Charitable Asset Conversion to Facilitate Sizeable Donation to Mayor Shirley Franklin's Next Step Program

July 7, 2006 - ATLANTA -Charitable Asset Conversion LLC (CAC) announced today that it will facilitate the sale of an asset donation to Next Step - The Atlanta Promise. Assets include more than 6 floors of office furnishings, kitchen appliances, light fixtures, and brass hardware. An online auction featuring the donated assets will be held during the week of July 9th, with the net proceeds going to the Next Step program.

John Lippert, EVP of Sales & Operations for CAC: "Considering our success in the past with these types of assets we were thrilled to assist in liquidating the assets for this generous donation. We're very excited about furthering Mayor Franklin's vision for the Next Step program."

Mayor Shirley Franklin founded Next Step...The Atlanta Promise, a program that assists high school seniors in the Atlanta Public Schools with the transition from high school to the next phase of their lives.

Mayor Franklin, who personally mentors several of the program's participants, had the following to say,

"The success of the Next Step program is the direct result of partners like CAC who are helping to provide financial support and resources to our high school students preparing for life after graduation. Through companies like CAC we are able to continue our efforts to fulfill our promise to help Atlanta's young people."

The online auction will be open to the public: visit www.corporateinternetauctions.com/nextstep to register and bid. Preview and inspection times will be held during the week of the auction on Monday July 10th & Tuesday July 11th from 10am-3pm. Bidders are encouraged to view the items during the scheduled times.

Bidding will begin on Sunday, July 9th and end on Thursday July 13th.

CAC, a Boston based company, works with corporations and charitable organizations to convert donated "gifts-in-kind" (GIK) into cash for the benefit of the charity. GIK are defined as any non-cash donation, usually fixed assets that may or may not have been totally depreciated. For more information about the items up for bid please visit www.cacdonate.com.