SEBASTIAN, Fla.-(Business Wire)-August 8, 2007 - Sebastian River Holding's Inc. (Pink Sheets: SBRV), Today announced that news media was in Iraq on August 2nd 2007 to witness history, non-Iraqi's able to invest in the Iraq stock market.
"All share holders can view this remarkable CNN special on our new website: _www.SBRVINFO.com_ (http://www.sbrvinfo.com/)", stated, Daniel Duffy president and CEO of Sebastian River Holding's Inc. "The Company believes that there will be a revalue of the Iraqi Dinar in the near future."
With all the positive financial news from the Iraq government and the rate of the dinar rising from $1USD= 1450 Dinar to a recent high of $1USD = 1238 Dinar, the company feels that the Iraq government must revalue their currency to give all Iraq citizens purchasing power and a new way of living. The company currently holds 135,000,000 dinar and every $1 USD upward movement in the price of the Iraq dinar gives the company a profit of 134,900,000USD or roughly an EPS of $2.73.
It was stated by the minister of finance that it is the countries goal to see the Iraq Dinar at its original value of 1USD = .312 dinar or $3.20USD. With the United States help and all the laws that have been passed, the financial situation in Iraq has dramatically improved over the last 12 months. The country of Iraq has put itself as one of the only few countries to be nearly debt free, have the third proven oil reserves in the world and to be first in natural gas reserves. With all this and still holding a large amount of gold and 28 billion USD in the United Stated Federal Reserve, the Company feels that Iraq will accomplish their goal.
Sebastian River Holding's Inc. is a holding company of profitable private companies, with a foreign currency division and two pending acquisitions with Pelican Capital Mortgage Lending Inc and TCI Electronics, Inc. The foreign currency division currently holds 1,000,000,000 Vietnamese Dong and 135,000,000 Iraq Dinar.
This Press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. The forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.