VERO BEACH, Fla., April 30, 2004 (PRIMEZONE) -- Calton, Inc. (the "Company") (OTCBB:CTON) announced today that its Board of Directors has elected Laura A. Camisa as Chief Financial Officer and Treasurer of the Company, effective April 27, 2004. Ms. Camisa will be responsible for the day-to-day financial operations of the Company and its subsidiaries. She has been affiliated with the Company since February 2000, as Senior Vice President of Strategic Planning of Calton, Inc. and Executive Vice President of eCalton.com, Inc.
The Company announced that Thomas C. Corley, who served as Chief Financial Officer prior to the election of Ms. Camisa, would remain as Senior Vice President of the Company's wholly-owned subsidiary, PrivilegeONE Networks, LLC.
The Company held its Annual Meeting of Shareholders on April 27, 2004. At the meeting, shareholders re-elected Frank Cavell Smith, Jr. to an additional four-year term as Director. In addition, shareholders approved an amendment to the Company's Amended and Restated Certificate of Incorporation which increases the number of authorized shares of the Company's Common Stock from 10,740,000 to 25,000,000 shares.
Certain information included in this press release and Company filings (collectively, "SEC filings") under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (as well as information communicated orally or in writing between the dates of such SEC filings) contains or may contain forward looking information that is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from expected results. Among these risks, trends and uncertainties are matters related to the continued operating losses and their effects on liquidity, the Company's ability to raise capital, commercial acceptance of the Company's co-branded customer loyalty credit card program, national and local economic conditions, including conditions in the residential homebuilding industry, conditions and trends in the homebuilding, Internet and technology industries in general, changes in interest rates, the Company's ability to acquire property for development, the effect of governmental regulation on the Company and the risks described under the caption "Certain Risks" in the Company's Annual Report on Form 10-KSB for the fiscal year ended November 30, 2003.