WASHINGTON -- Asset Capital Corporation, Inc. announced today the appointment of Clay E. Carney to the position of Chief Financial Officer. Mr. Carney assumes the position previously held by Barry E. Johnson. Mr. Johnson tendered his resignation on November 15, 2005, subject to the appointment of a successor.

Peter C. Minshall, Chairman and Chief Executive Officer of Asset Capital Corporation, stated, "Barry has been an integral part of the initial development of our financial functions, but has decided to move on to pursue new opportunities. We wish Barry well in all of his future endeavors."

Mr. Carney joins the Company from Time Warner Cable, where he served for six years as Vice President of Finance and Chief Financial Officer for Time Warner's Road Runner division and more recently as a Regional Vice President of Finance for Time Warner's Texas region. He has also held senior financial management and accounting roles for Discovery Communications, Inc., BET Holdings, Inc. and PricewaterhouseCoopers. He graduated from Radford University with a B.S. in Business Administration with a concentration in accounting and is a non-practicing Certified Public Accountant and a member of the American Institute of Certified Public Accountants.

Mr. Minshall continued, "Clay brings nearly 20 years of valuable financial leadership to Asset Capital having worked with companies from start up to maturity. His experience working with publicly traded companies, including financial reporting and Sarbanes-Oxley compliance, will be particularly valuable as we proceed through the initial public offering process and into the future."

About Asset Capital Corporation

Asset Capital Corporation, Inc. is a fully-integrated real estate operating company focused on opportunistically acquiring, redeveloping, financing, managing and disposing of commercial real estate properties located primarily in the greater metropolitan Washington, D.C. marketplace and its surrounding areas. The Company was formed to continue the investment strategy employed by the management team at its predecessor entities, which is to invest in commercial real estate properties and other commercial real estate- related assets that have the potential for a significant increase in operating cash flow from the company's hands-on management, leasing, engineering and capital improvement programs. Asset Capital focuses its investment activity in the geographic region including Washington, D.C., bounded by Baltimore, Maryland in the north, Richmond, Virginia in the southwest and Norfolk, Virginia in the southeast.