Consolidated General to Invest in Professional Sports Franchises

Subsidiary Staffco in Discussions With Major Sports Teams

CONSOLIDATED GENERAL INC. announces that it has formed a new subsidiary, Staffco Enterprises LLC. Staffco was formed to explore management and investment opportunities in the Sports Franchise and Entertainment industry.

The Company currently has formed a division to specifically target the needs of Tier 1 and Tier 2 sports verticals and will leverage its knowledge in the sports and entertainment business to provide management, marketing, operations, accounting, finance, media and public relations expertise. The Company also plans to buy numerous sports teams with the ultimate goal of buying a NBA, NFL, and AFL franchise.

According to Pierre Quilliam, CFO, "This new revenue generating center of the company was formed due to a pressing demand in the marketplace for these services. We have already started hiring the right people to spearhead this new division and I am excited about its potential to immediately generate revenue for the company. The North American sports market generates hundreds of millions of dollars in revenue and we are positioned to generate fifty million dollars in revenue by the end of 2005. The following graph reaffirms the attractiveness of our business model and demonstrates the significant revenue opportunities that exist today."

Variable            NFL Average   NBA Average   MLB Average   NHL Average
Value ($mil)            531           248           295           160
Revenue ($mil)          138            92           122            69
Payroll ($mil)           67            53            67            38
Stadium Age              22            10            24            10
Attendance           524016        695621       2264707        687052
Ticket Price ($)         47            42            18            41
TV Households       1878987       2285927       2394880       2399688

Staffco Enterprises will provide its staffing expertise to teams requiring revenue, fan base, sponsorship and corporate sales growth. As electronic media such as the internet becomes more accessible, the fan base of professional sports, both locally and internationally are poised to grow exponentially. Sponsorship and broadcasting rights account for between 65 and 85 percent of most teams' income and are one of the main sources of professional sports revenue. Staffco's management aims to increase overall corporate sales growth by exploring all possible revenue streams.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, delays in testing, and evaluation of products, and other risks detailed from time to time in the Company's filing with the Securities and Exchange Commission.

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