EXHIBIT 99.1

Nannaco, Inc., Restructures Merger Agreement with NAZZ Productions, Inc.

April 27, 2005// Gig Harbor// Nannaco, Inc. (OTC BB: NNNC) ("Nannaco"),
announced today that it has completed negotiations with its merger partner, Nazz
Productions, Inc. ("Nazz"), to restructure the proposed merger agreement between
Nannaco and Nazz. The parties have further agreed to eliminate obligations
regarding previously negotiated termination or expiration provisions of the
agreement. Under the new agreement, Nazz will be merged into a wholly-owned
subsidiary of Nazz, which will assume certain assets and liabilities of the
parent corporation. Following the merger, the combined company will assume the
name of Nazz Productions, Inc., and file a registration statement registering
Nannaco's ownership interest in the combined company's shares. It is expected
that the shares will be distributed on a pro-rata basis to shareholders of
Nannaco at the time that the registration is deemed effective. This opportunity
for shareholder's of Nannaco to participate in the equity-ownership of two
entities arises from Nannaco's recent discussions with several unrelated
entities that seek various business combinations with Nannaco. Nannaco expects
to enter into a letter of intent with one of these entities within the next
several days.

Nazz recently optioned the screenplay for "Nebraska Fish and Game" from
acclaimed writer Neal Gumpel, whose other works include, among others,
"Uncoupled," which was purchased by Dreamworks Studios with David Permut
producing and George Gallo directing, and "Friend's Again," which Gumpel
optioned to Permut and Gallo.

In "Nebraska Fish and Game" Neal Gumpel's writing fills the script with finely
defined characters that Nazz believes will potentially provide both new and well
established actors with exceptional on screen opportunities. The quality of the
script has generated significant interest such that the producer believes that
he will be able to sign quality actors with name recognition. The producer is
currently scouting locations throughout the US and expects principal photography
to begin in early Fall 2005.

Nick Stagliano, CEO of Nazz, commented "We are very pleased to retain the
opportunity to turn `Nebraska Fish and Game' into a world class motion picture.
Working with Neal Gumpel's script makes the task of producing a high-quality
film that much easier."

Steve Careaga, CEO of Nannaco noted, "We are very excited about restructuring
our merger agreement with Nazz Productions. By virtue of this modification,
shareholders of Nannaco will participate in the both upside of Nazz and the
opportunity to participate in the upside potential of one or more additional
merger candidates."


In connection with the revised merger plans and near-term opportunities, Nannaco
further announced today that, following a due diligence period in connection
with its planned merger with Global Defense Corporation, which the parties
announced on March 1, 2005, Nannaco and Global Defense Corporation have mutually
agreed not to pursue consummation of the proposed merger between the parties and
have ended further negotiations.

About NANNACO, INC.

Nannaco, Inc. previously provided surface cleaning, surface protection, surface
restoration, and other services to commercial and industrial businesses, as well
as to owners of historical buildings. The company has moved to a new line of
business as a consultant and advisor to customers and is seeking to improve its
financial position through the acquisition of or merger with companies capable
of providing the best value to its shareholders.

More information about Nannaco Inc. can be found at www.sec.gov

NOTE: This press release may contain "forward-looking statements." In some
cases, you can identify forward-looking statements by terminology such as "may,"
"will," "should," "could," "expects," "plans," "intends," "anticipates,"
"believes," "estimates," "predicts," "potential" or "continue" or the negative
of such terms and other comparable terminology. These forward-looking statements
include, without limitation, statements about our market opportunity, our
strategies, competition, expected activities and expenditures as we pursue our
business plan, and the adequacy of our available cash resources. Although we
believe that the expectations reflected in any forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity, performance
or achievements. Actual results may differ materially from the predictions
discussed in these forward-looking statements. Changes in the circumstances upon
which we base our predictions and/or forward-looking statements could materially
affect our actual results. Additional factors that could materially affect these
forward-looking statements and/or predictions include, among other things: (1)
the company's limited operating history; (2) the company's ability to pay down
existing debt; (3) the company's ability to retain the professional advisors
necessary to guide us through our corporate restructuring; (4) the company's
ability to secure necessary financing; (5) potential litigation by shareholders
and/or former or current advisors against the company; (6) the potential
inability of the company to have a registration statement declared effective;
(7) the company's success in securing third-party commitments, production
agreements and/or licensing contracts; (8) the company's ability to comply with
federal, state and local government regulations and/or unforeseen changes in
federal or and government regulation; and (9) the risks inherent in the
investigation and consummation of the acquisition of a new business opportunity
or other factors over which we have little or no control. Nannaco, Inc.

For further information, please contact Steve Careaga at 253-853-3632, or send
correspondence to 4906 Point Fosdick Dr., Suite 102, Gig Harbor, WA 98335

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