NEW YORK, July 5, 2005 (PRIMEZONE) -- DCI USA (OTCBB:DCIU) announced that on June 19, 2005, Direct Capital Investments Ltd., a publicly traded company on the Tel Aviv Stock Exchange and the majority 82% stockholder of DCI USA, issued the following announcement.
Direct Capital Investments Ltd. has signed an agreement to receive a significant investment from Ariel Prashkovsky Group, an Israeli real estate group. The agreement includes a 3 million dollar initial investment and also included the possibility of additional investments of up to 23 million. The agreement signed allows Direct Capital Investments Ltd., the Israel parent of DCI USA, additional financial flexibility and resources to build its investment portfolio. Direct Capital Investments Ltd. portfolio includes direct investments in real estate related projects in Israel along with indirect real estate and investments worldwide through our DCI USA subsidiary.
Micha Vigderhouse, General Manager of Direct Capital Investments Ltd., noted, "We are excited that Mr. Prashkovsky, one of the leading real estate developers in Israel has made an investment in our Company." He went on to state, "I believe that this investment is a vote of confidence in our investment approach and in our portfolio company, DCI USA. I am confident that all our portfolio companies can only benefit through the additional strength and financial backing of our new investment partner."
Mr. Ariel Parshkovsky, commenting on the investment, noted, "We believe Direct Capital Investments is an important strategic investment for the Parshkovsky group. Additionally, we view DCI USA, BDC as an ideal platform to expand our United States investing activities. We are excited at the possibility of investing directly into DCI USA and in participating as a co-investor with DCI USA in their investments."
About us: DCI USA Inc. (OTCBB:DCIU)
Business Development Company (BDC), pursuant to the Investment Company Act of 1940. As a BDC, the Company intends to invest in businesses and intends to provide significant management expertise, corporate finance capabilities and leadership to its portfolio companies.
Business development companies are publicly-traded, closed-end funds that make investments in private companies and thinly-traded public companies through the use of senior debt, mezzanine financing, and equity funding. DCI USA plans to use equity capital provided by public shareholders, financial institutions, and debt capital from various sources to make investments in growing small private and public businesses.
About: Ariel Prashkovsky Group
The Ariel Prashkovsky Group is a leading Israeli developer and contractor with investments properties in Israel, Europe and the U.S. The group was established in 1979, as a family business routed in a tradition of customer responsiveness. The group has attained a competitive edge through its service and quality.
In Israel, Prashkovsky projects dot the landscape of main residential and commercial centers, at locations that are judiciously selected. From shopping malls to residential high rises, from industrial projects to luxury office towers, the Prashkovsky trademark is quality that is visible, measurable and durable. For more information on Prashkovsky visit their website www.bap.co.il.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of the management of DCI USA only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings; economic downturns affecting the operations of the Company, adequate financing to achieve the new strategic plans, and the unavailability of general financing to complete management's overall plans and objectives. DCI USA undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting DCI USA, reference is made to DCI USA's reports filed from time to time with the Securities and Exchange Commission. This press release is available at www.dci-mb.com.