Peacock Financial Reports Open Market Purchases of Its Own Stock

12 May 2000

Peacock Financial Reports Open Market Purchases of Its Own Stock

    LOS ANGELES--May 11, 2000--Peacock Financial Corp. (OTCBB:PFCK) today confirmed that it has recently bought 400,000 shares of its common stock in open market transactions.
    The purchases were made in its own account under a previously announced stock repurchase program of the corporation.
    In commenting about the purchases, Steven Peacock, president and chief executive officer of Peacock Financial, stated: "Purchases began at the 70-cent level because we are of the opinion that Peacock common stock is significantly undervalued. Due to market conditions and market volatility of late, our stock price has declined, and the company feels purchasing these shares is an exceptional buy."
    The board of directors has authorized continued repurchasing of shares at these levels based on available resources and has also confirmed that its Form 10Q-SB for the first quarter of 2000 will be filed next week.
    Peacock Financial is an investment holding company, fully reporting with the Securities and Exchange Commission as a BDC (business development corporation) under the Investment Company Act of 1949, as amended.
    Its current holdings include investments in Solutions Media Inc. (SpinRecords.com), Desert Winds Entertainment (NQB:DESW), First Miracle Entertainment (OTCBB:MVEEE), DotCom Ventures LLC (wholly owned subsidiary) and iNetPartners Inc. (iNetMotors.com), as well as in professional soccer franchises.
    Peacock's various real estate activities are conducted through Peacock Development Corp., a wholly owned subsidiary. More information can be found at www.peacockfinancial.com.