News Releases

Waterside Capital invests $450K in Norfolk game card company

NORFOLK, VA, November 1, 2007 -- Waterside Capital Corporation, a Norfolk company that invests in small businesses, announced today that it has made an initial investment of $450,000 in game card company Decipher, Inc. located in downtown Norfolk.

Decipher is a leader in the game card industry and found huge success with Lord of the Rings, Star Trek, Star Wars, and How to Host a Murder games. However, changes in the trading card game industry and management issues created some challenges for the company.

Decipher CEO Warren Holland Jr. says the company has worked through those issues and is coming back strong. "We've had many successful products in the past and we're looking forward to adding several profitable new products to the company’s line in the near future." Holland says Decipher is on the verge of announcing a very innovative trading card game before the holidays.

Waterside leaders reviewed Decipher's financials and business plan and decided to invest in the company for several reasons. "Decipher has sold millions of dollars in trading card games and they were one of the biggest and most powerful game card companies in the world," said Waterside CEO Lin Earley. "We feel they have the people, the know-how, the willpower, and the right connections to make more big deals and become that giant again."

Waterside's equity investment will be used to re-structure the company’s debt and better position the company for growth in the future.

Leaders from both companies are available for comment at:
     Lin Earley, CEO, Waterside Capital Corporation
     (757) 626-1111 ext. 307 or david@rourkpr.com

     Cindy Thornburg, President, Decipher Inc.
     (757) 664-1112 or cindy.thornburg@decipher.com

Waterside Capital Corporation (www.watersidecapital.com) is a Small Business Investment Company (SBIC), headquartered in Norfolk, Virginia with a portfolio of approximately $28.3 million of loans and investments in 19 companies located primarily in the Mid-Atlantic region. Waterside Capital’s individual investments range from $500,000 to over $3 million.

Decipher, Inc. (www.decipher.com) is a privately-held company that manufactures and distributes board games and trading card games. Located in downtown Norfolk since 1983, the company owns proprietary products like the How To Host A Murder game series and has licensed many popular film and television properties Star Wars, Star Trek, The Lord of the Rings, Austin Powers and many others.

David Rourk contact
(757) 478-0150, david@rourkpr.com