TAX TRANSFER CORPORATION’S TAX CERTIFICATE "POOL" SURPASSES
396 MILLION DOLLARS FOR FISCAL YEAR 2000

Basking Ridge, NJ  December 1, 1999 -- Tax Transfer Corporation of New Jersey today announced that they have more than $396 million gross Net Operating Losses to market under the State of New Jersey’s new Tax Certificate Program. This program which went into effect in July, allows qualifying Technology and Biotechnology companies headquartered in the State to sell off unused Net Operating Losses and Research and Development tax credits for cash. Of the 100 companies which applied, a total of 61 were approved.  Tax Transfer represents 31 of the approved companies.   "Having worked for over a year on this program including working with Governor Whitman's house council to help solve some major problems in the program, it is gratifying to achieve such a significant market share in the very first year of the program" stated Tax Transfer's president, Bruce Deichl.  "We have been contacted by companies and agencies throughout the United States and have made presentations to other states regarding this program", stated Mr. Deichl.

Tax Transfer Corporation was formed with the single purpose of becoming the quintessential participant in this program, accommodating both buyers and sellers of these valuable tax credits. "The return on investment to the buyer is extraordinary" says Deichl, who has over 20 years experience in the Municipal Bond market. "The Net After Tax Yields can exceed more than 10 times the return of an equivalent municipal bond or note. Equally as important, is that once certificates are issued they are guaranteed by the State of New Jersey thereby eliminating, for all practical purposes, any credit risk".

For further information contact Tax Transfer Corporation at 908-630-0087
 

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Revised: April 25, 2003