Intrepid Holdings Develops Urban Senior Living Communities.

HOUSTON -- Intrepid Holdings, Inc. (OTCBB:ITPD) announced today the creation of a wholly owned subsidiary, Community Allied Development Corporation (CADC). CADC will be developing senior living, planned real estate developments in targeted urban communities across America.

These age-restricted projects are being developed with full amenities, including a retail center, health club facilities, living quarters, and healthcare services for both inactive and active seniors. The targeted properties will be built in and around underserved urban communities, with a focus on the affordable market for this demographic.

"As the name implies, Community Allied Development Corporation works with the community in developing these senior-living properties, while promoting revitalization," says Harold "Butch" Woolfolk a principal director of CADC. "While we focus on revitalization in the urban community, we see revitalization in the lives of its people as well. Seniors should have the opportunity to live in a safe and secure community, a community which also is able to offer attractive amenities and provide for their healthcare needs."

CADC's senior management has been involved in community-based real estate projects for the past 15 years. Their list of projects is extensive, including joint venture revitalization developments, working with some of the most noted local and national builders, such as KB Homes, US Home, and Gateway Homes.

"CADC allows Intrepid to continue to grow and enhance its 'urban life care' focus. The individuals who live in these urban developments can utilize our pharmacy, clinic, and other care services," said Maurice Stone, Chairman of Intrepid Holdings, Inc.

Intrepid Holdings is a public holding company whose business strategies are focused on the delivery of healthcare and related services. Intrepid's present business is concentrated in mail-order pharmacy, central-fill pharmacy, and pharmacy benefit management (PBM) services. The company is actively pursuing opportunities to expand its "urban life care" focus in additional market sectors related to Medicare, Medicaid, and urban market populations.

This press release contains various forward-looking statements and information, including management's expectations of revenues, earnings per share, operating margins and growth in certain markets that are based on management's belief as well as assumptions made by and information currently available to management. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions including, among other matters, changes in market conditions, availability of funding and competition for venture capital investments. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. For a discussion of the risks, investors are urged to refer to the company's reports filed under the Securities Exchange Act of 1934.