SOURCE: U.S. Dry Cleaning Corporation

August 30, 2007 10:45 ET

U.S. Dry Cleaning Begins Trading on the OTCBB Under the Symbol "UDRY," as the Nation's First Publicly Traded Dry Cleaning Company

PALM SPRINGS, CA--(Marketwire - August 30, 2007) - U.S. Dry Cleaning Corporation (OTCBB: UDRY) ("U.S. Dry Cleaning"), a first mover in consolidating the nation's dry cleaning industry, announced today that it has begun trading on the Over-the-Counter Bulletin Board under the symbol UDRY.

U.S. Dry Cleaning is the first dry cleaning retail chain to be publicly traded in the United States. On July 19, 2007, the company completed an initial public offering of $6.1 million. The money will be used to advance U.S. Dry Cleaning's plan to be the industry's first major consolidator creating a premier national chain.

Robert Y. Lee, CEO, Director and co-founder of U.S. Dry Cleaning, said, "We are very proud to announce that our stock is now available to the public. We have a strong business plan to grow rapidly by acquiring profitable dry cleaning businesses that are number one in their markets throughout the United States. Consolidation will create accretive value through economies of scale, operational synergies, best practices and professional management of the highest quality."

About U.S. Dry Cleaning Corporation

U.S. Dry Cleaning Corporation's mission is to create the premier national chain in the dry cleaning industry. Over the last year and a half, U.S. Dry Cleaning has completed acquisitions with combined annual revenues of over $9 million. U.S. Dry Cleaning combines a management team with extensive experience in retail consolidations and premier dry cleaning operations, with a proven operating model.

U.S. Dry Cleaning intends to rapidly acquire profitable, positive cash flow operations at accretive valuations. Each acquisition target is expected to be self-sufficient and senior management is expected to remain in place to ease the assimilation. U.S. Dry Cleaning is focused on acquiring profitable businesses that hold a leading share in their individual markets.

U.S. Dry Cleaning management believes that the current absence of extensive competition to acquire the larger dominant operators will change as the industry consolidates. Management believes that the greatest value achieved in any consolidation occurs during the earliest phases and intends to grow as rapidly as possible to deliver shareholder value.

This release is provided for informational purposes only and should not be construed as a solicitation to invest. U.S. Dry Cleaning Corporation's future operation results are dependent upon many factors, including but not limited to: (i) U.S. Dry Cleaning's ability to obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) U.S. Dry Cleaning's ability to build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond U.S. Dry Cleaning's control; and (iv) other risk factors discussed in U.S. Dry Cleaning's periodic filings with the Securities and Exchange Commission, which are available for review at http://www.sec.gov/ under "Search for Company Filings."

In accordance with a December 5, 2006 agreement, Consulting For Strategic Growth 1, Ltd. ("CFSG1") provides U.S. Dry Cleaning Corporation with consulting, business advisory, investor relations, public relations and corporate development services. CFSG1 receives only restricted stock as compensation from U.S. Dry Cleaning. CFSG1 may also choose to purchase U.S. Dry Cleaning's common stock and thereafter liquidate those securities at any time it deems appropriate to do so. For more information please visit www.cfsg1.com.

Contact Information

  • Company Contact
    Rick Johnston
    Director of Shareholder Communications
    Tel: 760-668-1274
    Email: Email Contact
    Web site: www.usdrycleaning.com

    Investor Relations:
    Stanley Wunderlich
    CEO
    Consulting For Strategic Growth 1
    Tel: 800-625-2236
    Fax: 212-337-8089
    Email: Email Contact
    Web site: www.cfsg1.com

    Media Relations:
    Daniel Stepanek
    Consulting For Strategic Growth 1
    Tel: 212-896-1202
    Fax: 212-697-0910
    Email: Email Contact