Rampart Capital Corporation Reports Profits for First Quarter 2001 Versus Loss For 2000

Apr 19, 2001, 01:00 ET from Rampart Capital Corporation

    HOUSTON, April 19 /PRNewswire/ -- Rampart Capital Corporation
 (Amex:   RAC and RAC.ws) ("Rampart") reported net profits of $533,468 or
 $0.18 per share on revenues of $2,346,472 for the first quarter ended
 March 31, 2001.  For the same period in 2000, the quarterly loss was
 $(334,181) or $(0.11) per share on revenues of $650,642.
 
      Comparative earnings data is summarized below:
 
                                     Quarter Ended March  31,
                                        2000          2001
     Total revenue                   $ 650,642    $2,346,472
     Net profit (loss)               $(334,181)   $  533,468
     Basic & diluted net earnings
      (loss) per common shares       $   (0.11)   $     0.18
     Weighted average common
      shares outstanding             3,043,169     2,905,143
 
     A major contributor to profits for the quarter was the sale of one-half
 ownership interest in a portion of the residential lots within the Newport
 project to a Canadian development and investment company with an option to
 purchase a one-half interest in the remaining assets within the project,
 excluding the golf and conference center operation.  The Newport project will
 be substantially profitable for 2001, which contrasts to a loss for 2000.
     Additionally, increased lending activity of its short-term real estate
 bridge lending program has begun contributing significant profits.  Currently,
 operating income from lending operations exceeds $40,000 per month and is
 steadily increasing.
     Rampart anticipates activity within its core business-lines -- especially
 acquisitions of non-performing commercial debt and making short-term real
 estate bridge loans -- to greatly increase during 2001.  Rampart is actively
 seeking additional funding to accelerate these programs.
     Rampart is a financial services company whose primary business activities
 include (i) acquiring undervalued financial and real estate assets,
 rehabilitating those assets and selling or operating those assets for profit,
 (ii) operating commercial real estate assets and (iii) making short-term
 bridge loans secured by real estate.
     This press release contains forward-looking statements under federal
 securities laws, including statements regarding Rampart Capital Corporation's
 expected future business and prospects.  These forward-looking statements are
 based upon current expectations and involve certain risks that could cause
 actual results to differ materially from any such statement.  These risks and
 uncertainties include (1) tightening of credit markets, (2) volatility in the
 real estate markets and interest rates, (3) emerging competition, (4) changes
 in regulations in the industries we serve and (5) changes in general economic
 conditions, particularly within the regions in which we operate.
 
     Contact:  Rampart Capital Corporation
               Chuck Janke, Jim Carpenter, Charles Presley & Eileen Fashoro
               at 713/223-4610
 
 

SOURCE Rampart Capital Corporation
    HOUSTON, April 19 /PRNewswire/ -- Rampart Capital Corporation
 (Amex:   RAC and RAC.ws) ("Rampart") reported net profits of $533,468 or
 $0.18 per share on revenues of $2,346,472 for the first quarter ended
 March 31, 2001.  For the same period in 2000, the quarterly loss was
 $(334,181) or $(0.11) per share on revenues of $650,642.
 
      Comparative earnings data is summarized below:
 
                                     Quarter Ended March  31,
                                        2000          2001
     Total revenue                   $ 650,642    $2,346,472
     Net profit (loss)               $(334,181)   $  533,468
     Basic & diluted net earnings
      (loss) per common shares       $   (0.11)   $     0.18
     Weighted average common
      shares outstanding             3,043,169     2,905,143
 
     A major contributor to profits for the quarter was the sale of one-half
 ownership interest in a portion of the residential lots within the Newport
 project to a Canadian development and investment company with an option to
 purchase a one-half interest in the remaining assets within the project,
 excluding the golf and conference center operation.  The Newport project will
 be substantially profitable for 2001, which contrasts to a loss for 2000.
     Additionally, increased lending activity of its short-term real estate
 bridge lending program has begun contributing significant profits.  Currently,
 operating income from lending operations exceeds $40,000 per month and is
 steadily increasing.
     Rampart anticipates activity within its core business-lines -- especially
 acquisitions of non-performing commercial debt and making short-term real
 estate bridge loans -- to greatly increase during 2001.  Rampart is actively
 seeking additional funding to accelerate these programs.
     Rampart is a financial services company whose primary business activities
 include (i) acquiring undervalued financial and real estate assets,
 rehabilitating those assets and selling or operating those assets for profit,
 (ii) operating commercial real estate assets and (iii) making short-term
 bridge loans secured by real estate.
     This press release contains forward-looking statements under federal
 securities laws, including statements regarding Rampart Capital Corporation's
 expected future business and prospects.  These forward-looking statements are
 based upon current expectations and involve certain risks that could cause
 actual results to differ materially from any such statement.  These risks and
 uncertainties include (1) tightening of credit markets, (2) volatility in the
 real estate markets and interest rates, (3) emerging competition, (4) changes
 in regulations in the industries we serve and (5) changes in general economic
 conditions, particularly within the regions in which we operate.
 
     Contact:  Rampart Capital Corporation
               Chuck Janke, Jim Carpenter, Charles Presley & Eileen Fashoro
               at 713/223-4610
 
 SOURCE  Rampart Capital Corporation