SOURCE: Empyrean Holdings, Inc.

June 22, 2006 09:30 ET

Empyrean Holdings Inc. Confirms Activation of Wholly Owned Subsidiary, Empyrean Financial Services, Inc.

HOUSTON, TX -- (MARKET WIRE) -- June 22, 2006 -- Empyrean Holdings Inc. (OTCBB: EPYH), a national diversified holding company, is pleased to report that its wholly owned subsidiary, Empyrean Financial Services, Inc. (EFS), has commenced business. Empyrean's CFO, Bill Melchiori, will serve as President of EFS and the company's CEO, Robert Lee, will contribute his many years of international financial consulting and business development experience as a Director and Consultant.

CEO Robert Lee added, "Mr. Melchiori is in the process signing up several Clients that will utilize the accounting, financial advisory and business development services that will be provided by EFS on a set monthly fee basis. It is anticipated there is a good possibility that revenues from Client fees will make the company self-financing in the near future. The provision of financial consulting services to Clients interested in doing business overseas is also being reviewed."

Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.

Contact Information

  • Contact:
    Empyrean Holdings Inc.
    Houston, TX
    Robert Lee
    (713) 243-8731
    www.epyh.com