Conversion Solutions Holdings (fka CSHD)

[Goodfill]

(COMTEX) B: Conversion Solutions Holdings Corp Updates Shareholders ( PR N
wswire )
B: Conversion Solutions Holdings Corp Updates Shareholders ( PR Newswire )

KENNESAW, Ga., Aug 18, 2006 /PRNewswire-FirstCall via COMTEX/ --
Conversion Solutions
Holdings Corp (OTC Bulletin Board: CSHD), a Delaware Corporation announces
that during the 10-K filing process the following current events have taken
place.

CSHD would like to announce the signing of a Global Funding Agreement with
the Humanitarian & Scientific World Foundation, LTD a Georgia LTD Foundation.
The Foundation's Co-Operators are Adnan Sakli FD# 8216 and 8217, Craig M.
Cason and Steven Canady.

The funding agreement brings a 450 Million Euro ($579,149,833 USD
converted) denominated Note on Lehman Brothers Holdings PLC with a 6 1/8%
coupon to CSHD's Asset Back Management facility. (The MTN holds an S&P, Fitch,
and Composite A+ rating with a Moody's A1 rating).

The bond is loaded in the systems with the following codes:

Lehman Brothers Holdings PLC 6 1/8 A+

Common Code: 010924251
ISIN: XS0109242510

BB Number: EC2377199

"With the addition of this Asset to the corporation, we are now looking at
a new justifiable reorganization release price of $25.63, up $10.63 from the
original estimated $15.00 per share ($12.81 Book X 2). The exact number will
be disclosed in the SEC filings," stated Rufus Paul Harris, CEO.

About Conversion Solutions Holdings Corp

CSHD is a diversified holdings corporation, which was formed to originate,
fund and source funding for asset-based transactions in the private market.
CSHD's main service will be to acquire, fund and provide insurance to target
companies in the currently underserved $15,000,000 to $100,000,000 asset
finance market. Our funding will enable our businesses to compete more
effectively, improve operations and increase value. CSHD is headquartered in
Kennesaw, Georgia, a suburb of Atlanta. For more information, please visit us
at http://www.cvsu.us.

SOURCE Conversion Solutions Holdings Corp
Rufus Paul Harris Conversion Solutions Holdings Corp, [e-mail],
[phone]
http://www.prnewswire.com
Copyright (C) 2006 PR Newswire. All rights reserved.
*** end of story ***