Conversion Solutions Holdings (fka CSHD)

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Reposting of NEWS


Conversion Solutions Holdings Corp Updates Shareholders
PR Newswire - August 18, 2006 01:15

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.



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