Exhibit 99.1

                                 Press Release

HOWELL,  NEW JERSEY:  Surety  Holdings  Corp., a publicly  traded company (SHDC)
which is primarily  engaged through a wholly owned subsidiary in the development
of  property  in Hawaii,  including  a hotel,  golf  course  and  resort  homes,
announced that it acquired the assets of Millennium Sports  Entertainment,  LLC,
of Tannersville, New York ("Millennium") which had not yet commenced operations.
In connection with the acquisition of the  memorabilia,  Surety created a wholly
owned subsidiary, Millennium Sports & Entertainment, Inc. through which it hopes
to capitalize on the growth in the business of sports and entertainment  related
mementos.  The officers of Millennium  are Nat Manzella,  Michael  Radcliffe and
Dennis Radcliffe. Surety spokesperson Bob Knapp stated "Millennium's business is
not  only   exciting  but  also  growth   oriented.   I  believe  that  Surety's
diversification  into another business will enhance the value of the Company for
the benefit of its shareholders".

For further information please contact Bob Knapp at 732-762-1351.

These  communications  are  forward  looking  statements  within the  meaning of
Section 27A of the  Securities  Act of 1933 and  Section  21E of the  Securities
Exchange Act of 1934.  These  statements  relate to the  Company's  expectations
hopes,  beliefs,  intentions,  goals or strategies  regarding the future and are
based on certain underlying assumptions by the Company. Such assumptions are, in
turn,  based on  information  available  and internal  estimates and analyses of
general economic  conditions,  competitive  factors,  conditions specific to the
property,  and other factors.  Actual results could differ materially from those
in forward looking  statements.  The Company assumes no obligation to update any
such statements. A review should be made of the various risks, uncertainties and
other factors listed from time to time in the Company's  Securities and Exchange
Commission filings.