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PMHJ news....(old symbol PRIM...1 for 100 R/s hit today).....PrimeHoldings.com and Target Communications, LLC Deliver 10 Million Minutes for August; Annualized Revenues Surpasses $1.3 Million
9/8/2004 2:30:00 PM


SALT LAKE CITY, Sep 8, 2004 (BUSINESS WIRE) -- PrimeHoldings.com, Inc. (BULLETIN BOARD: PMHJ.PK) , a diversified holding company with early-mover initiatives in the telecommunications and proprietary restaurant and hospitality industries and Target Communications, LLC, its joint venture partner, today announced sharp increases to both the amount of revenues and minutes billed by Target Communications during the month of August.


Target Communication reported a surge in international traffic with revenues topping $115,000 on over 10.8 million minutes for the month ending August 31, 2004. Annualized revenues handily surpassed $1.3 million with the goal of reaching the $2.0 million threshold by the end of the year.

"After five months of operations, we continue to experience significant month-to-month growth driven by strong global demand for our long-distance carrier services, particularly in Latin America and South America," said Thomas Aliprandi, PrimeHoldings.com's CEO.

"While the Company completes its final corporate restructuring, the underlying business and growth strategy remain sound," added Mr. Aliprandi. "The joint venture is on track to reach breakeven on a cashflow basis within the next 180 days."

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

SOURCE: PrimeHoldings.com, Inc.

PrimeHoldings.com, Inc.
Tom Aliprandi, 801-755-6859
[e-mail]


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