FRANKLIN, TN–(EMWNews – July 28, 2008) – City Capital Corporation (PINKSHEETS: CTCC)

has experienced record growth in the first two quarters of 2008 on the

success of its socially conscious investing programs, announced CEO Ephren

W. Taylor II. Taylor reports City Capital real estate closings increased

tenfold from fourth quarter 2007 through June 2008, this in the face of

current economic conditions. In fact, current foreclosure issues in major

markets have dramatically increased consumer demand for the company’s

affordable properties.

The company’s Community Renaissance Initiatives to provide easily

affordable homes for working-class families have struck a responsive chord

in the marketplace. City Capital has received hundreds of new applicants

for its Credit-Investor program that allows individuals to use their good

credit alone to sponsor homes within these communities and keep all profits

from their sale.

“Working with our local community partners, we target neighborhoods in

decline and obtain modest-size homes for renovation and makeover,” said

Taylor. “Nationally, there is a huge backlog of families looking for

homes in this lower price range, so we have a ready market for them.”

Encouraged by its surge in sales, City Capital has expanded its development

programs into two new markets since the beginning of the year. “Our

objective is to turn as many tenants into owners as possible, and create

economic empowerment within these centrally located, urban communities,”

said Taylor. City Capital is investing $82,000 in XM Satellite Radio time

to attract more Credit-Investor participants.

The company has also raised $1.6 million in investment capital through

private and church partnerships around the country, allowing individuals to

redirect their retirement accounts into these socially conscious programs,

in some cases doubling their return on investment.

About City Capital

City Capital Corporation (PINKSHEETS: CTCC), founded in 1984, is engaged in

leveraging investments, holdings and other assets to create

self-sufficiency for communities around the country and the world. Its

mission of “Socially Conscious Investing To Empower Urban Communities” is

carried out through initiatives that range from creating affordable housing

for working-class families to development and production of biofuels.

This release contains “forward-looking statements” based on current

expectations but involving known and unknown risks and uncertainties,

including those described in the Company’s annual report on Form 10-K for

the year ended December 31, 2007, that could cause actual events or results

to differ materially from the events or results described in the

forward-looking statements, whether as a result of new information, future

events or otherwise. The Company’s plans and objectives are based on

assumptions involving judgments with respect to future economic,

competitive and market conditions, its ability to consummate, and the

timing of, acquisitions and future business decisions, all of which are

difficult or impossible to predict accurately and many of which are beyond

the Company’s control. Therefore, there can be no assurance that any

forward-looking statement will prove to be accurate. The Company makes no

undertaking to update such forward-looking statements.