The Mint Leasing, Inc. Completes Business Combination With Legacy Communications...

The Mint Leasing, Inc. Completes Business Combination With Legacy
Communications Corporation

HOUSTON, July 22 /PRNewswire-FirstCall/ -- Legacy Communications
Corporation (OTC Bulletin Board: LGCC) today announced that it has completed
the transaction anticipated in a definitive agreement for a business
combination via the acquisition of 100% of the outstanding common stock of The
Mint Leasing, Inc., a Houston-based automobile leasing company that primarily
serves customers in Texas, Alabama, Arkansas, Mississippi, Georgia, Tennessee
and Florida. LGCC's board of directors also announced the approval of a
1-for-20 reverse stock split. LGCC has acquired all the outstanding shares of
The Mint Leasing, Inc. in exchange for 70,650,000 post-reverse-split common
shares of LGCC, and 2,000,000 preferred series B shares.
"This business combination with The Mint Leasing, Inc. represents a
significant milestone for Legacy Communications that is crucial to the future
success of the Company," stated Morgan Skinner, President and Chief Executive
Officer of Legacy Communications Corporation. After giving effect to the
reverse split, and prior to the combination with The Mint Leasing, there were
roughly 200,000 LGCC common shares outstanding. No fractional shares will be
issued, as shareholders will receive cash in lieu of their fractional shares.
"I am excited about our future as a publicly traded company, as this step
will allow us to accelerate the growth of our business," observed Jerry
Parish, Founder and Chief Executive Officer of The Mint Leasing, Inc. While
The Mint Leasing leases automobiles and fleet vehicles throughout the United
States, most of its customers are located in Texas and six other states in the
Southeast. Lease transactions are solicited and administered by the Company's
sales force and staff of 25 employees. The Mint Leasing's customers are
primarily comprised of brand-name automobile dealers that seek to provide
leasing options to their customers, many of whom would otherwise not have the
opportunity to acquire a new or late-model-year vehicle.
About Legacy Communications Corporation
Legacy Communications Corporation is a holding company that has
historically acquired radio station licenses and permits for development,
operation and sale.
The information in this news release includes certain forward-looking
statements that are based upon assumptions that in the future may prove not to
have been accurate and are subject to significant risks and uncertainties,
including statements to the future financial performance of the Company.
Although the Company believes that the expectations reflected in the
forward-looking statements are reasonable, it can give no assurance that such
expectations or any of its forward-looking statements will prove to be
correct. Factors that could cause results to differ include but are not
limited to, successful performance of internal plans, product development and
acceptance, the impact of competitive services and pricing, or general
economic risks and uncertainties. For Additional Information,
Please Contact:
RJ Falkner & Company, Inc., Investor Relations Counsel at (830) 693-4400 or
via email at info@rjfalkner.com
SOURCE Legacy Communications Corporation

Investor Relations Counsel of RJ Falkner & Company, Inc., +1-830-693-4400,
info@rjfalkner.com, for Legacy Communications Corporation