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NJ'S FIRST PRIVATE SAFE DEPOSIT BOX COMPANY APPLIES FOR LICENSE

Company will establish itself as leader in secure storage of documents and hard assets for businesses and consumers, including disaster recovery management.

Contact: Jim Medalia
Tel: 609-497-9115
Email jimm@charterprivate.com

February 25, 2007

Princeton, NJ - A 100 year old industry is about to receive a major facelift. Charter Private LLC is announcing the formation of New Jersey’s first private safe deposit box company. The company is currently engaged in the licensing process with the New Jersey Department of Banking and Insurance. Located in Princeton’s Forrestal Village, the company aims to fill several significant voids in the safe deposit box rental market: availability, premium customer service and peace-of-mind security.

“Despite the large volume of banks and/or credit unions in Mercer County, we found that many did not include vaulted safe deposit box facilities,” said Charter Private CEO Jim Medalia. “It’s also apparent that as banks trend towards automation and web-based service applications, less resources are directed towards safe deposit box client customer service and security protocol.” Charter Private will target the needs of businesses and individuals by offering custom and specialty size boxes designed for the storage of important documents (e.g. legal, financial, personal) and hard assets (e.g. collector items, jewelry). The company will also provide digital photography and appraisals of valuables. Clients will be encouraged to arrange box access by appointment.

Charter Private has contracted with Princeton based company Diebold Corporation to provide its vault and safe deposit box solutions. In order to gain entry to the facility, clients will engage in signature and biometric identification, including the optional use of an encrypted digital lock & key to gain access to their box. The result of these measures will make Charter Private more secure than the industry standard (bank).

Since its inception in April of 2006, Charter Private has raised necessary capital as designated by the New Jersey Department of Banking. The company has also recruited an advisory board of professionals in the banking and security industries. While awaiting license confirmation, Charter Private will continue to raise funds and plan to open its doors in the 3rd quarter of 2007.

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If you would like more information about Charter Private LLC, or would like to schedule an interview with Jim Medalia, please contact E-Ping Nie at 609-497-9115, or by email, eping@niemedalia.com.