SOURCE: WMD Holdings Group Inc.

April 10, 2006 17:40 ET

WMD Holdings Group, Inc. Announces Election of Directors, Appointment of Principal Officers

RIVERSIDE, CA -- (MARKET WIRE) -- April 10, 2006 -- WMD Holdings Group Inc. (OTC: WMDH) (Worldwide Media Development Holdings Group, Inc.) announced today a change in directors and principal officers.

The Board of Directors of Worldwide Media and Development Holdings Inc. ("WMDH") approved the following executive appointments and resignations effective as of April 10, 2006 pursuant to a resolution dated April 7, 2006.

As per resolution adopted in September 2005, the Board of Directors has accepted the resignation of Mr. Michael Donlan as Chief Executive Officer and Mr. Warren Schiebe as Chief Financial Officer effective immediately.

The Board of Directors has appointed Alvin C. Rice as Chairman of the Board, Mr. Rice, serves as CEO and President of BanX, Inc., a WMDH strategic partner. Mr. Rice's career in banking investment banking and commercial business management has spanned over 40 years. He has held previous positions as Vice Chairman of Merchant Group International, Inc. and Vice Chairman of The Bank of America in charge of the Bank's worldwide commercial banking activities. Mr. Rice is a Cum Laude and Phi Beta Kappa graduate of Stanford University where he received a B.A. in Economics. He attended the Graduate School of Banking at the University of Wisconsin and the Advanced Management Program at Harvard University.

The Board of Directors has unanimously appointed Mr. Lawson Pillay, as Director and Chief Executive Officer. Mr. Pillay, age 51, currently serves as CEO of Genfin, LLC the majority shareholder of WMDH. He is the co founder of several companies, amongst them, Fuzion Financial Group, Altura International, Genfin and Gentech Group. He serves as Director to BanX, Inc.

The Board of Directors has appointed Mr. Harold Balkowski, as Director, Chief Financial Officer, and Chief Operating Officer, reporting to Mr. Pillay. Mr. Balkowski, age 35, has served as Executive Vice President Operations and CFO of Genfin LLC, Gentech Group and Altura International.

The Board of Directors has appointed Mr. Ricardo Sanchez, as member of the WMDH Advisory Council, as per the resolution adopted on April 7, 2006. Mr. Sanchez currently serves as director for Altura International and as CEO and President of El Grande Steel and Orbit Metrocom, a telecommunications company.

The Board of Directors has appointed Mr. Joe Waechter, as member of the WMDH Advisory Council, as per the resolution adopted on April 7, 2006. Mr. Waechter currently serves as director for BanX, Inc. Prior to his association with BanX, Mr. Waechter was also a director of Merchants Group International in San Francisco beginning in 1998. From 1972 through 1987, Mr. Waechter held several management positions with DHL worldwide Express, including President and Chief Executive Officer from 1983-1987. Following his tenure at DHL, Mr. Waechter was Chairman and CEO of United Micronesia Development Association, Inc., managing its portfolio of operating companies in tourism, telecommunications and airline industries. He was a director of Continental Micronesia Inc., and Chairman and CEO of Danao International Holdings, a developer of golf, hotel and resort projects in Vietnam.

Joe Waechter currently serves on the boards of: Danao International Holdings, Onflow Corporation, Varsity Logistics, California Linear Devices, Real Media and The Larry L. Hillbloom Foundation. He is also the Managing Partner of Sunra Capital Holdings, Ltd., a Bermuda based investment firm. Mr. Waechter received a BA degree from San Francisco State University.

The Board of Directors has appointed Dr. Hanh Tran, as a member of the WMDH Advisory Council. Dr. Tran holds a MD degree from Saigon Medical School and received residency training at University of California at Irvine. He has been involved in international business for several years.

There is no family relationship between any of our executive officers or directors and there are no arrangements or understandings between any of our executive officers or directors and any other person pursuant to which any of them was elected an officer or director, other than arrangements or understandings with our directors or officers acting solely in their capacities as such. Our executive officers serve at the pleasure of our Board of Directors.

Contact Information