Riverbank Investment Corp.
OTC Bulletin Board : RRBK

Riverbank Investment Corp.

June 07, 2006 09:00 ET

Riverbank Investment Corp Makes Second Strategic Step Into Energy Market

ANAHEIM HILLS, CALIFORNIA--(CCNMatthews - June 7, 2006) - RIVERBANK INVESTMENT CORP (OTCBB:RRBK) announced today an agreement to acquire an existing Western Kentucky producing oil company.

CEO John Carsta said, "Acquiring an existing energy company with proven oil reserves on 425 acres with estimated oil reserves of 250,000 barrels, will dramatically increase the cash flow of the Company and will set the stage for dynamic growth of Riverbank and will be very beneficial to the shareholders."

The company will be refurbishing the existing 35 plus wells and has future plans for the drilling of new wells therefore discovering additional the oil reserves. Riverbank believes the company is moving in the right direction in entering the energy field as the price of oil and gas prices have skyrocket and this will increase the value of the shares in Riverbank. CEO John Carsta stated, "I, as well as everyone in the company am very excited about the acquisition and we will be developing a new web site so the shareholders can see for themselves the progress the company will be making in months to come."

It is anticipated this acquisition shall be completed within the next two weeks and the refurbishing and the planned drilling of new oil wells shall start as early as the end of June. Acquiring an operating oil company comes on the heels of Riverbank entering the energy business. Revenues from the company's first oil and gas well in Oklahoma should start coming into the company within the next 60 to 90 days.

About Riverbank.

Founded in 1996, Riverbank is a development stage investment company with interests in mining and agricultural land in the Philippines and holds investments in American marketable securities.

This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available informational reports published with the Pink Sheets.. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.

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