SOURCE: Principal Capital Group, Inc.

February 27, 2008 11:41 ET

Principal Addresses Shareholder Post Split Questions and Concerns

BEVERLY HILLS, CA--(Marketwire - February 27, 2008) - Principal Capital Group, Inc. (PINKSHEETS: PCPG) announced today that it wishes to address shareholder post split questions and concerns.

Mr. Harold Gregg, the interim President, said, "Yesterday our office received numerous correspondence from shareholders asking questions regarding the new direction of the company and what will be happening to the equity ownership position of existing shareholders. As it stands right now, for every 100,000 shares a shareholder previously owned, they will now hold 1 new share of common stock. In addition, the Board has authorized the allocation and distribution of 600,000 shares of the Company's common stock for the benefit of bonafide shareholders of record as of February 26, 2008. That pool of 600,000 shares of common stock will be issued, on a pro rata basis, to shareholders that can verify the number of shares they've purchased and at what price their shares were purchased. Said shares are being issued promulgated under Rule 144 and will have registration rights associated with each share issuance."

The Company further stated that the following web page, http://www.principalcapitalgroup.com/shareholder.htm, will be available starting February 28, 2008. Principal is asking that all bonafide shareholders of record as of February 26, 2008, go to this website and complete the information page so the Board can verify the information and accordingly issue from the pool of shares. The Company further stated that this shareholder process will begin February 28, 2008 and conclude Monday, March 31, 2008. Bonafide shareholders of record that do not wish to use the internet may call the company's shareholder department at 800-881-3321 ext 82 and speak with a shareholder representative Monday - Friday from 9am - 5pm PT.

About Principal Capital Group, Inc. -- Headquartered in Beverly Hills, PCGP is a holder of industry specific 40 Act funds. Our current holdings include Principal Structure Fund, Inc. (http://www.principalstructurefund.com) and Principal Mortgage Fund, Inc. (http://www.principalmortgagefund.com). It is the intent of the Board and Management to identify and or form 4 new industry specific 40 Act funds in 2008.

Forward-Looking Statements

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Principal Capital Group, Inc.
    Harold Gregg
    800.881.3321
    Email Contact