PRESS RELEASE                        Source: Advantage Capital Development Corp.


ADVANTAGE CAPITAL DEVELOPMENT CORP. PORTFOLIO COMPANY ANNOUNCES MAJOR NEW
ACCOUNTS GLOBAL IT HOLDINGS METRO NEW YORK-BASED IT STAFFING COMPANY SIGNS EIGHT
NEW CONTRACTS MIAMI, November 1, 2004 -- Advantage Capital Development Corp.
(OTC Pink Sheets: AVCP ), announced today that Platinum IT Consulting, a
subsidiary of its portfolio company, Global IT Holdings Inc., has signed eight
new contracts with major national and multi-national companies.

Global IT Holdings recently completed a $3 million acquisition of the assets of
Platinum IT Consulting and its associated company Parker Clark Data Processing.
The two profitable companies, which have served the New York and New Jersey
markets for 25 years, have combined annual revenues in excess of $5 million. The
acquisition included investments from Advantage Capital and another
institutional fund as well as asset based financing.

"Since we respect the confidentially of our clients we cannot publicly announce
the names of the new company contracts but the contracts are with one of the
world's leading software manufacturers, a major accounting organization, a
professional sports league, a major health-care organization, a huge,
multi-national diversified financial services company, a major European banking
and financial services organization, a major brokerage and financial services
company and one of the largest European insurance and financial services
company," said Lloyd Glick, president of Global IT Holdings, Inc. "What's
particularly gratifying about the new accounts is that none of the companies
were previous clients of Platinum, further validating our belief in the vast
potential of the Company."

Advantage Capital Development Corp. recently announced that it plans to
distribute one-third of its position of Global IT Holdings to shareholders upon
effectiveness of Global's registration statement. As a result of that
transaction, each Advantage shareholder will receive approximately 50 shares of
registered free trading Global stock for approximately every thousand shares of
Advantage stock owned. When the distribution is completed, Advantage Capital
will retain a nine percent stake in the IT staffing holding company.

The Company recently changed its name to Advantage Capital Development Corp. to
better reflect its new business operations as a regulated business development
company (BDC). To affect its business plan, the Company recently closed on a
transaction for $1 million in debt financing as part of the first phase of its
capital raise. The funds were provided by an institutional investor. The Company
said it is in the process of raising equity capital to finance additional
investment opportunities that it is currently evaluating which meet the exacting
criteria set forth by its Board of Directors.


Safe Harbor Statement


The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain of the statements contained herein,
which are not historical facts, are forward-looking statements with respect to
events, the occurrence of which involve risks and uncertainties. These
forward-looking statements may be impacted, either positively or negatively, by
various factors. Information concerning potential factors that could affect the
Company is detailed from time to time in the Company's reports filed with the
Securities and Exchange Commission.


Contact: Peter Nasca 312-421-0723

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Source: Advantage Capital Development Corp.