SOURCE: Podium Venture Group, Inc.

July 09, 2007 08:56 ET

Podium Venture Group, Inc. Comments on Company Structure

PORTLAND, ME--(Marketwire - July 9, 2007) - Podium Venture Group, Inc. (PINKSHEETS: PDVP), an apparel, media, and publishing holding company in the lifestyle sports industry announced that the current common stock authorized remains at 500,000,000 with 488,000,000 issued and outstanding.

"While we continue to grow this company through organic and external platforms -- the current authorized common stock remains at 500,000,000. Moreover, as stated before, we have no current intentions to increase this number. Podium and its currently held brands are quickly realizing the stability and synergies that our "brand incubator" concept can provide. We intend to continue this momentum into the second half of 2007. Increasing the authorized with current capitalization and market presence would not give us the opportunity to explore growth, whether internally, through acquisitions, or in moving to a senior exchange. Shareholder value is of course a paramount concern as well. For now, as it has been since our inception -- we move forward with a clearly defined strategy, momentum in the marketplace, and tremendous brand synergy." -- Jim McGinley, President & CEO, Podium Venture Group, Inc.

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.

Contact Information