SOURCE: Legends Business Group, Inc.

October 09, 2008 08:45 ET

Legends Business Group, Inc. Announces Repayment of All Long-Term Debt

CASSELBERRY, FL--(Marketwire - October 9, 2008) - Legends Business Group (OTCBB: LGBS) announced today the complete repayment of all long-term debts in association with dramatic increases in working capital due to its exceptionally strong third quarter. While third quarter results will not be released until mid November, Legends has projected its third quarter of 2008 to reflect its third consecutive quarter with gross revenue increases triple of the previous quarter.

"In spite of the existing global financial environment, we are very pleased with the strategic success of our business model. It demonstrates our commitment to growth and shareholder value. We now have sufficient cash flow to sustain our plan of operation. While our credit line will remain open and available, the company does not anticipate a need to utilize this credit line in the foreseeable future," said Larry Powalisz CEO and President of Legends Business Group.

"Our continuing focus on improving operating efficiency and aligning our infrastructure to take us into the future has helped us consistently deliver meaningful gains since entering the public arena. We are continually adapting our lines of business to meet and exceed the challenges that may lie ahead. Our strategic successes are an extremely positive indicator that we have been able to meet the challenges we face as we continue to expand our market presence. Our repayment of all long-term debt including: notes payable; accrued salary expenses and shareholder advances including all start up costs, serves to dramatically enhance our balance sheet as well as strengthen our ability to deliver on our promise to drive shareholder value," continued Powalisz.

About Legends Business Group, Inc.:

Legends Business Group, Inc. is an Over the Counter Bulletin Board stock which trades under the symbol LGBS. To obtain additional information about Legends Business Group, Inc., please visit the Company's website, which may be found at: www.lbgi.net.

This press release contains statements that are "forward-looking," and involve a number of risks and uncertainties. Statements that are not historical facts are considered forward-looking statements, and are subject to Safe Harbor provisions as defined in the United States Private Securities Litigation Reform Act of 1995. Company results and performance may be materially different from future results, strategies, plans or goals expressed or implied by any forward looking statements made herein. The Company disclaims any obligation to update or revise any forward-looking statements.

Contact Information