City Capital Appoints Phillip B. St. James To Board Of Directors

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City Capital Corporation (OTC: CCCN) today announced that board members had nominated and approved the addition of Phillip B. St. James to the Board of Directors.

City Capital Corporation (OTC: CCCN) today announced that board members had nominated and approved the addition of Phillip B. St. James to serve as a Director. Mr. James has accepted the appointment, and brings significant management and logistics experience to assist City Capital in its management of real estate developments.

Although his early training was in computer science (BS, 1984, DeVry Institute of Technology), Phillip James career path dramatically changed in 1998 when he received his Masters in Business Management (Webster). Mr. James had had great success and won numerous awards nationally and internationally in computer and IT management, but his heart had always been in missions and social programs.

In 1998, he began working first as Community Affairs Representative, later as Vice President Of Domestic Programs, for Heart-To-Heart International in Kansas City, MO. Here he actively identified, recruited and facilitated partnerships with community-minded organizations. He established budgets, identified prospective funding sources and raised financial support. Working with representatives of Tanzania, Africa (Arusha, Africa was Kansas City’s “Sister City”) and mainland China, he created systems to assess needs and procure products, establish logistics, monitor effectiveness and on-going need.

In 2000 he assumed management duties over U.S. Corporate Giving and Philanthropy for sanofi-aventis, Europe’s largest (and the world's third largest) pharmaceutical company. Among other duties he has redefined the company’s involvement in community initiatives. These include educational programs, United Way, Matching Gifts and Volunteer Programs as well as community health initiatives for the underserved and uninsured. Mr. St. James also manages the budget process and tracking of sanofi-aventis Foundation and departmental funds, while establishing a close relationship with accounts payable and finance. He brings an outstanding perception of the management and logistic requirements of complex operations in an international marketplace. Mr. St. James also brings a keen understanding of how to meet the needs of individuals and communities in a cost-effective way, with long-lasting results.

About City Capital

City Capital is a Business Development Company (BDC) authorized by Section 54(a) of the Investment Company Act of 1940 to make loans and equity investments in developing business enterprises. As a BDC, the Company is authorized to raise up to $5 million of capital every 12 months with expedited share registrations on form 1E, which generally are effective within 10 days of filing. The Company proposes to grow by using capital from public stockholders to invest in companies with strong balance sheets, prospects for high profit margins, and solid management teams in place. Stockholders will be provided the liquidity of a publicly traded stock while participating in the benefits of investing in privately owned growth companies. The Company is currently focused on investments in companies with solid positions in rapidly appreciating commodities that can be quickly translated into high-margin revenues.

This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties, including those described in the Company's annual report on Form 10-QSB for the year ended March 31, 2006, that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. The company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, its ability to consummate, and the timing of, acquisitions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate. The Company makes no undertaking to update such forward-looking statements.

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Ephren Taylor
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