AMC Financial Holdings, Inc. Announces Abandonment of Plan of Liquidation and Dissolution

Additionally Announces Acquisition of Equity Development Corporation 


WACO, Texas, Oct. 9  /PRNewswire-FirstCall/ -- AMC Financial Holdings, Inc. (Pink Sheets: ACFL), a Delaware corporation (the "Company"), has abandoned the Plan of Liquidation and Dissolution adopted by the Company (the "Plan").  The Board of Directors of the Company determined that abandoning the Plan and pursuing other business opportunities would generate economic benefits for the Company's stockholders in excess of those that may be generated under the Plan, and thus, that it would be in the best interest of the Company and its stockholders to rescind the Plan and operate the Company as a going concern. The Company will prepare audited financial statements for the fiscal year ending December 31, 2008 and will distribute the audited financial statements to the stockholders of record when they are issued in 2009.

The Company has acquired Equity Development Corporation, a Texas corporation ("EDC").  EDC is a Texas based real estate investment company with a portfolio of commercial real estate properties.

The Board of Directors of the Company has been increased to five (5) and James R. Hawkins has been elected a director of the Company and Chairman of the Board. 

DATASOURCE: AMC Financial Holdings, Inc.



CONTACT:  Bill N. Goss, President and Chief Executive Officer of AMC

Financial Holdings, Inc., [phone]

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