iCapital to Represent San Juan Pueblo Indian Tribe

iCapital will provide investment banking services and work with the Tsay Corporation to form a New Market Tax Credits "Community Development Entity" for the San Juan Pueblo Indian Tribe.

(PRWEB) July 14, 2005 -- iCapital will work with the Tsay Corporation on the formation of a limited liability company called the "San Juan Pueblo Community Development LLC", will advise as to the requirements of the Community Development Financial Institutions Fund, will make application to the CDFI Fund for certification as a "qualified" Community Development Entity, and will make application for participation in the fourth round allocation of New Market Tax Credits.

The NMTC Program permits taxpayers to receive a credit against Federal Income Taxes for making qualified equity investments in designated CDEs. Substantially all of the qualified Equity Investments must in turn be used by the CDE to provide investments in Low Income Communities (LIC). The credit provided to the Investor totals 39% of the cost of the investment and is claimed over a seven-year credit allowance period.

NMTC will be allocated annually by the Fund to CDEs under a competitive application process. These CDEs will then sell the credits to taxable Investors in exchange for stock of a capital interest in the CDEs. Throughout the life of the NMTC Program, the Fund is authorized to allocate to CDEs the authority to issue to the Investors up to the aggregate amount of $15 billion in equity as to which NMTC can be claimed.

Randall Letcavage, Managing Director of iCapital, states, "The San Juan Pueblo Tribe is currently working with Tsay Corporation and iCapital to develop strategies to benefit low income communities in their area by utilizing the CDE to help finance business and create employment."

About iCapital Finance, Inc.:
iCapital is a leading investment bank specializing in the Micro and Small Cap Public Companies and Middle Market Private Companies and Municipal Entities offering a wide range of financial advisory services, including: M&A, equity and debt financing, strategic advice, and financial consulting. iCapital's industry experience and financial resources prove to assist high growth companies in meeting their corporate objectives. Managing Directors of iCapital Randall Letcavage and Rosemary Nguyen will represent this client as they have extensive experience in forming and financing CDEs.

The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company and other risks detailed in our filings with the Securities and Exchange Commission, including the Risk Factors contained in our final prospectus relating to a public offering filed pursuant to Rule 424(b) under the Securities Act of 1933, available at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.

###