Sky Capital Reorganizes

Sky Capital Holdings and Sky Capital Enterprises Reorganization
NEW YORK--(Business Wire)--
Sky Capital Holdings Ltd. and Sky Capital Enterprises Inc. today
jointly announced that effective immediately Ross H. Mandell had
resigned all executive and director positions with the Sky companies.
The resignation was tendered in connection with the sale of all his
Sky Capital Enterprises Inc. shares, both those owned directly and
indirectly, and one-half his Sky Capital Holdings Ltd. shares
(together with options on all his remaining Sky Capital Holdings
shares) to investors, almost all of whom are shareholders of one or
more of the Sky companies. Sky Capital Holdings and Sky Capital
Enterprises will be retaining new management and the companies expect
to expand their respective boards of directors to include independent
board members drawn from shareholders and highly experienced and
qualified individuals. Sky Capital LLC, a wholly owned subsidiary of
Sky Capital Holdings, will continue to operate as a FINRA licensed
broker dealer with Sterne Agee serving as its clearing firm. Mr.
Mandell will continue to serve as a director of Global Secure Corp.,
and for a term of no longer than a year, as a director of Advanced
Spinal Technologies Inc., both Sky Capital affiliated companies.

Sky Capital Enterprises, Sky Capital Holdings and Sky Capital LLC
are to be renamed. Their focus going forward, aside from strengthened
brokerage activities, will be to engage in investment banking,
sponsoring U.S. firms for listing on the Alternative Investment Market
(AIM) of the London Stock Exchange, and related functions to enhance
the firms' growth and profitability.

Sky Capital
Steven Shea, 212-709-1902
sshea@skycapitalllc.com

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