SOURCE: London & Pacific Healthcare, Inc.

March 08, 2007 09:30 ET

London & Pacific Healthcare, Inc. Announces Initial Acquisition

Established Corporate Finance Firm to Create Additional Value and Expand Global Reach

EL SEGUNDO, CA -- (MARKET WIRE) -- March 8, 2007 -- London & Pacific Healthcare, Inc. ("London & Pacific," the "Company") (PINKSHEETS: LDPH) (www.lphealthcare.com) is pleased to announce that it has completed its acquisition of London-based City & Westminster Advisers Limited ("City & Westminster"), a corporate finance business. An established and well experienced firm of seven corporate finance professionals, City & Westminster will create added reach to London & Pacific through its network of global relationships. The initial consideration for the acquisition of City & Westminster is 10 million common shares of London & Pacific and up to an additional 10 million shares based on achieving certain revenue and income goals.

"City & Westminster is the perfect acquisition for us," said Stuart Bruck, Executive Chairman of London & Pacific Healthcare. "The two businesses offer complementary services and will have numerous synergies. In addition, City & Westminster's specialized service capabilities combined with management's commitment to proactive, hands on approach to clients will position London & Pacific as a leading, full-service consultancy in the healthcare sector, especially for deals originating from or requiring proven corporate finance services in the UK and Europe."

Based in London, City & Westminster provides companies with capital and financial advisory services. It is unique in that the executive team has a successful track record of developing, expanding and improving companies. City & Westminster advises its clients in areas such as corporate finance, private placement financing, mezzanine financing, structured financing either through IPO or reverse merger, mergers and acquisitions, investment management and general strategy and management.

With the acquisition of City & Westminster, the Company also announced that London-based John J. May, who is currently Chief Financial Officer and Deputy Chairman of London & Pacific Healthcare, has been elected as the Chairman and CEO for the new subsidiary. May has over 20 years of executive level experience, which includes appointment to the Board of Directors of AIM-listed Platinum Diversified Mining, Inc., Netcentric Systems Plc, NASDAQ listed Avatar Systems, and Southbank UK Plc.

"This major acquisition to our team should bring a wealth of experience and insight to London & Pacific, as it continues to deliver value and generate growth to client companies internationally," added Bruck. "Our main goal remains to continue our focus on existing client companies while at the same time, exploring new market opportunities for our organization."

Additional executives added to the London office as a result of this transaction will include:

Douglas Wright, Managing Director of City & Westminster Advisers, has spent more than 25 years in the City of London working in various areas of finance. This experience includes the marketing of mutual funds, structured products and hedge funds to institutions and other professional intermediaries, mostly throughout the financial markets of Europe, the Middle East and the Far East. Mr. Wright concentrates on advising and assisting companies on all aspects of fund raising (both pre-IPO and IPO), seed/early stage/venture capital, mergers and acquisitions, business strategies and admission to the stock market, namely PLUS Markets, AIM, LSE (small cap), as well as non-UK stock markets. He is experienced across a broad range of sectors from natural resources to healthcare, especially on emerging markets such as China and India.

Within the corporate finance arena, Mr. Wright has over the last 10 years advised and assisted many small cap companies and raised funds for some top performing AIM listed stocks such as African Diamonds PLC, Petrel Resources PLC, EnCore Oil PLC, and most recently TomCo Energy Plc. Venture capital funds have also been recently raised in the healthcare sector for ProteinLogic, which is a highly promising diagnostics company out of Cambridge. Mr. Wright was previously a director with Tilney Investment Management (part of the Deutsche Bank Group), one of the largest private client stockbrokers in the UK.

Gerard Thompson, Managing Director of City & Westminster, provides senior management expertise through 35 years of experience in finance, marketing and administration, including corporate governance functions. Mr. Thompson brings particular knowledge of Renumeration and Audit committee functions and has extensive experience in investment banking, corporate finance, venture capital, pre-IPO to IPO funding, and business turn-around. Currently, he serves as Executive Director of TomCo Energy Plc since 1999, Managing Director of Northshore Capital Ltd since 2001, non-Executive Director for Croma Group Plc since 2003, Director for Coolcharm Gold Mining Company Ltd since 2004 and is an Accredited Mediator for ADR Group. Mr. Thompson began his career as Vice President with Merrill Lynch International Group and also held executive positions with Smith Barney and Co. and AIG Trading Corp. He completed his graduate studies at Johns Hopkins University and received his B.A. in Liberal Arts from Yale University.

Stephen Komlosy, Managing Director of City & Westminster, has over 45 years of experience in business as a proprietor and as director of a number of public companies operating both in the UK and the US. As Executive Chairman of AIM-listed investment company, PSG Solutions Plc (formerly London & Boston Investments Plc) until October 2005, Mr. Komlosy guided the company from a negative asset position to over £20m over a five year period, and moved the company to OFEX and then to AIM. He was formerly instrumental in the listings of PremiSys Plc and Netcentric Systems Plc on AIM and Avatar Systems, Inc. on NASDAQ, where he remains a Director. He has been director of a number of public companies including Branon Plc, a listed industrial holding company, which he co-founded, operating in the supply of equipment to the North Sea oil business; additionally, he was director in charge of the launch of Cavendish Petroleum Plc, an Ohio-based Gas and Oil producer, and co-founder of LPO, a West End property. Since 1964, Mr. Komlosy has built up three private companies, of which two have been merged with public companies.

