Morgan Equities Group Forms New Companies

ATLANTA, July 30 /PRNewswire-FirstCall/ -- Morgan Equities Group, Inc.(OTC Pink Sheets: MGQG) announced today that it has formed two Nevadaholding companies in order to better focus its new business plan. Morgan began its first year of Asia centric operations with a platformfor future expansion. The platform consisted of three companies acquired inpart or in whole from a March 2006 share exchange. With this basic platformin place the intervening year was then spent researching both Western andAsian markets for synergies and then creating a plan to take advantage ofsynergies which were discovered. The results have led to a new focus onboth financial and IT product companies. And in order to better organizethis new focus Morgan created new holding companies: Legend FinancialProducts to contain innovative financial companies and Legend TechnicalProducts to contain leading edge IT product companies. The choice of Nevadafor incorporation was due to its tax advantages. "The first step in this process of establishing a new focus," said FredNarcross, CEO of Morgan, "is to diminish time and resources devoted to thecompanies acquired in Morgan's March 2006 share exchange. These companieshave not returned an adequate profit nor have they grown according tooriginal expectations. Immediately we will let go of LTB Manufacturing,Ltd. and ACA Trading - America. Next, we are forming Legend FinancialProducts (LFP) and Legend Technical Products (LTP) to focus our newstrategy. Both companies will be incorporated in Nevada for maximum taxrelief." Narcross went on to say that LFP will be involved in credit cardprocessing, insurance and Asia centric hedge funds while LTP will beinvolved in high tech education, leading edge social networking and otherproducts requiring a strong IT infrastructure and branding. "We alreadyhave our eye on a handful of products and companies to place under this newstructure and we will be making announcements on these opportunities in thenear future," said Mr. Narcross. Certain statements in the document may constitute "forward-lookingstatements", such as whether contemplated operations will provesatisfactory to all parties, whether any existing third-party agreementswill be renewed for additional terms, whether any outstanding offers willbe accepted, whether any of the contemplated operations will impactfavorably upon Morgan Equities Group or any other party, and whethersufficient revenue will be generated to justify or maintain anycontemplated operations. Other factors could cause actual results ofoperations to differ materially from historical results, or from futureexpectations expressed or implied by such forward-looking statements.