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News from after the bell yesterday DGKO
De Greko Inc. Announces Ongoing Corporate Structure; Steps Taken to Migrate to Larger Exchange

GLASTONBURY, CT, May 08, 2006 (MARKET WIRE via COMTEX) -- De Greko Inc. (OTC: DGKO), a holding company that specializes in consolidating revenue-generating companies, today announced that it has initiated steps to retain PCAOB accountants to serve as the companies auditors and file ongoing statements.
The hiring of an auditing firm will allow De Greko to complete audits which is a necessary pre-requisite to becoming a reporting entity, an ultimate goal of De Greko. In addition, the Company has hired Prestige Asia to look into the requirements for trading on the Hong Kong Stock Exchange, one of the requirements of which may be an audit.

"A corporate goal has been to eventually become a reporting entity and trade on the over the counter bulletin board," stated Fotis Georgiadis, CEO of De Greko. "The hiring of qualified accountants will not only allow us to achieve our goals but will also lead to more credibility with the investment community."

For all future De Greko investor relations needs, investors are asked to visit the De Greko IR Hub at http://www.AGORACOM.com/IR/DeGreko where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to [e-mail] where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

About De Greko Inc: http://www.DeGreko.com

De Greko Inc. (OTC: DGKO) is the parent company of De Greko Foods, De Greko Communications and De Greko Entertainment. Founded in 1998 as De Greko, LLC, the Company plans to serve as a commercial hub for a variety of revenue-generating companies. De Greko's business philosophy combines the American entrepreneurial sprit with old-world charm and cutting-edge commercial innovation.

Note: All statements, other than statements of fact, included in this release, may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that such matters necessarily involve significant risks and uncertainties that could cause actual operating results to differ materially from such statements, including, without limitation: (i) competition, (ii) fluctuations demand and supply of our target markets, including Internet based telephone operations (iii) risks associated with new business ventures. Investors are advised to seek professional advice and conduct a complete due diligence regarding this, or any other company being considered for investment purposes. Investing in securities, particularly in issues priced at less than $1 per share, involves substantial risk and may result in a partial or complete loss of investment capital. Press releases issued by the company should not be interpreted as an offer to sell or a solicitation to buy company stock.