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PMHJ PrimeHoldings.com and Target Communications, LLC Increase Forecast for Annualized Revenues to $3.0 Million by Year-end

October 12, 2004 11:40:00 (ET)


SALT LAKE CITY, Oct 12, 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 one-day record results and raised its annualized revenue outlook.

Target Communications reported revenues of $12,818.11 for Sunday, the 10th of October, 2004, more than double its revenue levels a month ago. Meanwhile, the company also reported a total of 825,588 minutes billed for its telecommunications services for the same period.

"At our present rate of growth, we are likely to reach our goal of $2.0 million in annualized revenues by the end of October," said Thomas Aliprandi, PrimeHoldings.com's CEO. "We are now projecting annualized revenues to top $3.0 million by year-end."

The Target Communication's management team is also eagerly anticipating its first one million-minute day this month, an important milestone that was originally anticipated to occur in early 2005.

"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.
Thomas Aliprandi, 801-755-6859
[e-mail]

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