CIC Holding Company Acquires MCORSET, Korea's Leading Women's Lingerie Company.

REDLANDS, Calif. -- CIC Holding Company Inc. (OTC:CICG) is pleased to announce that it has acquired the assets of MCORSET Inc. in a stock purchase transaction. Formed in 1999, MCORSET Inc. has developed into the leading women's innerwear (lingerie) company in Korea. MCORSET's premium brands are known for their style and quality and are sold in the leading home-shopping and on/off-line portals in Korea and China.

Sung Park, CIC Holding Company's Chairman of the Board, said today, "We are pleased to have acquired Korea's leader in women's innerwear (lingerie) fashion and look forward to expanding their brands into the multinational market." CICG's new CEO, Mr. Kevin Lee, added, "This acquisition is a substantial opportunity for both CIC Holding Company and MCORSET's shareholders."

CICG is building an asset which intends to provide long-term growth for its investors and believes its unique pairing of quality brands will allow the Company to become one of the leaders in global fashion in the coming years. Zirk Engelbrecht, CICG's President, added, "We intend to continue growing through strategic acquisitions and partnerships, as well as through strong organic growth. I want to stress our goal to become an international player by providing banking and corporate advice to our subsidiaries and to encourage profitable growth led by the strong management of each subsidiary."

ABOUT MCORSET Inc.

Since its establishment in 1999, MCORSET Inc. has developed into a very successful women's innerwear (lingerie) fashion apparel businesses in Korea and China. The company currently operates "LEFEE", "Kiss Republic", "SUANE", and "Fashino" brands, which have become the nation's top premium women's innerwear line expanding to three major Home-shopping broadcasting channels, 10 major on-line total shopping malls, and major retail department stores.

The MCORSET Inc. business has been further enhanced by the addition of overseas home-shopping and on/off-line markets in China as strategic alliance partners. The company currently intends to expand multinational distribution channels into Europe, USA and Japan through the strategic alliance partners (Samsung Milan & LA Corp.). The company expects to utilize already established nationwide distribution channels, logistics and strong brand marketing systems to build upon its multinational innerwear apparel business.

MCORSET Inc. is a leading innerwear (lingerie) brand with a complete management system, consisting of its own planning & designing, merchandising & producing, and home-shopping & on/off-line distribution system. Since launching in 2003, the company consistently generated net profits for 3 consecutive years. In 2005 the company attained revenue of $12.6 million and its 2006 revenue was $17 million (a year over year increase of 35%). The company's growth will be enhanced through its creative new brands, both domestic and international. The new brand, "Kiss Republic", has been nominated as "2006 Excellent New Brand" by 76 professional fashion reviewers. The company has also established a Dalian, China office to expand 10 production factories and 100 manufacturing lines outsourcing in 2006.

Its current strategic plans support the company's goal to create solid and long-term profitability and to improve speedy entry of the overseas innerwear market. Moreover, the Company is equipped not only with a sound growth strategy, but also with strong management expertise. The current management team is well-equipped with both years of experience in the fashion retail business combined with proven expertise in consumer marketing. The team members exhibit strong academic background and encompass a depth of professional experiences in their fields of expertise.

Major Products (Brands);

The company's four major brands are as follows:

[TABLE OMITTED]

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 MCORSET Inc. 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 MCORSET Inc. 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. Neither CIC Holding Company Inc. nor MCORSET 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.