SOURCE: Victory Capital Holdings

August 15, 2005 09:44 ET

Shareholder Update on Progress at L&M Resources

LOS ANGELES, CA -- (MARKET WIRE) -- August 15, 2005 -- Victory Capital Holdings Corporation (OTC BB: VTYC) announced today an update on its wholly owned subsidiary, L&M Resources Inc. L&M has had a better than anticipated initial 60 days in business. The foundation has been established both in the US and Internationally for several long-term sales and marketing business relationships along with initial sales exceeding start-up projections.

In addition to Presser and Associates, L&M has also contracted Fashion Managers Limited and Stanton Kizer to bring their sales and marketing expertise and years of selling relationships to assist in the branding of L&M's new line of cashmere and accessory apparel known as "Soho District." "We see an exciting opportunity to help in the branding and development of the 'Soho District' line of merchandise as well as a tremendous opportunity for sales to our existing base of customers," stated Mr. Stanton Kizer

"Rudewear (www.rudewear.co.uk), whose new relationship with L&M was previously reported, has created an instant 'buzz' with our sales force and our clients. Our initial presentations in the LA market got a great response with orders being written the first day. We will have our samples for the new Spring Collection in another month and expectations are high for a great selling season," stated Martin Barrack, President L&M Resources.

L&M has already sent several exclusive tee shirt lines to its Sales Distribution Network in the UK and Europe with orders already being placed. Additional lines of nationally recognized apparel and accessories are being sent to the UK to be distributed and displayed in Rude's new showroom and offices being opened September 1st in the downtown London fashion district. "We see Rudewear and L&M as two companies with a synergistic opportunity to help each other brand and sell their lines in each other's markets. We feel we have laid the ground work for what will be years of profitable business between the companies," stated Martin Barrack. "In the last two weeks, sales have exceeded $150,000 with more sales forecast this coming week."

In other corporate related matters, Victory Capital continues to work with all of its holdings while supporting the growth of L&M. Additionally the company will be filing an extension for the second quarter as they work to finalize reports for the filing.

About Victory Capital Holdings Corp: Victory Capital Holdings Corporation (VTYC) is a publicly traded company designed to leverage the assets of existing businesses, with proven technology and to infuse those assets with marketing, management and financial support to become the recognized leader in its space (http://www.vtyc.com).

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:
    Victory Capital Holdings Corporation
    Investor Relations
    (916) 965-6439
    Email Contact