SOURCE: Podium Venture Group, Inc.

May 01, 2007 10:43 ET

Podium Venture Group, Inc. Acquires Majority Interest in Corduroy Surf Company

PORTLAND, ME -- (MARKET WIRE) -- May 1, 2007 -- Podium Venture Group, Inc. (PINKSHEETS: PDVP), an apparel, media, and publishing holding company in the lifestyle sports industry, announced today that they have closed on the majority acquisition of Corduroy Surf Co., a surf lifestyle retailer.

"Corduroy Surf Co. fuses the business models of a traditional surf shop with the higher-end, urban boutique model creating a hybrid shop. We intend to develop a loyal customer base in each identified urban community by integrating ourselves into the city's surf, art, and social scene by offering monthly art openings, exclusive product showcases, movie premieres and being the forefront retail shop of the local surf lifestyle consumer," said Chris Cary, Retail & Brand Manager, Corduroy Surf Co.

Podium Venture Group, Inc. President & CEO, Jim McGinley:

"Podium Venture Group is in the business of building brands in the lifestyle sports industry. Corduroy Surf Co. displays the requisite ambition, [surf] industry experience, and above all, a forward thinking business model that focuses on organic growth both in the retail and online applications. Our plan now is to support management with the first storefront opening scheduled for the end of this month while developing the online sales application and website scheduled to launch late summer. We are also working with commercial leasing agents to secure space in other identified cities to expand the retail storefront model rapidly."

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

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