Marine Growth Ventures, Inc. Announces Agreement with Commodore Factors Corporation

Marine Growth Ventures, Inc. finance unit and Commodore Factors Corporation close on financing based on marine assets and charter payments.

Cape Canaveral, FL (PRWEB) June 10, 2004 -- Frank Crivello, Chairman, Marine Growth Ventures, Inc. (MGV") announced it closed a transaction with Commodore Factors Corporation involving vessel charter payments. Commodore Factors Corporation is a New York based lending company that provides receivable type financing.

MGV Chairman Frank P. Crivello stated: We are excited to work with Commodore Factors Corporation regarding this financing and look forward to working with them on future financings involving marine assets. Few lenders understand or support this space. Commodore took the time to understand the risk and opportunity."

About Marine Growth Ventures, Inc. (MGV") www.marinegrowthventures.com:

MGVs mission is to find, develop, and place in service operating businesses related to our oceans; our vision is to build successful businesses while respecting and protecting our most important environmental resource - our oceans. MGV is uniquely positioned to find, analyze, and execute on marine related opportunities in transportation, freight, finance, brokerage, real estate, gaming, and entertainment.

Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the Company could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to assumptions relating to the marine market and that there will be no unanticipated material adverse change in MGV's operations or business.

Contact:

New-School Communications, LLC

Blois Olson, 651-221-1999

www.new-school.com

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