SOURCE: Pine Ridge Holdings, Inc.

March 10, 2008 16:22 ET

Pine Ridge Holdings, Inc. Announces Name Change and Appointment of New President and CEO

FORT WAYNE, IN--(Marketwire - March 10, 2008) - Pine Ridge Holdings, Inc. (PINKSHEETS: PINR) announced today that the company has changed its name to Pine Ridge Holdings, and that the company has moved the corporate headquarters to Fort Wayne, Indiana, where it has current operations.

Additionally, the company is pleased to announce the appointment of Kevin May as the new President and CEO of Pine Ridge Holdings. May is founder of Pine Ridge Holdings. Previously, May was president and co-owner of an Indiana-based long-term health care company, which he founded in 1990. May owned and operated six long-term health care facilities in Indiana and Ohio that averaged over 20 million dollars in annual revenues. The business was sold in 1998. May serves on boards of various businesses, civic and other organizations and has a bachelor's degree in business administration from Taylor University, Upland, Indiana.

Pine Ridge specializes in the ownership and management of sports related businesses, specifically health and fitness clubs and indoor tennis facilities. Pine Ridge currently manages Pine Ridge Racquet Club and Pine Ridge Fitness Club located in Fort Wayne, Indiana, a seven-court, full-service indoor tennis facility, and Pine Ridge Fitness Club, a 12,000-square-foot, premier fitness facility currently employing 35 people. In addition, the Company manages the tennis operations for Pine Valley Country Club, Fort Wayne, Indiana, and a tennis facility in Warsaw, Indiana.

May further commented, "I believe this year is poised to be an exciting year for Pine Ridge and investors alike. I look forward to updating investors of the various opportunities as they continue to unfold. Health and Fitness is a 14.1 billion dollar industry, serving nearly 40 million members in the USA but it is highly fragmented with only a handful of companies having a national presence and the majority is regional or local."

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

Contact Information

    Pine Ridge Holdings, Inc.
    Kevin May