Newsroom
Aleritas Capital Amends Agreement with Lender
OVERLAND PARK, KS, June 25, 2008 - Aleritas Capital Corporation (OTCBB: BRCR; BRCRW; BRCRU) today announced that an agreement has been reached with DZ BANK AG Deutsche Zentral-Genossenschaftsbank (DZ Bank) to reduce the lending limit of its facility, extend the maturity date of its facility, resolve facility deficiencies and waive prepayment and non-use penalties.
Aleritas Chairman Robert D. Orr stated, “We value our long time relationship with DZ Bank. However until the credit markets become more settled, Aleritas must not use funding sources, such as DZ Bank, that require the use of significant capital. We truly appreciate DZ Bank’s assistance and cooperation.”
About the Company… Aleritas Capital is a specialty finance company that originates loans to insurance agencies and insurance-related businesses. Aleritas has $90,000,000 in a capital to asset ratio exceeding 30%.
This press release contains forward-looking statements. All forward-looking statements involve risks and uncertainties, and several factors could cause actual results to differ materially from those in the forward-looking statements. The following factors, among others, could cause actual results to differ from those indicated in the forward-looking statements: the uncertainty that the Company will achieve its short-term and long-term profitability and growth goals, uncertainties associated with market acceptance of and demand for the Company's products and services, the impact of competitive products and pricing, the dependence on third-party suppliers and their pricing, its ability to meet product demand, the availability of funding sources, the exposure to market risks, uncertainties associated with the development of technology, changes in the law and in economic, political and regulatory environments, changes in management, the dependence on intellectual property rights, the effectiveness of internal controls, and risks and factors described from time to time in reports and registration statements filed by the Company with the Securities and Exchange Commission. A more complete description of the Company's business is provided in the Company's reports and registration statements, which are available from the Company without charge at www.aleritascapital.com or at www.sec.gov.