ADVANTAGE CAPITAL DEVELOPMENT CORP. ANNOUNCES INTENTION TO ISSUE PROPERTY
DIVIDEND

COMPANY PLANS TO DISTRIBUTE ONE-THIRD OF ITS POSITION OF GLOBAL IT HOLDINGS,
INC. TO SHAREHOLDERS UPON EFFECTIVENESS OF GLOBAL IT REGISTRATION STATEMENT

MIAMI, Oct. 6 /PRNewswire-FirstCall/ -- Advantage Capital Development Corp. (OTC
Pink Sheets: AVCP - News), announced today its intention to issue a property
dividend of 501,000 shares of its common stock of Global IT Holdings, Inc. to
its shareholders representing one-third of its overall equity position in
Global. Advantage's shareholders will receive approximately fifty shares of
registered free trading Global common stock for approximately every thousand
shares of Advantage stock, which they own as of the record date. The record date
for the stock dividend has been tentatively set as Nov. 15, 2004 by Advantage's
board of directors. The payment date for the dividend will be as soon as
practical after the SEC declares that Global IT's soon-to-be filed SB-2
Registration Statement is effective. The ex-dividend date will be established by
the NASD pursuant to their authority as the over-the-counter market for
Advantage's stock.

"Global IT represents our first portfolio acquisition and as a growing company
with a good business model and solid revenue, we believe both the shares
distributed to our shareholders, as well as the approximately nine percent of
Global IT being retained by Advantage, will represent significant medium- and
long-term value for our shareholders," said Jeff Sternberg, CEO of Advantage.

Earlier this year, Advantage received 15 percent of the common shares of Global
IT as part of a $500,000 investment in Global IT in the form of a Senior
Debenture. Advantage will retain both the remaining equity ownership in Global
IT, as well as its Senior Debenture. Advantage earlier announced its investment
strategy to invest in small public companies as well as private companies that
can be incubated and later spun off into their own public companies. Advantage
shall also invest in an opportunistic fashion in either private or public
companies with security and/or clearly defined exit strategies.

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 effect 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
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.