.net.

About City Capital

City Capital Corporation (OTCBB: CCCN), founded in 1984, is engaged in leveraging investments, holdings and other assets to create self-sufficiency for communities around the country and the world.

This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties, including those described in the Company's annual report on Form 10-K for the year ended December 31, 2006, that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, its ability to consummate, and the timing of, acquisitions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate. The Company makes no undertaking to update such forward-looking statements.

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