Forest Resources Management Appoints New Directors; Sets Shareholder Meeting Date.

NEWPORT, R.I. -- Forest Resources Management Corp. (OTC: FTRM) announced today that its President, Chaim Justman, had resigned as an Officer and Director, and that three new Officers and Directors had been appointed to serve on an interim basis until a Special Meeting of Shareholders is held on January 10, 2007 in New York City.

Appointed to the Board of Directors are Rounsevelle W. Schaum as Acting President and Director, William J. Reilly as Acting Secretary and Director, and Thomas Hagan as Acting Treasurer and Director. In addition, the Company has retained the independent accounting firm of Linda Walden CPA as a special accounting consultant for the purposes of reviewing and evaluating the financial statements of the Company and the previously-announced pending executory contracts of the Company's operating subsidiaries, and to provide such other services as may be required by the Board.

The Special Meeting of the Shareholders of the Corporation will be held on January 10, 2007 at 9:30 am at a location to be determined in New York City, for the purposes of electing a Board of Directors and for such other corporate business as shall properly be brought before such Meeting pursuant to the ByLaws of the Corporation.

The Board of Directors:

ROUNSEVELLE W. SCHAUM

Mr. Schaum, who has been appointed a Director and Interim President and CEO of the Company, is the Chairman of Newport Capital Partners, a private investment banking firm specializing in the management and financing of emerging growth companies.

He is a graduate of Phillips Andover Academy and holds a Bachelor of Science degree in Mechanical Engineering from Stanford University and an MBA degree from the Harvard Business School. He was also a member of the faculty and Defense Research Staff of the Massachusetts Institute of Technology, where he participated in the development of the computer programs for the Ballistic Missile Early Warning System.

Mr. Schaum was a founder, director and treasurer of Streaming Media Corporation; the former Chairman and CEO of BusinessNet Holdings Corporation; and has served as a crisis manager for Heller Financial Corporation. He also served on the District Advisory Council of the U.S. Small Business Administration; as Chairman of the California Small Business Development Corporation, a private venture capital syndicate; and was the founder and Managing Director of the Center of Management Sciences, a consulting firm serving the aerospace industry.

WILLIAM J. REILLY, ESQ.

Mr. Reilly has been appointed as Interim Secretary, Director and General Counsel of the Company. He previously served as an Officer and Director of the Company from its inception as Invicta Corporation in January, 2001 until August, 2006. , and also serves as Chairman of the Board. From March, 1986 to January, 1991, Mr. Reilly served as President of American Leisure Entertainment Corp., and was responsible for developing its entertainment restaurant concept. Under his direction, American Leisure completed an initial public offering of its stock in October, 1987. From 1996 to May, 1999, Mr. Reilly was an Officer and a member of the Board of Directors of BusinessNet Holdings Corp., an internet security software company, and since January, 2002 as an Officer and Director of Suncoast Naturals, Inc.

Mr. Reilly received his Bachelor of Arts degree from the State University of New York in 1974, and a Juris Doctor degree from St. John's University School of Law in 1978. From 1978 to 1981, Mr. Reilly served as a Law Clerk to a Justice of the New York State Supreme Court. From 1982 to 1983, he was Assistant Counsel to the Speaker of the New York State Assembly and, from 1983 to 1984, as Assistant Counsel to the Chairman of the New York State Assembly Ways and Means Committee.

He presently serves with the rank of Commander in the United States Naval Reserve, Judge Advocate General's Corps, specializing in International Law, and has served as a Naval Reserve Judge Advocate since his commission in December, 1980. Mr. Reilly is a resident of Boca Raton, FL, and is engaged in the full-time practice of corporate law as a member of the Bar of the State of New York and the Federal Courts. He is a member of the American Bar Association, the Federal Bar Association, and the New York State Bar Association.

THOMAS J. HAGAN

Mr. Hagan has been appointed as Interim Treasure and a Director of the Company, and brings to the Company a strong background in marketing and general Management. He will be responsible for working with management to develop a comprehensive plan for the Company's business operations.

Mr. Hagan served as President of The Dorette Company, a manufacturer of point of purchase advertising products company, from January, 1987 until October, 2002, and was responsible for a ten-fold increase in sales at that company during his tenure. His prior business experience includes management positions at General Electric Company in Cleveland, Philadelphia and Schenectady from 1960 to 1970. As a management consultant at McKinsey & Company from 1970 to 1973, he developed and managed marketing programs for numerous sales representative organizations, trade shows, key accounts and national accounts. Mr. Hagan is a graduate of Boston College School of Management, and received his Masters in Business Administration Degree from Case Western University. He has also served as a Captain in the U.S. Army Corps of Engineers.

Important Information About Forward-Looking Statements

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.