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Empyrean Holdings Inc. Reports Phase One Financing for Proposed $70 Million Orlando Development Secured

Press Release: Empyrean Holdings Inc.
August 26, 2005
HOUSTON, TX -- Empyrean Holdings Inc. (OTCBB:EPYH), a national real estate holding company, reported yesterday that the Phase One financing of $10 million for land purchase and other expenditures required for accelerating the planning stage of this exciting project have been obtained. As reported before, Empyrean has partnered with United Construction Group (UCG), a national construction management company, to manage this project which will consist of a large timeshare condominium complex that will cost a total of approximately $70 million.

Empyrean and UCG also have pre-existing relationships in place for developments in California, Missouri, Wisconsin and Georgia.

CEO Robert L. Lee stated, "We are pleased to report that the top priority given to securing the initial financing has paid off, and this has also been well received by our partner, UCG."

Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.

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Contact: 
     Empyrean Holdings Inc., Houston
     Robert L. Lee, 713-260-7236
     www.epyh.com

Source: Empyrean Holdings Inc.