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Elgrande Retains Santa Fe Capital for Investment Banking Services

Elgrande International, Inc. (OTC BB: EGDE) specializing in importing, marketing and distributing European-designed quality products, announced the retention of Santa Fe Capital Group to provide Elgrande with investment banking services including capital raising and project financing.

Michael Holloran, President and CEO, commented, "We are very pleased to be working with Santa Fe Capital Group and its President, David Silver. They have assisted many rapidly emerging companies in providing the necessary banking services to accelerate their growth. Additional capital will leverage the significant progress we have made in the last eighteen months as evidenced by the success of the eight January trade shows that generated an increase of 97% compared to the prior year. We are also now poised to capitalize on existing infrastructure and technology to rollout new product choices with little additional overhead."

David Silver, President of Santa Fe Capital Group and the author of 30 books including "The Entrepreneurial Life," published by John Wiley & Sons, spoke at a recent speech to America's 350 top women entrepreneurs at the White House. Silver spoke about the value of low tech companies such as Elgrande and said, "At Santa Fe Capital, we look for smart entrepreneurs who start companies where there are no barriers to entry, the product is non-duplicable, with high gross margins and where the advertising method is word-of-mouth from satisfied users." Silver recently stated, "That's Elgrande in a nutshell, and we are privileged to be offering its stock to our angel investors. Elgrande is one of those rare instances where a consumer product has the upside potential of a breakthrough medical or Internet technology. Silver has backed a handful of consumer-based success stories such as ActMedia (mini-billboards on supermarket shopping carts) as well as high-tech start-ups such as RealNetworks, Earthlink, and Interland."

Silver continued, "We did extensive research at Neiman Marcus, Marshall Fields, Saks and Nordstrom, sending in young married couples, and single males and females in the important 24 - 35 year old demographic with immense purchasing and word-of-mouth recommender power, and the result was simply this: Elgrande can become a $50 million (revenues) company in two years. That kind of growth is normal for an explosive high-tech company like RIM or Google, but rarely seen in a consumer durable."

About Santa Fe Capital Group

Following two decades of traditional investment banking doing start-up fundings, LBOs, M&A and workouts and turnarounds, Santa Fe, has raised over $1 billion for 350 companies ranging from raw start-ups to $150 million (sales) companies in industries as diverse as Internet software and health insurance. Clients have included ActMedia, Interliant, News Corporation, ALC Communications, MobilePro Corp., Xing Technology, Voex, Inc., iboats, Inc., Forgefinder.com, Inc., Meaning Master Technologies, Inc., Orbid Corp. and Catalog.com among others.

David Silver, President, has done studies of "perfect" business models that are taught in more than 200 business schools throughout the world. Santa Fe Capital Group was formed by Silver as an angel group to fund companies with elegant business models that can grow to $100 million in sales with only a modest injection of capital. For additional information on Santa Fe Capital, please see www.sfcapital.com.

About Elgrande International

Elgrande International () specializes in sourcing, importing, marketing and distributing unique European-designed quality products in the medium to high-end tabletop market. Their products are exclusively produced for the North American home decor, giftware and artware sectors. The Company has a North American sales and distribution infrastructure that currently services approximately 650 customers with over 1,100 retail locations that include independent retailers and national key accounts. Management has structured a national network of 12 major giftware representatives with showrooms in the principal US markets, supported by 128 professional sales representatives. Elgrande was the winner of the 2003 CGTA "Best New Giftware" award (www.cgta.org).

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Safe Harbor Provision

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include "We are also now poised to capitalize on existing infrastructure and technology to rollout new product choices with little additional overhead" and "Elgrande can become a $50 million (revenue) company in two years" are based on the Company's and Santa Fe Capital Group's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. Risk factors include, lack of inventory financing, foreign currency, availability of product and other risk factors as outlined in the Company's SEC filings.

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