H. Eric Seachris, Managing Director of City & Westminster, has over 25 years of experience in the international arena with extensive experience in product marketing. Mr. Seachris has worked extensively in Europe and the Middle East and has developed numerous market and distribution channels for small to medium sized companies. He has also been active in raising venture capital with over $100 million raised for client and personal companies. Mr. Seachris also held the position of Executive Director for the International Trade Alliance in Spokane, Washington, where he was responsible for promoting international trade for the states of Washington, Idaho and Montana. From 1997 to 2000, he was CEO of Vertecall Communications, a telecommunications company with offices in London, Tampa, New York and Spokane. Mr. Seachris has a BA from Washington State University and earned his MBA from the University of Phoenix.

Chris Parr, Legal Counsel for City & Westminster, is also a Partner with KSB Law, with offices in London, a general commercial law and property firm of 22 partners. Mr. Parr has over 20 years of experience providing legal guidance in the areas of M&A, MBO, JV and Shareholder Agreement transactions. Previously, he was a founder and Managing Director of Libra Transaction Services Limited, a services company in connection with commercial transactions: M&A, joint ventures, buying and selling goods and services, for a number of international clients in Europe, US and Australasia. These clients ranged from biotech, steel services, television, retail, machinery, transportation, IT and pharmaceuticals. Mr. Parr was also Vice President, Legal, Human Resources & Property Services for Heckett MultServ plc and SGB Group Limited, which were both part of Harsco Corporation Group ($2b in annual sales in 30 countries), where he had responsibility for the companies' offices in Europe, Far East, Australasia, and Latin America, as well as Head Office Facilities Management and executive management of all regional legal affairs. Mr. Parr has held positions as General Counsel or Legal Advisor for Solutia Services SA/NV, Monsanto Europe SA/NV, Air Products plc, John Brown Engineers & Constructors Limited, and Conoco UK Limited. He earned his LLB (Hons) in 1982 from Polytechnic of Wales, Pontypridd (now the University of Mid Glamorgan) and attended College of Law, Guildford, where he passed his Solicitors Final Exams in 1983.

Richard White, Managing Director and current Head of Corporate Finance for the WiltonGroup, has 30 years experience in corporate finance and accountancy. Since 1993, he has served as finance adviser, company director, chairman and consultant to a number of companies and projects. For the past five years, Mr. White has focused on advising and serving on the Boards of Interactive Projects Ltd., Trkm8 Ltd., and Interactive (UK) Ltd, which has resulted in the November 2005 listing of Trakm8 Holdings Plc on AIM and the subsequent acquisition of Interactive Projects Ltd., by Trakm8 Holdings in May 2006. Previously, Mr. White was a Director of English Trust Group Plc from 1992 to 1993 and was a Full Equity Partner and Head of Corporate Finance from 1984 to 1992 at Clark Whitehill (now Horwath Clark Whitehill), a leading national provider of accountancy and business advice in the UK. He began his corporate finance career with Lloyds Bank International Ltd., responsible for advising a wide range of clients and matters normally covered by the corporate finance division of a merchant bank. Mr. White qualified as a Chartered Accountant with Coopers and Lybrand in 1978 and is a Member of the Securities Institute since 1993 (MSI).

Stuart Adam, Managing Director of City & Westminster, has 20 years of experience as a professionally qualified accountant across a wide range of financial accounting, reporting, control and management functions in both public and private sectors, mergers, acquisitions and fundraising. He is currently providing commercial and financial accounting consultancy services for Netcentric Systems plc, Coolcharm Gold Mining Limited and City & Westminster Consultants LLP. From January 2005 to March 2006, Mr. Adam was Group Financial Controller for London & Boston Investments Plc, which is an AIM listed and FSA regulated group holding company with a number of wholly owned trading subsidiaries in the businesses of packaging, property search franchise, insurance and financial services. From January 2002 to December 2004, he was a Group Financial Controller for AFA Systems Plc and Finance Director and Company Secretary of seven of it subsidiary companies. Mr. Adam is a Member of Securities and Investment Institute (MSI - 1996) and qualified under CPFA (Chartered Institute of Public Finance and Accountancy) in 1991. He earned his MA (Hons) in Politics and Economics from the University of Glasgow in 1986.

About London & Pacific Healthcare, Inc.

London & Pacific Healthcare, Inc., with offices in the US and UK, works with a select group of healthcare companies and organizations to create extraordinary value, growth and financial returns. London & Pacific focuses its broad expertise in operational, regulatory and financial skills to achieve outstanding results for London & Pacific clients, partners and investors. For additional information, please visit the corporate website at www.lphealthcare.com.

Safe Harbor Disclaimer: This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as: the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.

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