Replies to post #12452 on CASH COW

[WANG]

NNNC - news

GIG HARBOR, Wash., March 8, 2005 (PRIMEZONE) -- Nannaco, Inc. (OTCBB:NNNC),
which announced on March 2nd its intention to acquire Global Defense Corporation
("GDC"), announced today that GDC has informed Nannaco that GDC has received a
$10.6 million funding commitment from Cornell Capital.

The financing commitment includes a Standby Equity Distribution Agreement
("SEDA" or "Equity Line"). The Equity Line provides that, subject to the
securities of GDC being publicly traded, Cornell Capital will buy up to
$10,000,000 of the publicly traded securities of GDC in private transactions at
a negotiated discount to market price. The SEDA will provide the Company with
tremendous financial flexibility as it continues to grow.

Paul Silverman, President and CEO of GDC said, "We are greatly encouraged by the
support of our plan of operations that Cornell's confidence in us and in our
business plans demonstrates. The Cornell financing will play a key role in our
overall financing plan, serving as both a credit enhancement for debt securities
and providing a degree of risk mitigation for new private equity investors. This
financing commitment shows further that the capital markets support our business
model of acquiring critical technologies in the homeland security market."

Steve Careaga, CEO of Nannaco, said "We have repeatedly stated in our plans and
in our public disclosures that access to capital is a significant contingency to
the future success of Nannaco. Our intended merger candidate has clearly
demonstrated that they have the ability to remove that contingency."

In a prior press release and in filings with the SEC, the Company disclosed that
it has entered into a non-binding letter of intent to merge GDC with and into a
subsidiary of Nannaco created specifically for that purpose. The outline of the
proposed merger transaction set forth in this press release presents only
certain material provisions of the non-binding letter of intent between the
parties and is, of course, subject to the terms of the definitive merger
agreement which will be executed by the Company and GDC.

More information about Nannaco, Inc. can be found at www.sec.gov and on Global
Defense Corp. on its website at www.globaldefensecorp.com. This press release
may contain "forward-looking statements." In some cases, you can identify
forward-looking statements by terminology such as "may," "will," "should,"
"could," "expects," "plans," "intends," "anticipates," "believes," "estimates,"
"predicts," "potential" or "continue" or the negative of such terms and other
comparable terminology. These forward-looking statements include, without
limitation, statements about our market opportunity, our strategies,
competition, expected activities and expenditures as we pursue our business
plan, and the adequacy of our available cash resources. Although we believe that
the expectations reflected in any forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements. Actual results may differ materially from the predictions
discussed in these forward-looking statements. Changes in the circumstances upon
which we base our predictions and/or forward-looking statements could materially
affect our actual results. Additional factors that could materially affect these
forward-looking statements and/or predictions include, among other things: (1)
our limited operating history; (2) our ability to pay down existing debt; (3)
our ability to retain the professional advisors necessary to guide us through
our corporate restructuring; (4) the risks inherent in the investigation,
involvement and acquisition of a new business opportunity; (5) unforeseen costs
and expenses; (6) potential litigation with our shareholders and/or former or
current investors; (7) the Company's ability to comply with federal, state and
local government regulations; and (8) other factors over which we have little or
no control.

CONTACT: Nannaco, Inc.
Steve Careaga
[phone]
4916 Point Fosdick Drive, Suite 102
Gig Harbor, WA 98335

Global Defense Corporation
www.globaldefensecorp.com
[phone]