hi

Tweet

Millenium Holding Group (OTCBB:MNHG) is a publicly traded financial services and real estate development company which will have a portfolio of operating companies focused on providing financial products/services and developing properties. Their portfolio of operating companies will include real estate development and securities and other financial services companies along with insurance, commercial, and mortgage banking. The focus of Millenium is centered on becoming a new type of financial institution utilizing the Internet and e-commerce. The passage of the Financial Modernization Act (Gramm-Leach-Bliley Act) has radically begun to overhaul the nation's insurance, banking, and securities markets. The Act allows the Company to possess all three disciplines of insurance, banking, and securities. Millenium's management has spent eight years developing a real-time integrated computer system with software and hardware companies working with teams such as IBM to integrate the operations, administration, products, and services of the three disciplines. This system will be the backbone of this new type of financial institution. The system will allow the financial services subsidiaries to conduct business locally, nationally, and internationally. The Company has had a focus on developing real estate, specializing in self-contained communities and other areas. These self-contained developments will lend themselves to the financial products and services the Company will offer. The Company will tend to be opportunistic, but yet cautious, in its determination of the properties and their potential and how they relate to the overall organization's strategic objectives. Millenium has two wholly owned subsidiaries, FYNMOR, the mortgage bank, and FYNRE, the real estate development company. The Company is in the process of acquiring a small mortgage company to enable FYNMOR to utilize a mortgage brokerage facility. Mortgage banking is an area that produces value added benefits to the insurance, banking, securities, and real estate development operations. Millenium will introduce mortgage products and services to outsource financing and in-house financing to its other companies for their customers. In particular, the real estate self-contained developments will enable the mortgage bank to have no significant competition to start with when introducing its products. The emphasis on the Internet and e-commerce in today's business is fast becoming the mainstream marketing and operational facility standards of companies across the country. Financial institutions need to keep up with the competition by reducing overhead and marketing costs, increasing the speed of delivery of products, and have more controllable distribution channels. With this in mind, the Company will have its financial services and products and its operations Internet based. In the financial industry of insurance, Millenium's focus and goal is to be the first true internet insurance company in the world. Their computer system will enable the Company to administrate and sell insurance products and services such as life, annuities, disability, surety bonds, and long-term care insurance. These products will be sold primarily over the internet directly to consumers. The Company has proprietary insurance products and services which will be distributed to the public through this unique system. Many of Millenium's financial systems are multi-lingual and have multi-currency options, which will be exceptionally useful for customers. The international makeup of local communities and the transient nature of the general population make this system a tremendous tool for Millenium's new and unique financial institution. This emphasis on the Internet and e-commerce does not mean this new and unique financial institution will not offer its products and services through traditional "brick and mortar" facilities. What is anticipated in its "brick and mortar" facilities is a more one-on-one consulting-type interaction with the customer. With select branches and proprietary low or "no-load" products which decrease operating and marketing expense significantly, Millenium will have very competitive products and services and have the opportunity to raise the bar in the insurance industry for bottom line profit. The Company intends to establish an FDIC approved banking facility, either a Nationally Chartered bank or an industrial bank to enhance the cross-selling profitability potential between the insurance company, mortgage facilities, and real estate development. Millenium's management met with officials from the Federal Reserve Bank of San Francisco, Comptroller of the Currency Administrator of National Banks, and the FDIC and presented the Company's business model for pre-approval. Management was given the approval to submit its application for the pre-application process. Other areas of financial services will also be explored in the future to enhance the cross-selling capabilities of the Company such as securities and credit cards. Once the portfolio of companies are in full operation and the new operational paradigm has had time to be indoctrinated, Millenium's "new financial institution" will be in a truly unique situation. The insurance/banking/securities or tech or real estate industries could be major suitors to take a position in, or acquire, the company or one of its subsidiaries. At that point in the Company's operating history, an interested party could simply put its logo on the door and have a unique state-of-the-art distribution system for its products and services, hard assets, and revenue streams...overnight. Forward Looking Statements Safe Harbor Statement Under the Private Securities Litigation Act of 1995 --With the exception of historical information, the matters discussed in thispress release are forward-looking statements that involve a number of risks anduncertainties. The actual future results could differ significantlyfrom those statements. Factors that could cause actual results to differmaterially include risks and uncertainties such as the inability to finance thecompany's operations or expansion, inability to hire and retain qualifiedpersonnel, changes in the general economic climate, including rising interestrate and unanticipated events such as terrorist activities. In some cases, youcan identify forward-looking statements by terminology such as "may,""will," "should," "expect," "plan,""anticipate," "believe," "estimate," "predict,""potential" or "continue," the negative of such terms, orother comparable terminology. These statements are only predictions. Althoughwe believe that the expectations reflected in the forward-looking statementsare reasonable, such statements should not be regarded as a representation bythe Company, or any other person, that such forward-looking statements will beachieved. We undertake no duty to update any of the forward-looking statements,whether as a result of new information, future events or otherwise. In light ofthe foregoing, readers are cautioned not to place undue reliance on suchforward-looking statements. For further risk factors see the risk factorsassociated with our Company, review our SEC filings. About Business to Leisure Monthly (BTLmonthly.com) Businessto Leisure Monthly is "For Readers with Ambition" and its sisterpublication BTL Mid-Month Report are online magazines that are each sent outonce per month by email through numerous distribution partners. Thesepublications reach millions of opt-in subscribers. The online magazines focuson Corporate Profiles from companies involved within the stock markets alongwith Business, Lifestyle, and Leisure articles produced by BTL and theircontributing writers. An additional publication, BTL Breaking News Bulletin, issent out to millions of investors numerous times each month and is well knownfor its "Top 5 Reasons to Watch this Stock". BTL also produces SectorReports, BTL Canada, general advertising packages, identity branding, and somuch more. Please feel free to contact BTL at btlmonthly@shaw.ca.