The Prayer Palace

March 15, 2007 07:45 ET

Prayer Palace Addresses $1 Million Transfer to Florida

Prayer Palace spokespersons respond to Toronto Star allegations

Attention: Assignment Editor, City Editor, News Editor TORONTO, ONTARIO,MEDIA RELEASE--(CCNMatthews - March 15, 2007) - March 15, 2007, TORONTO - Prayer Palace documents show that the $1 million CDN transfer to Florida was used to purchase a church in Bradenton. Records show no connection to the purchase of any other properties in Florida.

Pastor Paul Melnichuk and The Prayer Palace board of directors recognized the need to start a church to help inner city families in Bradenton.

"The board of directors was excited about this opportunity to expand into Florida," says Dave Ramnath, senior advisor to The Prayer Palace board. "I personally handled the transfer of funds on behalf of The Prayer Palace for this purchase."

The purchase price of the property was $750,000 U.S. and confirmed by the board of directors to be a prudent investment and the first step in the church's Florida mission.

Bruce Armstrong, an independent Chartered Accountant (CA) and Certified Fraud Examiner (CFE), has been retained by The Prayer Palace. His conclusions will be made public and will confirm The Prayer Palace's records.

-30-

Frank Fernandes and David Ramnath (members of The Prayer Palace board of directors) are available for interviews. To schedule an interview contact:

Peter Turkington
Direct Phone: 905.901.9218
Email: pturkington@stratcommsolutions.ca IN: RELIGION

Contact Information