Public Company Management Corporation
OTC Bulletin Board : PUBC

Public Company Management Corporation

June 24, 2005 11:59 ET

CORRECTION FROM SOURCE: Public Company Management Corporation Completes First Step for Legacy Communications Corporation

LAS VEGAS, NEVADA--(CCNMatthews - June 24, 2005) - The following corrects and replaces the release sent earlier today, June 24, 2005 @ 0915ET. The headline of the press release has been revised.

Public Company Management Corporation (OTCBB:PUBC), an emerging company providing consulting and advising services to companies seeking to access public capital markets, announced that it has completed the first milestone in its contract to advise and assist Legacy Communications Corporation to become a public company.

Organized in September 1997, Legacy Communications Corporation is a holding company of media properties with its principal focus on radio station acquisition, development, operation and marketing. Legacy is a relatively small company compared to others in its industry, such as Beasley Broadcast Group (NASDAQ: BBGI), Citadel Broadcasting Corporation (NYSE: CDL) and Clear Channel Communications (NYSE: CCU).

Through its various subsidiaries, Legacy Communications Corporation buys, develops, operates and sells radio stations. Legacy has made a name for itself in its industry by purchasing broadcast properties that have significant upside potential when provided proper management, engineering, programming and marketing. Through best practices in marketing and operations, Legacy significantly improves the performance of its holdings and the company's return on investment, selling the renovated stations to other media companies at a profit.

Legacy currently owns 12 radio stations and/or construction permits or options for new stations along Interstate 15 from Las Vegas, Nevada, to Pocatello in Southeastern Idaho, Honolulu, Hawaii, Bishop, California and several Nevada communities. The company is currently in the process of buying and selling additional broadcast properties. Since its incorporation in 1997, Legacy Communications has participated in numerous profitable transactions within the media industry. The details of some of the company's recent dealings are below.

- Legacy purchased distressed FM Radio Station (104.9MHz), licensed to Tremonton, Utah, for $65,000 and seven years later sold the station for $1.75 million.

- Legacy purchased KGNT (FM) 103.9MHz, licensed to Smithfield, Utah, for $325,000 to operate in cooperation with FM 104.9MHz. Legacy later sold the station for $735,000.

- Legacy purchased AM 1450kHz, based in St. George, Utah, from a partner in bankruptcy and sold the station in combination with FM Radio 99.7MHz and multi-user tower site for $2.25 million.

- Legacy purchased an FM station 95.7MHz licensed to Delta, Utah, for $115,000 and sold the station for $1.25 million.

About Public Company Management Corporation

PUBC helps business owners create liquidity for investors and long-term value for their companies, shareholders and partners by participating in public capital markets. PUBC supports the full lifecycle of entering the public market through its various subsidiaries:

Education -- Pubco White Papers ( hosts a comprehensive body of knowledge on private and public equity markets.

Registration and listing -- Go Public Today ( provides a complete solution to help small companies register securities for public offerings and obtain a listing on the OTCBB.

Regulatory compliance -- Public Company Management Services ( assists new and existing public companies in negotiating the new complexities of maintaining a public company and creating sustainable and affordable compliance processes.

PUBC leads by example, demonstrating to current and future clients best practices in taking a company public, investor relations, public relations, regulatory compliance, and raising capital.

Safe Harbor

This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

Public Company Management Corporation (OTC Bulletin Board: PUBC)

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