CALI Holdings, Inc.'s Gulf Coast to Joint Venture with Nashville Management Agency.

ORLANDO, Fla. -- CALI Holdings, Inc. ("Company" or "CALI") (OTCBB:CALI), announces that its portfolio company, Gulf Coast Records LLC, is entering into a joint venture with Brick Agency LLC., Nashville, an artist management company.

Brick Agency is a standalone artist management company that will sign Gulf Coast artist Glenn Cummings as well as other established artists to management contracts.

The CEO of CALI Holdings Inc., James E. Jenkins, stated, "Gulf Coast previously retained Bryan Switzer to assist in the growth of Gulf Coast and develop Glenn's career. This venture will bring a much needed facet to the direction the label has chosen to pursue. Brick Agency will also be signing other established artists, some of whom could potentially sign with the label expanding its interest. We look forward to working closely with Bryan in the development of his company."

About Brick Agency and Bryan Switzer

Brick Agency was recently formed by Bryan Switzer. From grassroots record promotion to serving as Vice President and General Manager of a major record label, Mr. Switzer's career provides him with a unique grasp of virtually all aspects of the music industry.

During his ten-year tenure at Atlantic Records in Nashville, revenues for the country division jumped an astounding $9M over a two-year period. As Atlantic/Nashville's Vice President/General Manager, Mr. Switzer was responsible for all operations, including finance, sales, and product development, personnel and record promotion. His involvement in individual album projects often began at the A&R level and continued through album art, trade ads, retail merchandising, video production and Radio Promotion. Mr. Switzer joined the Time Warner Company in 1990 when the country division of Atlantic Records was launched. Beginning his label career as Regional Manager of Promotions, Mr. Switzer was elevated to Director of National Promotions a year later and was named Vice President of National Promotions in 1992. During his tenure as Vice President of National Promotions, Atlantic established the careers of many artists including John Michael Montgomery, Tracy Lawrence, Confederate Railroad and Neal McCoy. Mr. Switzer's department set the industry's record for the most-added debut record by a new artist and went on to score 17 chart-toping records for Tracy Lawrence.

As Vice President and General Manager, Mr. Switzer introduced innovative plans and strategies to establish artists by creating a system of teams to develop marketing plans for each project. With Atlantic Nashville achieving an 11% market share, Mr. Switzer's marketing teams implemented plans that developed four platinum artists and sales of almost 25 million records.

In 1999, after a two-year reprieve from the records industry, Mr. Switzer was recruited by Tim DuBois. Mr. DuBois, the former Arista Nashville President, was introducing a new label with partner Tony Brown, former president of MCA Nashville. Mr. Switzer was asked to assemble and head the promotion department for Universal South Label Group, a joint venture with Universal Music. As Senior Vice President National Promotion and Artist Development, Mr. Switzer was responsible for developing and implementing a marketing plan, which resulted in the labels debut artist, Joe Nichols, scoring back-to-back #1 records out-of-the-box and propelling Nichols to stardom. Mr. Switzer also spearheaded the efforts, which would gain Pat Green, a successful Texas performer, his first national Top 5 single and Platinum album.

With a degree in Business Management from Ohio State University, Mr. Switzer founded and operated his own independent record promotion company in 1988. He is a former member of the Country Radio Broadcasters' Board of Directors, an alumnus of Leadership Nashville and Leadership Music, and a member of the Country Music Association, the Academy of Country Music and the National Academy of Recording Arts and Science.

About CALI Holdings Inc.

CALI Holdings Inc., is a Business Development Company under the Investment Act of 1940 aggressively seeking opportunities in emerging and fast growth industries. http://www.caliholdings.com

Safe Harbor 

The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.