SOURCE: Concorde Resources Corp.

March 07, 2006 10:00 ET

Concorde Resources Corp. Enters Into Letter of Intent to Acquire Franchise Chain

PORT ST. LUCIE, FL -- (MARKET WIRE) -- March 7, 2006 -- Concorde Resources Corp. (OTC: CCDE) announced today that it has entered into a Letter of Intent (the "Letter of Intent") to acquire the assets of "Weight Loss For Life and Wellness" ("WLFLW"), a chain of weight loss and wellness franchises in North Carolina owned by Toni Inc of NC.

Upon a Definitive Agreement, Concorde will create a subsidiary to be named appropriately, Weight Loss For Life and Wellness Inc., (Nevada) to be majority owned (51%) by Concorde Shareholders and minority owned (49%) by the franchise operators and private investors.

Concorde is in further negotiations to acquire majority ownership of highly complementary franchise lines, each to mutually enhance marketing and revenues of its counterparts.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by CCDE may differ materially from these statements due to a number of factors. CCDE assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.

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    Stephanie Soleas