CIC HOLDING CO. Condemns SPAM Promotional Campaign.

SAN DIEGO -- Earlier today a widely distributed email regarding CIC Holding (OTC:CICG) was presented over the internet to thousands of unsuspecting internet users. CIC Holding had no previous knowledge of this activity and has no knowledge as to the originators of these SPAM messages. CIC Holding does not endorse, condone, nor will it tolerate these type of activities.

As soon as this activity became apparent to CIC Holding, both Pink Sheets and the Security and Exchange Commission were notified. We at CIC will continue to pursue this matter until a perpetrator or person(s) responsible are identified.

We apologize that this activity has occurred and for any inconvenience that this may have caused.

ABOUT CIC & Company

CIC's Retail Division: "Renoma Junior" (premium kid's apparel: French license): This luxurious and modern kid's apparel product line is mainly targeted for 5 to 17 year olds. This product includes formal wear (suits, dresses, and ties), semiformal wears, and accessories (hats, shoes, umbrellas, etc.) lines. Renoma Junior is a leading brand with a complete management system, consisting of its own planning & designing and merchandising & producing, and retail & franchising system. This division has 50 channel distributions all over Korea in major department stores, internet shopping-malls and road shops. Upon its launching, for the first 3 years, the brand generated consistently increasing profit. In 2004 the Company had revenues of $14.2 million (2% net profit) and in 2005 revenues of $15.6 million (7% net profit). The company's growth will be enhanced through active acquisitions of new brands, both domestic and international. Currently, the company is in discussion with leading bands in children's and women's apparel segments. We believe that the Company's value chain will be strengthened through a strong synergy effects as these segments share the same decision makers and buying processes with the Renoma brand. Moreover, internally, the Company could achieve a higher profitability through reaching an economy of scale in operation, resulted from the mergers.

FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the market for children's fashion or the apparel industry, grow as anticipated; the positioning of CIC & Company products in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether CIC & Company can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. CIC does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.