Wyncrest Group Inc. Plans to Provide Limited Coverage to Rebuilding Gulf Seafood Industry Businesses

Wyncrest Group, Inc. (WYCT- news) today announces acquisition of offshore catastrophic insurance company with plans to provide limited coverage to rebuilding gulf seafood industry businesses

A letter of intent has begun the process of acquisition of an offshore Panamanian company, which follows the recent purchase of offshore licensing by Wyncrest Group. This acquisition will increase revenue exponentially for the company and provide a clear path to the Amex in 12 to 16 months

Chicago Illinois (PRWEB) November 4, 2008 -- Wyncrest Group, Inc. (WYCT- news) today announces acquisition of offshore catastrophic insurance company with plans to provide limited coverage to rebuilding gulf seafood industry businesses. Intent on casting a net of hope for hurricane victims in need of insurance coverage for rebuilding lost businesses in the seafood industry following devastation from hurricane Ike, Wyncrest Group is proceeding with its strategy of procuring niche offshore services that will provide insurance with less expense than domestic insurers. "A letter of intent has begun the process of acquisition of an offshore Panamanian company, which follows the recent purchase of offshore licensing by Wyncrest Group. This acquisition will increase revenue exponentially for the company and provide a clear path to the Amex in 12 to 16 months," Keith Lanzara President /CEO

Shrimpers and oystermen lost their boats to the muck. Tourist areas on the coast that should be bustling at the start of convention season are flattened. Ike crashed ashore last weekend near the mouth of Galveston Bay, which produces about 15 million pounds of seafood each year. Shrimpers and oystermen there will practically have to start over. Even those who can salvage their trawlers will have to cope with the carpet of debris Ike dumped on the floor of the Gulf of Mexico.

Seafood wholesalers were hit hard, too. Ike destroyed the docks owned by Prestige Oysters Inc, one of the biggest harvesters in the Gulf, and slid its shrimp houses off their slabs. More than half the oysters sold in the eastern U.S. come from Louisiana and Texas. But Ike killed oyster reefs with waves of shocking saltwater, and officials say Ike's march through Galveston Bay will be catastrophic to an industry that generates more than $100 million annually. Early estimates indicate the industry sustained up to $300 million in economic losses to Hurricanes Gustav and Ike.

In an effort to extend the range of it's Offshore Services Division, the company has engaged in the assessment of insurance coverage to a range of businesses and personal financial entities that have been denied by domestic insurers or who require additional security for Catastrophic Insurance, Aviation Insurance, Captive Insurance Corporations and Extended Warranty Services.

Staying focused on its corporate objective of expansion into lucrative Insurance niche markets, the Wyncrest Group has anchored its new Offshore Services Insurance Division in a lucrative position to grow in these Insurance categories. With the implementation of its Offshore Services Division growth strategy, the Wyncrest Group provides an interface into enormous untapped profits for the company and its investor group serving the Offshore Insurance market.

Wyncrest Group's Offshore Services Division

About The Wyncrest Group
Wyncrest is a growing holding company comprised of subsidiaries within the financial and insurance industry segments. From Life Insurance and Long Term Care to Student and Sports Insurance and Employee Group Benefits, Wyncrest Group's broad financial product and service offerings provide economic protection and growth opportunities for investors.
Wyncrest's growth strategy is to seek businesses that will advance the company's quest to vertically integrate and become a stronger force in its financial communities. Wyncrest will continue to strive towards procuring sales of its various product lines and technical capacity. Wyncrest's major growth and long-term plan is to increase revenue by acquisition.

No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct.

Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology.

The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the Company's products, technical problems with the Company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks.

The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Wyncrest Group, Inc.
Keith Lanzara
President
630-215-5668
www.wyncrestgroupinc.com

Investor Relations
Anthony Amado
888-927-8247

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