James Monroe Capital Corp (JMON)

[Mookey]

Has anyone seen this latest PR? I just found it. What exactly does this mean?

Jun 13, 2007 (M2 PRESSWIRE via COMTEX) -- Frank Love, the President of James Monroe Capital, is pleased to announce that he has cancelled his agreement to purchase the building that is home to James Monroe Capital.

The two reason for this are as follows:

1) I believe James Monroe Capital shareholders will get more return on their equity with the oil projects we are involved with at this time. Recently shareholders were given details on the economics of the joint venture with Strat Petroleum.

2) We are getting offers to list on other major exchanges once our shares outstanding have been reduced through the buyback. Therefore, we might have to re-domicile to another country for both tax-purposes and listing requirements.

Mr. Love states, "I will keep shareholders updated if we re-domicile to another country."

About James Monroe Capital Corporation

James Monroe Capital Corporation is a publicly traded holding company (symbol JMCP) that focuses on acquisitions, start-ups and oil ventures around the globe. The company solicits purchase contracts in the oil sector for stable income to build shareholder value. These efforts are "opportunistic and time-sensitive deals" often involving distressed situations where other parties have something very valuable they are about to lose entirely or economically not practical for larger companies. These are the type of acquisitions or buyouts JMCP will soon be announcing to its shareholders. Over the next 3 to 12 months JMCP shareholders will experience a totally remade James Monroe Capital Corporation focused in the Oil sector, Gold sector and Uranium sector.

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

CONTACT:
Harold Engel,
Investor Relations
e-mail: [e-mail]
WWW: http://www.jmcpcorp.com