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City Capital Corporation (CCCN) Ephren Taylor Elected CEO

Taylor Is America's Youngest African American CEO of a Publicly-Owned Company

(OTC BB: CCCN) City Capital Corporation today announced the appointment of Ephren W. Taylor II as the Company's new CEO. In April, the Company acquired the ECC Vine Street Real Estate Acquisitions, LLC ("ECC Jazz") in the historic Jazz District of Kansas City. Mr. Taylor served as CEO and Chairman of ECC Jazz, which was a wholly owned subsidiary of Ephren Capital Corporation.

The appointment makes CEO Ephren Taylor, at 23, one of the youngest CEOs of a publicly traded company in the U.S., as well as the youngest African American CEO of a public company.

Although 23, Mr. Taylor has over a decade of experience building successful companies. Starting at age 12, his first company designed 3-D computer games. He grew his second company, a job search portal for teens and college students called GoFerretGo.com, to a street value of $3.2M (YoungBiz Magazine). He was recognized as Kansas Young Entrepreneur of the Year in 2002 by the Kansas Department of Commerce for his exceptional investment strategies, originally developed to assist churches with their investment and funding needs. He brings over a decade of entrepreneurial experience, and a solid network of team members and resources for the expansion of CCCN. ECC Jazz developed from these concepts, and identifies itself as a socially-conscious development.

"Empowering Communities With Socially-Conscious Economic Development"

"We create true win-win-win developments, and even share profits from the venture and other benefits with the community itself," Taylor said. "Instead of telling a city what we want to build and what kinds of incentives we expect, we ask them to tell us their long-range goals, for revitalization and community-building. Then we partner with them -- utilizing every available incentive to literally create our own market."

The company counts over 225 years of combined expertise in all key areas, almost ten times the age of the founder himself. "And that extensive experience gives us incredibly fast turnaround on projects, while creating extremely good returns on investment for our client-partners." Current projects include the Kansas City Historic Jazz District, a 214-unit condominium, a 400-home subdivision, and over 150 homes in Cleveland's historic 7th Ward.

Mr. Taylor sees many ways CCCN will enhance this legacy. "Cities nationwide approach us to partner with them on local redevelopment initiatives. City Capital provides key elements to allow us to acquire and expedite more projects into additional markets, which is right in line with our current business plan."

City Capital is a Business Development Company (BDC) authorized by Section 54(a) of the Investment Company Act of 1940 to make loans and equity investments in developing business enterprises.

This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties, including those described in the Company's annual report on Form 10-KSB for the year ended December 31, 2005, that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, its ability to consummate, and the timing of, acquisitions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate. The Company makes no undertaking to update such forward-looking statements.

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