Accretive Acquisition expected to be a significant contributor to 2009 Earnings 

COLUMBUS, Ohio--(BUSINESS WIRE)--Capital City Energy Group, Inc. (OTCBB: CETG - 
News) or "Capital City" announced that as of December 31, 2008 it has completed 
the acquisition of Hotwell Services Inc., or "Hotwell" an emerging oilfield 
service company operating in the Appalachian Basin. Capital City purchased 
Hotwell for $5 million (USD), through the issuance of 2.78 million shares of 
restricted common stock valued at $1.80 per share. Based on current 
projections, Hotwell could add an additional $2,000,000 in gross revenue per 
month and $700,000 per month in net cash flow for 2009..............

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Safe Harbor Statement

Investors and readers are cautioned that certain statements contained in this 
document, as well as some statements in periodic press releases and some oral 
statements of our officers and directors during presentations about our energy 
funds, along with Capital City Energy Group's filings with the Securities and 
Exchange Commission, including the Company's registration statements, quarterly 
reports on Form 10-Q and annual report on Form 10-KSB, are "forward-looking" 
statements within the meaning of the Private Securities Litigation Reform Act 
of 1995 (the "Act"). Forward-looking statements include statements that are 
predictive in nature, which depend upon or refer to future events or 
conditions, which include words such as "expects", "anticipates", "intends", 
"plans", "could", "might", "believes", "seeks", "estimates" or similar 
expressions. In addition, any statements concerning future financial 
performance (including future revenues, earnings or growth rates), ongoing 
business strategies or prospects, and possible future actions, which may be 
provided by the Company's management, are also forward-looking statements as 
defined by the Act. Forward-looking statements are based on current 
expectations and projections about future events and are subject to various 
risks, uncertainties and assumptions about Capital City Energy Group, its 
technology, economic and market factors and the industries in which the Company 
does business, among other things. These statements are not guarantees of 
future performance and Capital City Energy Group, Inc. undertakes no specific 
obligation or intention to update these statements after the date of this 


Capital City Energy Group
Tim Crawford, 614-310-1614


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