HOUSTON, May 2, 2006 (PRIMEZONE) -- Elite Flight Solutions (Pink Sheets:EFSL) announced the signing of a new contract with TRAC Financial Group (Pink Sheets:TCFG) to manage the operations and expansion of Elite's subsidiary, Aim American Mortgage, Inc. Elite Flight Solutions recently announced plans to change their name to Elite Home Solutions, which is pending the outcome of a shareholder vote.
Bruce Edwards, CEO of Elite, commented, "TRAC Financial is already serving the emerging mortgage markets currently served by Aim, in particular the Hispanic community. We believe their experience and marketing skills will accelerate our current office growth and the new offices we intend to open in the near future."
Jim Shipley, CEO and President of TRAC, added, "This new agreement is a great strategic fit for both companies. It will allow us to use our infrastructure to more rapidly build both Elite and TRAC Financial. We look forward to great progress between both companies and further announcements of expansion of Aim American Mortgage in the future."
About Elite Flight Solutions, Inc. -- Elite Flight Solutions (Pink Sheets:EFSL) recently announced that the Company will be renamed "Elite Home Solutions, Inc." The name change is intended to reflect Elite's new business plan, which will focus on the national expansion of the company into the rapidly growing home improvement market and the financing of home improvements. Elite began the implementation of this plan with the recent purchase of Aim American Mortgage, Inc. in Houston, Texas.
About TRAC Financial Group, Inc. -- TRAC Financial Group, Inc. is a financial services holding company. TRAC Financial Group, Inc. intends to actively pursue acquisition and merger candidates, consisting of mortgage brokers/bankers that are structured and operated to perform satisfactorily in any mortgage climate. The Company intends to acquire entities with production that is comprised of entry-level FHA borrowers, as well as luxury home buyers with individual loans up to $2,000,000 or more. A new website is under construction and will be announced at a future date.
All statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations that are disclosed in this press release. While Elite Flight Solutions, Inc. and TRAC Financial Group, Inc. believe their forecasting assumptions are reasonable, there are factors that are hard to predict and influenced by economic and other conditions that are beyond Elite Flight Solutions, Inc. and TRAC Financial Group, Inc.'s control. Among the other important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in Elite Flight Solutions, Inc. and TRAC Financial Group, Inc.'s filings with the Securities and Exchange Commission.