SOURCE: Legend Mobile

August 22, 2007 08:46 ET

Legend Credit Signs Letter of Intent With a Combat Sports Company

NEW YORK, NY--(Marketwire - August 22, 2007) - Legend Credit, Inc (OTCBB: LGMB) today announced that it has signed a letter of intent with an established promoter of combat sports events.

Under the terms of the proposed agreement, Legend Credit plans to develop programming for cable television, Internet streaming, merchandising and licensing, video on demand, and foreign rights sales derived from mixed martial arts events currently being held by the promoter.

Legend's planned promotion partner holds regular shows in the western United States and has been involved in the sport for the past five years. This company has an existing library that Legend hopes to immediately monetize if a definitive agreement is reached.

Mixed martial arts is a sport that is growing in popularity around the world. The sport combines a variety of fighting styles. The sport is regulated in 33 different states and numerous foreign countries. Top mixed martial arts fights have generated pay per view buy rates in excess of one million purchases.

Legend Credit plans to change its name to reflect its new business model if a definitive agreement is reached.

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 including statements regarding our planned entry into the mixed martial arts sport and immediately monetizing the promoter's existing library. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various risks and uncertainties, including our ability to enter into a definitive agreement, the ability of Legend to fund the exploitation of certain rights, the public acceptance of mixed martial arts, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our filings with the SEC include other risks that may negatively affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements other than as required by law.

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