SOURCE: World Hockey Association

March 06, 2007 09:00 ET

Nexus Capital Holdings, LLC Informs The World Hockey Association It Is Not a Party to Any Litigation Against the WHA in Nevada or Anywhere Else

The WHA Suspects a Malicious Stock Manipulation Scheme Is the Motive for This Nuisance Lawsuit

VANCOUVER, BC -- (MARKET WIRE) -- March 6, 2007 -- World Hockey Association (PINKSHEETS: WHKA) announced today that it has been advised by Nexus Capital Holdings, LLC, a Texas Company, that Nexus is not a party to any litigation against the WHA.

On February 16, 2007, Global Developments, Inc. a publicly traded Delaware Corp and Nexus Asset Holdings LLC, a Texas limited liability company filed a lawsuit in a Nevada US District Court against the WHA claiming the WHA had violated a loan agreement with the two parties.

Soon thereafter, on February 20, 2007, the WHA issued a press release surmising the lawsuit was a response to the WHA's earlier claims it would be filing a suit against Global Developments, Inc. as being the responsible party for illegal spam on WHKA stock. WHA CEO Ricky Smith also stated at the time that the WHA had never been party to any agreements with either of the companies which had filed the suit and speculated the lawsuit "might be a maneuver with some unknown intentions in mind."

Two days later, on February 22, 2007, another document was filed with the US District Court in Nevada certifying that Nexus Capital Holdings, LLC and Global Developments Inc. were the only parties known to have an interest in the case.

CEO Ricky Smith commented, "We thought it was very strange that the parties to the lawsuit suddenly changed just two days after we denied any agreements existed with the parties that had originally filed the Nevada suit. To our bewilderment, one day we were being sued by Nexus Asset Holdings, LLC and just a few days later a document for the same suit claimed it was Nexus Capital Holdings, LLC who was suing us. We then contacted the owners of the Texas Company listed as the certified party to the suit, Nexus Capital Holdings, LLC, out of Texas and attempted to get an explanation for this bizarre occurrence. Nexus Capital Holdings, LLC has informed us in no uncertain terms that they have never been a party to any lawsuit against the WHA and do not have any knowledge that such a lawsuit exists. Nexus Capital has promised us they would issue news verifying this very shortly."

Smith went on to add, "We cannot imagine any other reason for this very odd musical chairs series of events than that the lawsuit is nothing more than part of a stock manipulation scheme conducted on behalf of Global Developments, Inc. -- a company with which we have never had any agreements whatsoever, but who nevertheless insisted on listing WHKA stock as a portfolio asset of Global Developments, until recently.

"Our company's stock is trading with a market capitalization of just a little over one million dollars This is patently absurd given the fact that we have made great strides in getting our new hockey league through its first season and are well underway with plans to expand our league more than twofold for next season. We think we know where the blame lies for this travesty and in the coming days, we feel shareholders should be pleasantly surprised at our response to this chicanery," Smith asserted.

"The WHA remains more committed than ever to provide a first class hockey league to young players and hockey fans in Western Canada and the Northwestern United States," Smith articulated. "Players, fans, and most importantly, our shareholders should keep their eyes peeled for further announcements with respect to these issues," Smith said.

Smith went on to say, "The WHA continues to compile a mountain of evidence to be used in our own lawsuit which will address the illegal spam issue as well as suspected and evidenced activities regarding the issuance of illegal and unauthorized shares into the market for WHKA stock. This is much more than a fight on the ice," Smith emphasized. "We are going to see to it that the guilty parties be held fully responsible and be held liable for the enormous damages incurred by the league as a result of their actions."

About the World Hockey Association:

The WHA created the WHA Junior West Hockey League to promote the sport of hockey. The Junior West Hockey League is an alternative, community-based league for highly skilled junior players, and is designed to promote high standards of sportsmanship in hockey.

As a listed company on the Over-The-Counter Pink Sheets our mission is to provide a financially sound economic model that is responsible to WHA investors, coaches and staff, and the junior hockey players participating on each team. Fan satisfaction is a primary consideration in our decision making process.

Forward-Looking Statements

Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.

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