Prime Companies, Inc. Enhances its Balance Sheet by Successfully Obtaining Relief From a Guarantor Position in a Certain Loan Obtained by its Subsidiary LMDS Communications, Inc.

YUBA CITY, Calif. – Oct. 5 (SEND2PRESS NEWSWIRE) — Prime Companies, Inc. (OTC: PRMC / PRMC.PK) announces that it has entered into an agreement with the Rural Utilities Service, a branch of the U. S. Department of Agriculture to retire a certain loan obtained by its subsidiary LMDS Communications, Inc. and therefore relinquishing itself of its position of guarantor on said defaulted loan. By virtue of the agreement, Prime Companies, Inc. realizes the benefit of relieving itself of over $2,100,000 in debt. This allows for a balance sheet enhancement furthering the opportunity for Prime Companies, Inc. to raise the necessary capital to allow it to move forward in the aggressive implementation of its business plan.