Waterside Capital Corporation Announces New CEO

Mar 28, 2007, 01:00 ET from Waterside Capital Corporation

    NORFOLK, Va., March 28 /PRNewswire-USNewswire/ -- Waterside Capital
 Corp. (Nasdaq:   WSCC), a Small Business Investment Company (SBIC)
 headquartered here, announced today that long-time banker and community
 leader Lin Earley will become the company's new CEO, effective April 1,
     Earley joined Waterside in August 2006 and served as a vice president
 and the business development officer. Prior to that he worked in the
 banking industry for 37 years, where he excelled in client acquisition,
 strategic planning, commercial lending, capital solutions, and revenue
 generation. Earley spent the last 10 years of his career as Bank of
 America's regional president for the Hampton Roads market.
     Early replaces Alan Lindauer as CEO. Lindauer was instrumental in
 creating the company in 1994. Although he is retiring from fulltime work,
 Lindauer will remain active in the company as its new chairman. He replaces
 Peter Meredith, who remains on the board of directors. Martin Speroni, the
 company's research officer, has been promoted to president.
     Earley says the leadership change reflects a renewed effort by
 Waterside to focus on strategic growth, increase the company's outreach to
 the business community, and become a regional economic catalyst that helps
 the economy grow by offering investment capital and strategic business
 advice that helps expand small businesses and create jobs.
     About Waterside Capital
     Waterside Capital Corporation is a Small Business Investment Company
 (SBIC), headquartered in Norfolk, Virginia with a portfolio of
 approximately $28.3 million of loans and investments in 19 companies
 located primarily in the Mid-Atlantic region. Waterside Capital's
 individual investments range from $750,000 to over $3 million.
     For more information contact: David Rourk, Director of Public
 Relations, (757) 478-0150, david@rourkpr.com

SOURCE Waterside Capital Corporation