SOURCE: Podium Venture Group, Inc.

May 23, 2007 09:36 ET

Podium Venture Group, Inc. Subsidiary N'East Magazine Issue 9 on Newsstands

PORTLAND, ME -- (MARKET WIRE) -- May 23, 2007 -- Podium Venture Group, Inc. (PINKSHEETS: PDVP), an apparel, media, and publishing holding company in the lifestyle sports industry, announced today subsidiary N'East Magazine Issue 9 is on newsstands.

"Issue 9 is our strongest yet in all categories. Ad sales, distribution expansion, forecasted sell-through and subscriber gains. The issue proves yet again that N'East has quickly become the source for lifestyle sports, travel and news for the northeast. The issue is heavily surf & skate focused as those two markets have shown the strongest advertising and readership interest. With an increase of over 7,000 copies distributed over the previous issues, Issue 9 will surely be a tremendous success and kick-off the summer season." -- Jim McGinley, President & CEO, Podium Venture Group, Inc.

Mr. McGinley continues on the acquisition of N'East Magazine:

"On May 18th we announced the company share structure. It is important to understand that while we do anticipate the closing of the remaining 51% to occur very near term -- this acquisition has already been factored in the current share structure and will not have a direct effect on the company's share structure as previously announced. It should also be understood that any delay in the closing of N'East Magazine in previous months was only to further allow responsible maturing of company assets and brands currently held by the company."

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