SOURCE: Gleeworks Inc.

May 09, 2011 16:16 ET

Gleeworks, Inc. Announces Acquisition, Name and Symbol Change

CULVER CITY, CA and LOS ANGELES, CA--(Marketwire - May 9, 2011) - Gleeworks, Inc. (PINKSHEETS: CAPA), today announces an acquisition and change of name and trading symbol.

The Board of Directors is pleased to announce that the company has acquired all of the outstanding ownership interests of Capital Art, LLC, an art business headquartered and registered in the state of California.

Capital Art, LLC acquires, manages and editions some of the world's most iconic photographic images for the art, editorial and commercial markets. The company is a global leader in the marketing and distribution of images printed from original negatives by some of the 20th Century's most important photographers. Images include historic shots of Marilyn Monroe, James Dean, Frank Sinatra and Elizabeth Taylor, Jimi Hendrix, Jackie Robinson and other beacons of popular culture. The company also makes photos available to major publications such as The Sunday Times, Paris Match, Rolling Stone Magazine and The Hollywood Reporter on a worldwide basis through its joint venture with Getty Images. Capital Art sells its limited editions through the company owned gallery in Los Angeles and through third party galleries, art consultants and interior decorators.

Under the terms of the agreement, the company acquired all of the issued and outstanding ownership interests of Capital Art, LLC and pursuant to the agreement the company elected Norman Solomon as its President and a director of the Board. As a result of the acquisition, the former owners of Capital Art, LLC have been issued 7.5 million shares of the company's Common Stock, representing approximately 51% of the total shares currently issued.

Norman Solomon has considerable experience and knowledge in the limited edition and fine art photographic reproduction market. He commenced his photography career in Paris by producing Helmut Newton's Life Perspective Collection in 1985 entitled "Private Property." Subsequently, he facilitated the acquisition of the Frank Worth Collection and maintains a close working relationship with leading photographers from around the world.

Gleeworks, Inc. also announces a change of name to Capital Art, Inc. effective today Monday May 9th, 2011.

The new trading symbol of Capital Art, Inc. is CAPA.

Chief Executive Officer, Sean Goodchild commented, "We are extremely pleased to announce the acquisition of Capital Art, LLC and the change of the company's name to Capital Art, Inc. with the new trading symbol CAPA. The board also extends a warm welcome to Norman Solomon as President and director. Today marks the culmination of eight months work preparing and structuring the business to provide a solid platform for the company's focus in the art market. The company expects to make announcements regarding new agreements for licensing and distribution in the near future."

Capital Art, Inc. disclosure information will be available on the Company website and through the OTC Disclosure service.

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Forward-Looking Statements:
A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. When used in this press release, words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward looking statements

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