Southridge Capital Management LLC Managed Funds Provide $250,000 to American Pallet Leasing, Inc. and up to $5,000,000 over the Next Two Years RIDGEFIELD, Conn., June 16 /PRNewswire/ -- Southridge Capital Management LLC ("Southridge"), a private investment firm that provides capital to growing enterprises, is pleased to announce a funding of $250,000 plus a financing facility of up to $5,000,000 between funds it advises and American Pallet Leasing, Inc. (OTC:APLS.OB) (BULLETIN BOARD: APLS.OB) ("APL") APL, headquartered in Iowa, is a leading manufacturer and supplier of pallets to American industry. APL's prime manufacturing facility is a 25,000 square plant in South Carolina, where lumber is cut and pallets are assembled. APL is looking to expand capacity to meet the demand for pallets by engaging in a roll-up strategy to purchase other saw mills. APL is also looking to establish a closed loop distribution system in the manufacture and lease of steel pallets. Current demand for pallets is estimated at 700 million annually and is growing. APL also sells lumber of various grades and qualities. The Company counts multi-billion dollar companies like Owens Corning and Home Depot as its clients. Tim Bumgarner, Chief Executive Officer of APL, said, "We are very excited about our future. As a recently formed public entity, we were looking to align ourselves with a first-rate financial partner, and Southridge, with their substantial expertise, fits the bill." "We are proud to align ourselves with American Pallet Leasing and look forward to assisting them achieve their growth goals," said Stephen Hicks, Founding Principal of Southridge. About Southridge: Since its founding in 1996, Southridge advised funds have provided approximately $1 billion in growth capital to emerging companies. Southridge is committed to funding companies with robust business models domestically and abroad. DATASOURCE: Southridge Capital Management LLC CONTACT: Steve Bruce or Ann Taylor Reed, +1-212-371-5999, both of Abernathy MacGregor, for Southridge Capital Management LLC

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