SOURCE: City Capital Corp.

September 18, 2006 12:00 ET

City Capital Appoints Former Barbados Consul Donald R. McCarthy to Board of Directors

KANSAS CITY, MO -- (MARKET WIRE) -- September 18, 2006 -- City Capital Corporation (OTCBB: CCCN) today announced that Board members had nominated and approved the addition of Donald R. McCarthy to serve as a Director. Mr. McCarthy has accepted, bringing significant international and governmental experience and relationships to assist City Capital in its multiple business ventures.

From 1981 until his retirement in 2006, Mr. McCarthy served as Consul to the U.S. from the Caribbean nation of Barbados. He also served as the Senior Business Development Manager for the Barbados Tourism Authority. During his career he has advised hundreds of corporations and investor groups on investment opportunities in the Caribbean, and acted as liaison to forge governmental and corporate relationships to assist development in the region. He is a highly sought-after lecturer on Economic, Trade and Tourism Culture, and the Caribbean Basin Initiative (CBI) at such venues as Pepperdine University, University Of Austin, Stanford University, Pan Am Airlines Annual Sales Conference and various Caribbean Tourism Organization Seminars.

Mr. McCarthy earned his Bachelors and Masters of Business Administration degrees at the Western States University in Fullerton, CA. He has undergone specialized training at Pace University, University of Surrey in the United Kingdom, the Barbados Institute of Management and Productivity, and other specialized programs worldwide.

Mr. Ephren Taylor, CEO and Director of City Capital Corporation (OTCBB CCCN), said of the appointment, "Mr. McCarthy brings an intimate understanding of the processes and requirements for successful development in the Caribbean. We have already been approached by governments in the region in need of affordable housing for their citizens. With Mr. McCarthy's extensive experience and his assistance as a member of our Board, we believe many of the obstacles faced by other developers in the area will be minimized, and we will be better equipped to expand City Capital internationally."

About City Capital

City Capital Corporation (OTCBB: CCCN) is a Business Development Company (BDC) authorized by Section 54(a) of the Investment Company Act of 1940 to make loans and equity investments in developing business enterprises. City Capital currently manages the day-to-day development process for the Kansas City (Missouri) Historic Jazz District. City Capital also owns majority interest in Goshen Energy Resources, Inc., engaged in the buying, selling & drilling of oil & gas properties in South Louisiana, and mineral leases in the Northern portion of the Ft. Worth Basin Barnett Shale Play.

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-KSB for the year ended December 31, 2005, 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.

Contact Information