[parisc-linux-cvs] Advisor to Pres. Reagan Joins Capital City Energy (CETG.OB)

[investorrelations at ibeammail.com]

Capital City Energy Group Appoints James E. Bishop to Its Board of Directors

Accomplished Executive and former advisor to President Ronald Reagan's transition team at the Department of Commerce

Capital City Energy Group (OTC Bulletin Board: CETG), a diversified oil and natural gas energy company, announced today that it has appointed James E. Bishop to its Board of Directors. Mr. Bishop increases the number of the Company's independent Directors, replacing John F. Harsh, who will remain a Senior Vice President with the Company. Mr. Bishop is an experienced and accomplished executive, the former CEO of two private energy services companies, and has extensive investment banking and investment experience in the field.

Currently, he is a Managing Director and Co-founder of WhiteStar Advisors, LLC which provide discretionary investment management for pension funds with a focus on energy, real estate and infrastructure investments throughout the United States, Bermuda, and the Caribbean. From 1994 to 2000, he was President of Janus Industries: 1994-2000, the successor in bankruptcy to United States Lines, Inc., which at the time of its bankruptcy in 1986, was one of the world's largest ocean shipping companies. He served as the President and CEO of two of its California- based oil and gas services companies, subsequently taking Janus Industries public and increasing its value more than 1,500%.

"I am pleased to welcome Jim to our Board of Directors," said Timothy W. Crawford, Capital City Energy's Chief Executive Officer. "Jim's diverse expertise as an operator, investor and banker in the energy field should prove invaluable as we expand our business in the services and exploration areas."

He also has approximately 15 years of experience as an investment banker working in New York, London and Sydney, and has completed successful investments in a Colorado plant to process waste seed potatoes into ethanol, and coal bed methane wells in the 23,000 square mile Black Warrior Basin of Alabama and Mississippi.

"I am excited by the prospects of Capital City Energy and its unique business model," added Mr. Bishop. "The ability to build a vertically integrated energy company will allow the Company to benefit from many of the secular trends that are driving energy prices to record levels."

Mr. Bishop received a Bachelor's Degree in Finance from Georgia State University, and a Juris Doctorate from Concord Law School.

About Capital City Energy Group, Inc.

Based in Columbus, Ohio, Capital City is a diversified oil and natural gas company with three separate divisions. Capital City is evolving from being an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs to become one of the few vertically integrated independent oil & natural gas companies. Their strategy is to continue to grow a portfolio of core areas which provide growth opportunities through grass-roots drilling, operating, service companies, acquisitions and fund management.

"Investing in America's Energy Future"

Visit Capital City Energy Group at www.capcityenergy.com.

Safe Harbor Statement

Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of our officers and directors during presentations about our energy funds, along with Capital City Energy Group's filings with the Securities and Exchange Commission, including the Company's registration statements, quarterly reports on Form 10-Q and annual report on Form 10-KSB, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects," "anticipates," "intends," "plans," "could," "might," "believes," "seeks," "estimates" or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by the Company's management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties and assumptions about Capital City Energy Group, its technology, economic and market factors and the industries in which the Company does business, among other things. These statements are not guarantees of future performance and Capital City Energy Group, Inc. undertakes no specific obligation or intention to update these statements after the date of this release

CEOcast, Inc. for Capital City Energy Group, Inc.
Daniel Schustack, 212-732-4300 

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