SOURCE: City Capital Corp.

September 08, 2006 15:08 ET

UPDATE: City Capital Corporation Outsources All Operations & Management to AmoroCorp, Inc.

MENDOTA HEIGHTS, MN -- (MARKET WIRE) -- September 8, 2006 -- City Capital Corporation (OTCBB: CCCN) announced today that it has outsourced the management of the closed end fund to AmoroCorp, Inc. (OTCBB: AORO). City Capital will outsource all backend operations and management to AmoroCorp, allowing City Capital to focus on making investments in profitable enterprises to deliver the highest shareholder return possible. AmoroCorp will be compensated $1.2M annually for the total management of City Capital's operations and management.

"This process will eliminate duplication of employee and management overhead that most organizations bear, while allowing City Capital to maximize the number of opportunities that lay before it," said City Capital CEO, Ephren Taylor. "The expertise and years of experience at AmoroCorp, over 225 years combined, and its current business relationships will align perfectly to further the vision and growth of City Capital."

Taylor is the youngest CEO of any public company in history. His clients have included national corporations and non-profit endowments such as entertainer Snoop Dogg's Snoop Youth Football League.

About City Capital

City Capital Corporation (OTCBB: CCCN) is a Business Development Company (BDC) authorized by Section 54(a) of the Investment Company Act of 1940 to make loans and equity investments in developing business enterprises. City Capital currently manages the day-to-day development process for the Kansas City (Missouri) Historic Jazz District.

About AmoroCorp

AmoroCorp, Inc. (OTCBB: AORO) is a public company dedicated to working closely with government Economic Development Groups across America and internationally, to create workable development and redevelopment programs with local solutions. The company's mission is "Empowering Communities Through Socially-Conscious Development."

This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties, including those described in the Company's annual report on Form 10-KSB for the year ended December 31, 2005, that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, its ability to consummate, and the timing of, acquisitions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate. The Company makes no undertaking to update such forward-looking statements.

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