Selected Works of International Artist Donray Purchased by New York Financial Services Company, Prestige Financial Center

Mon Apr 27, 2009 11:00am EDT

* Reuters is not responsible for the content in this press release.

DALLAS--(Business Wire)--
Selected acrylic paintings by American Expressionist Donray have been acquired
by Manhattan-based Prestige Financial Center, which provides high quality
financial services to institutional, individuals and corporations. Included in
the purchase were three of the artist`s noted paintings, including the color
emblazoned self-portrait, CrazyDuke. This represents the second time in as many
months that a corporation has purchased major works from the artist. Prestige
Financial Center plans to display the Donray works in its Manhattan
headquarters. 

In late February 2009, Allegiance Capital Corporation, a full-service investment
banking firm servicing middle market companies worldwide, announced its purchase
of a large number of works from Donray. While terms of the Allegiance sale were
undisclosed, it included one of the artist's smaller acrylic works, Blue Laced
Red Wyandotte, part of his recently completed Roosters collection. The painting
is valued at $15,000. 

During the last two decades, corporate purchases have comprised a quarter of the
art market in New York City and half the market for art outside of New York
City. "While we think this is a good investment for our company, many of our
high-net worth clients who visit our office understand and appreciate fine art,"
said Lawrence Foont, Senior Options Principal of Prestige Financial Center. "For
the most part, we did this for them as a way to show the commonality between us
and demonstrate how much we appreciate their business." 

Donray is a painter with an increasingly strong reputation for his dynamic and
compelling post-modern works. "We are very excited about this acquisition and
the opportunity to offer it for public enjoyment. The depth of Donray`s work is
quite unique," said Foont. "You really have to define each piece, to do your own
personal search for what it means. Donray doesn`t spell it out for you - he
wants you to be inspired." 

Winter Kill, (a snow leopard hunting for survival in a harsh climate) one of the
paintings purchased by Friedman Schnaier, reveals what brokers must do for their
clients and the bond shared between brokers and clients, according to Foont.
"This particular painting will be placed in our company`s lobby area where
clients first arrive. It offers us a truly unusual way to break the ice," said
Foont. Winter Kill was specifically mentioned in an essay by famed critic,
Donald Kuspit, where he remarked that the painting made an immediate impact on
his psyche and that it remained vividly in his memory. 

"Yet our favorite is Donray`s self-portrait, Crazy Duke," said Foont. "The use
of red is magnificent, exuding power and superiority. The artist`s mind appears
to be on fire. There`s not a better message to send to our clients." 

In many of his acrylic paintings, Donray continues to use an innovative
technique that he pioneered involving an acrylic-on-acrylic collage created by
the artist. The collage material is the same as what is being used to paint
with, and developed through a tedious process of mixing, pouring, manipulation
and cutting. The result is a dramatic display of intermingling color, texture,
reflecting light and exciting energy. 

About the Artist

Often called an American Expressionist, Donray`s works have been lauded on both
sides of the Atlantic.Powerful, energetic, pulsating and sometimes dreamlike,
his use of color, movement and imagery is emotional, visceral and
thought-provoking.Many of his works use human and animal imagery to create
moments of breathtaking lightness and transcendency and provide other moments of
profound gravity and intensity.In particular, his unique technique involving
acrylic on acrylic collage provides many of his canvas works a depth not
commonly found in the art world. You may learn more about Donray at Wikipedia,
or via a Web site set up by his supporters at http://www.donrayartist.com/.





Allegiance Capital Corporation
Dar Hackbarth, 214-217-7737
Vice President of Marketing
dhackbarth@allcapcorp.com
or
Michael A. Burns & Associates, PR
Susan Lomelino, 214-521-8596
Senior VP/Director
slomelino@mbapr.com



Copyright Business Wire 2009

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