July 7, 2008

Standard & Poor’s Initiates Factual Stock Report Coverage on Capital City Energy Group, Inc.

Standard & Poor's announced today that it has commenced Factual Stock Report coverage on Capital City Energy Group, Inc.

Based in Columbus, Ohio, Capital City Energy Group, Inc. (OTCBB: CETG) is an energy company focused on the oil and natural gas industry. Capital City Energy Group has rapidly expanded from being a leader in the design, management, and sponsorship of retail and institutional direct participation energy programs, to becoming one of the few vertically integrated independent oil and natural gas companies. The company's strategy is to continually grow a portfolio of core areas which provide opportunities through drilling, operating, oil field service companies, acquisitions and management of energy assets. This strategy is accomplished through three primary operating focus areas known as the Triad business model. The Triad consists of Principal Investments, Fund Management and Strategic Acquisitions of energy-related companies.

Through the Principal Investment Division, Capital City currently derives over 90% of its revenue from over 200 separate energy properties located in 14 States which are located in virtually every major oil and natural gas basin in the Continental United States. These energy properties are fractional ownership interests in oil and natural gas wells, coal-bed methane, pipelines, lease acreage and royalty interests. The Company shares ownership interest in many of these energy properties alongside some of the major oil and natural gas companies such as Williams Exploration, Devon Energy, Cabot Oil & Gas Corporation and PetroQuest Energy.

Through the Fund Management Division, Capital City's wholly owned subsidiary Avanti Energy Partners establishes and manages energy funds for investors. The funds are direct participation programs called the Capital City Energy Funds and are marketed through regional broker-dealers for the benefit of their clients.

Through the Strategic Acquisitions Division, Capital City's wholly owned subsidiary Eastern Well Services is a growing oilfield services company which will operate in many of the significant oil and natural gas producing regions of the United States. Eastern is actively pursuing acquisitions of oilfield service companies that are interested in joining "partnership relationships" rather than traditional buyouts.

This report will also be accessible on an ongoing basis to the investment community -- scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts.

About Standard & Poor's Factual Stock Reports

This Standard & Poor's service provides factual research coverage enabling information about Capital City Energy Group, Inc. and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company's fundamentals and business prospects. Currently profiling over 1,000 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.

Standard & Poor's Factual Stock Reports are produced separately from any other analytic activity of Standard & Poor's. Standard & Poor's Factual Report research has no access to non-public information received by other units of Standard & Poor's. Standard & Poor's does not trade on its own account.

Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P's STARS research) are eligible to obtain this coverage.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.