CALI Holdings, Inc. Signs Letter of Intent.

ORLANDO, Fla. -- CALI Holdings, Inc. (OTCBB:CALI) announced today that it decided to strategically focus its best business efforts on financing the recovery of the cargo from shipwrecks that are valuable for both their historical and cash values.

Management performed extensive due diligence on the fundamentals of this unique business sector and specific recovery sites to evaluate the financial benefits for its shareholders. It was determined that there is room for significant improvement in earnings per share for stockholders by addressing some fundamental business issues that can establish some stability in ocean cargo recoveries and position CALI as the worldwide leader.

To date, the industry has been constrained with limited inventory, legal issues, and the costs of researching and locating valuable opportunities for recovery. Since capital investment has not been aligned with efficient recovery, poor and unsustainable ROIs are common. Many companies have made significant equipment and technology investment without supporting the investment with solid business techniques including project flow, risk mitigation and an organizational structure that will allow for scaling of the business. CALI will address these issues through acquisitions and the addition of experienced management.

CALI's analysis shows that there are billions of dollars of lost cargos that can now be economically recovered because of new technological breakthroughs in site sensing and deepwater recovery, developed primarily for the offshore oil industry. Other publicly traded US companies in cargo recovery include Odyssey Marine Recovery at $4.00 per share (AMEX:OMR) with a market capitalization of approximately $170 million and Admiralty at $0.15 per share (OTCBB:RUBM) with a market capitalization of approximately $8 million.

CALI has signed a letter of intent to acquire a company with extensive experience and is currently funding the recovery of cargo from several important shipwrecks. CALI plans to finish spinning out its other businesses in order to focus the Company exclusively in cargo recovery to provide its shareholders with a maximum return on investment.

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.