Corbel Holdings Inc. Is New Name for Former Pinnacle Business Management Real Estate Unit
CLEARWATER, Fla.--May 3, 2001--Pinnacle Business Management Inc. (Pink Sheets:PCBM) and Summit Property Group Inc. today announced that the name of Summit Property Group has been changed to Corbel Holdings Inc.
The name change became necessary when it was learned that the original name created confusion with Summit Properties Inc. , an unrelated entity and registrant. Neither Summit Property Group, Corbel Holdings nor Pinnacle Business Management has any connection with Summit Properties. The name change was effective on April 30, 2001.
A formal announcement of the name change will be sent to shareholders of record along with instructions for how to exchange shares issued in the name of Summit Property for shares issued in the name of Corbel Holdings.
About Pinnacle Business Management
Pinnacle Business Management (Pink Sheets:PCBM) commenced operations in 1996 in Florida. The company operates Fast PayCheck Advance, a firm that offers instrument-for-instrument paycheck advance transactions. Fast PayCheck Advance is licensed to operate in nine states. The company also operates the All Pro Group of Cos., a collection of interrelated businesses in western Pennsylvania that includes several automobile and telecommunications entities.
For more information, call Cynthia Mandel at 954/973-3493.
Safe harbor for forward-looking statements: Except for historical information contained herein, statements in this news release are forward-looking statements that are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from the forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves, and the company's ability to replace and expand its holdings.