North Country Hospitality, Inc. (Pink Sheets:NHSP) the �Company�) today announced that it has merged its businesses with Seaway Valley Capital Corporation (OTCBB:SWVC), based in Gouverneur, New York. The new company will have combined assets of over $31 million and expects to have annualized revenues exceeding $40 million per year. The merger agreement was completed late last week. �This agreement will open opportunities for both companies to expand their core businesses and strengthen their ability to attract capital,� explained Christopher Swartz, NHSP CEO. �The shareholders of North Country can now point to a company which has increased its value by over 40% through partnering with an organization that is a clear complement to the goals we�ve set for our restaurant operations, expansion of our resort holdings and enhancing the competitiveness of our line of retail beverages including Sackets Harbor Brewing Co. and 1812 ale.� Seaway Valley focuses on making equity and equity-related investments in companies that require growth and expansion capital and has focused much of its activities in the same region, will form a new operating division that will continue to operate as �North Country Hospitality� and be run by current management at North Country. SWVC also owns Patrick Hackett Hardware Company known in the northeast as Hackett�s. The department store chain now with nine locations, and recently announced that it is opening its third Radio Shack franchise. About Seaway Valley Capital Corporation Seaway Valley Capital Corporation was formed in 2002 and makes equity, equity-related, and debt investments in companies that require expansion capital and in companies pursuing acquisition strategies. Seaway also seeks investments in leveraged buyouts and restructurings. Seaway will consider investment opportunities in a number of different industries, including retail, restaurants, media, business services, and manufacturing, and Seaway will also consider select technology investments. About North Country Hospitality, Inc. North Country Hospitality, Inc., is a holding company whose objective is to acquire companies specializing in all aspects of the restaurant and hospitality industry. The Company�s multiple operating platforms encompass restaurant, hospitality, and beverage companies that include fine dining establishments, casual and wine bar restaurants, Mexican cuisine dining, franchised quick service restaurants, and luxury resort suites. Additionally, North Country has a significant equity position in two of the largest commercial bakeries in upstate New York. This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities and Exchange Act of 1934 and is subject to the safe harbor created by these sections. Ultimate Franchise Systems, Inc. assumes no obligation to update the information contained in this press release. Certain information included herein may contain statements that are forward- looking, such as statements relating to plans for future expansion and other business development activities as well as operating costs, capital spending, financial sources and the effects of competition. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results. Accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Companies.