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Legend Investment Signs Letter of Intent With Ludlow Energy

Forms Partnership for Potential Oil and Gas Investments

Legend Investment Corporation (OTC: LVCP) announces a letter of intent to acquire Ludlow Energy for the purpose of creating an subsidiary to fund Oil and Natural Gas projects within the United States.

"The acquisition of Ludlow Energy would allow our shareholders to potentially take part in investing in a diverse portfolio of Oil and Natural Gas projects. Headquartered in Manhattan, Ludlow Energy will use its location in the financial community to tap investors that are currently interested in Oil and Gas investments. With energy prices and the geopolitical situations being what they are, we feel the acquisition and focus on these type of companies to be a wise use of resources at this time," said Peter Klamka, the President of Legend Investment.

Tom Bustamante, the President of Ludlow Energy, commented, "Our partnership with Legend Investment to explore potential Oil and Natural Gas investments is a very exciting step for our Company. Our goal is to build a syndicate of institutional and individual investors interested in partaking in a fully reporting business development company. With Legend Investment's assistance, we look forward to building and extensive network to bridge the gap between the capital needs of Oil and Gas projects, and the financial community interested in this investment sector."Legend Investment's letter of intent with Ludlow Energy does not represent a binding obligation of either party, and Legend Investment's acquisition of Ludlow Energy is subject to negotiation and signing of definitive documentation. Legend Investment can give no assurances that the acquisition will be consummated.

About Ludlow Energy

Headquartered in Manhattan, Ludlow Energy is engaged in assisting Oil, Natural Gas, and alternative Energy companies if financing, production, and exploration services.

Legend Investment Corporation is a business development company based in the Detroit area.

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "soon," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties including the ability of the company to enter into a definitive agreement for the acquisition, the ability of the company to raise sufficient funds to meet its obligations including this and other acquisitions, and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Reference is made to the Company's filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.

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