News Releases

Waterside Capital invests in growing laser tag company

Norfolk, Virginia, April 17, 2008 -- Waterside Capital Corporation announced today its investment in LaserNation, a Dulles, Virginia-based company that specializes in operating laser tag arenas and creating state-of-the-art laser tag equipment.

Waterside Capital, the region's only Small Business Investment Company (SBIC), invested $900,000 in LaserNation.

LaserNation CEO Bill Edwards said the investment will be used to expand operations.

Waterside CEO Lin Earley said LaserNation's proven track record of profitability and its unique and popular niche made good capital investment sense.

LaserNation operates two laser tag arenas: a multi-level 9,300-square-foot site, arcade area, and party rooms in Sterling, Virginia, and a site and arcade located in a Baltimore, Maryland, shopping mall. A third location is being planned for Richmond, Virginia.

The company performs its own R&D and manufacturing of leading-edge laser tag equipment, which will also be sold to other laser tag companies.

Leaders from both companies are available for comment at:
    Lin Earley, CEO, Waterside Capital Corporation
    (757) 672-2778 or david@rourkpr.com

   Bill Edwards, CEO, LaserNation
    (954) 560-8187 or david@rourkpr.com

Waterside Capital Corporation (www.watersidecapital.com) is a Small Business Investment Company (SBIC), headquartered in Norfolk, Virginia, with a portfolio of approximately $22 million of loans and investments in 16 companies located primarily in the Mid-Atlantic region. Waterside Capital’s individual investments range from $500,000 to over $3 million.

LaserNation (www.lasernation.net) opened in 2000 and operates two profitable laser tag arenas in Sterling, Virginia., and Baltimore, Maryland. A third arena is being planned for Richmond, Virginia. The company performs its own R&D and manufacturing of leading-edge laser tag equipment, which will also be sold to other laser tag companies.

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