Ability Holdings Corporation Announces New President and Other Officers/Directors.

DALLAS -- Ability Holdings Corp. (OTC:AYHC), announces that Joel Frantz will be named to the position of President and as a Director of the company. Current President David Rutkoske will resign as President along with all executive positions held and as a Director of the company as of today.

Mr. Frantz stated, "I am impressed with the direction and vision of Ability Holdings as a public company and my goal is to continue to enhance shareholder value. I look forward to fulfilling the position of President and taking Ability Holdings to the next level of achievement by augmenting the current management team. I anticipate achieving the Ability Holdings vision more expeditiously and efficiently starting with the acquisition of a Nationally Chartered Bank for our subsidiary BankAbility.

David Rutkoske added, "Having a proven leader such as Joel Frantz spearheading the management team assures Ability Holdings a dynamic momentum of success by utilizing his vast knowledge of mechanics within the business sectors. I personally welcome Joel to the company and look forward to working together to fulfill the company goals and expectations. This is an excellent opportunity for the company to expand and grow its management team as we embark on the upcoming future."

Ability Holdings Profile of its new President, Joel Frantz:

Mr. Frantz has 16 years of experience in both corporate finance and investment finance with Texas Instruments, Baxter Healthcare, Coca Cola Enterprises and Prudential. During his 7 years with Coca Cola, he directed both the Corporate Finance and Mergers and Acquisitions departments for the south central region of the United States managing the financial aspects for multiple sales and manufacturing locations scattered across several states. Mr. Frantz has a dynamic background in financial management and business development building productive programs by identifying opportunities through gathering and analyzing market intelligence. Mr. Frantz received his formal education from The University of Texas at Dallas and Texas A&M University.

In addition to Mr. Frantz, Ability Holdings also has announced Heidi Cosgrove as the company's Vice President, Secretary and as a Director. Mrs. Cosgrove's banking and business experience stretches over two decades ranging from retail banking to investments. Ability Holdings also named Cris Harris as the company's Treasurer. Mrs. Harris received her bachelor's degree in Finance from SMU in 1984 and has several years experience in the brokerage industry. In addition, Ability Holdings named Mark O'Bryan as a Director. Mr. O'Bryan recently was the President of the EDS Credit Union and has over 20 years of experience in the banking industry. Mr. O'Bryan was just recently named as the President of Ability Holdings banking subsidiary, BankAbility.

About Ability Holdings Corporation:

Ability Holding Corp. is establishing the brand 'BankAbility' for its new paperless Internet banking institution. The company was formed with the objective of providing convenient, cost effective and secure banking services using the Internet as its primary delivery channel. The company plans to take advantage of the continuing growth in the Internet marketplace, the rapid acceptance of technology and e-commerce transactions by the general public. BankAbility's business model eliminates paper transactions and thus significantly reduces the costs associated with check processing and related transactions associated with the traditional banking institutions.

Forward-Looking Statements:

Certain statements in this news release may contain "forward-looking" information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.