SOURCE: Victory Capital Holdings

June 17, 2005 16:17 ET

Victory Capital Holdings Subsidiary Receives Purchase Orders

LOS ANGELES, CA -- (MARKET WIRE) -- June 17, 2005 -- Victory Capital Holdings Corporation (OTC BB: VTYC) announced today that its wholly owned subsidiary, L&M Resources Inc., has opened initial business with the receipt of purchase orders in excess of $100,000. L&M will be delivering jeans and formal wear to these clients.

"The designers and clothing representatives that have been visiting our new showroom have responded more enthusiastically than we could have ever imagined, demand for our services is almost overwhelming. Already some very recognizable names in the garment business have visited our showroom and informed us that we will be sourcing all of the manufacturing for their upcoming lines. Reception for our in-house designed private label goods has been very strong as well and we will be announcing PO's as soon as designs are approved. The competitive pricing and in-house design services we can now offer our contacts have already opened doors that have been non-accessible to us for years," stated Martin Barrack, President of L&M Resources Inc.

Based on initial responses in the marketplace, L&M management has raised its forecast to exceed 4 million dollars in revenue for the next 12 months. L&M currently has projects under agreement to support this forecast and will provide continuous updates as these purchase orders and contracts are released.

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
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