DENVER, Nov. 24, 2006 (PRIMEZONE) -- Chelsea Management Group Inc. (Other OTC:CLMP) and its wholly owned subsidiary Chelsea Financial Services (Mexico) has established a fully operational financial services office on the West Coast of Mexico. Chelsea Financial (Mexico) will provide a wide range of financial services such as mortgage lending, bridge financing, construction financing and equity lending to property buyers in the rapidly developing west coast Mexico and surrounding area.
The project has been in the works for the past nine months while a suitable office location and personnel staff were being put in place. We are pleased to announce that the office is now completed and will be opened in the first week of January 2007.
Chelsea Financial Services (Mexico) working together with major U.S. lenders will be offering various financing options for purchasers of vacation properties in Mexico. Using state of the art technology along with our lending alliances, we will in most cases be able to approve a mortgage or loan application within 20 minutes.
Exponential growth in vacation properties is occurring in this coastal area. Previously those wishing to purchase property, in most cases, had to do so with a cash offer. Only recently has the lending market opened in Mexico and we are pleased to be in a position to play a part. Anyone who is considering purchasing vacation properties in Mexico is invited to contact us for a financing quote. Our staff will be available at the beginning of the New Year to assist you in anyway we can and provide you with up to date information concerning property ownership in Mexico.
About Chelsea Management Group Inc.
Chelsea Management Group is a start-up and early-stage venture capital firm focused on the health and life sciences industry. Formed in 2001, Chelsea searches for the winners of tomorrow -- entrepreneurs whose ideas and talents qualify them to pursue large market opportunities successfully. We seek opportunities across a broad spectrum, including biotechnology and pharmaceuticals, medical devices, services and healthcare/life sciences information technology. On a selective basis, we also consider later-stage health and life sciences investments where we can uniquely apply Chelsea's industry and capital markets experience.
Our website is: www.chelseamg.com
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.