Beneficial Holdings Adds to Management Team; Board of Directors

MONTVALE, NJ--(Marketwired - Apr 22, 2014) - Beneficial Holdings, Inc. (OTC Pink: BFHJ) (PINKSHEETS: BFHJ) today announced an addition to its management team and the appointment of independent members of its Board of Directors.

*Nicholas DiBitetto has joined the Company as Senior Vice President and Chief Financial Officer. DiBitetto is an experienced financial professional holding controllership and CFO positions at several real estate related enterprises in the New York metro area over the last 30 years. 

The Company's Chairman, President and CEO, Gregory N. Senkevitch stated: "The addition of DiBitetto deepens our management team as Beneficial moves to a higher level of activity. Nick will add value as we move to normalize our public company reporting regimen."

New Board members will take office on July 1, 2014:

*Harold J. Raveche, PhD is President of Innovation Strategies International, LLC (www.innostrategies.com) with projects in Asia, Latin America and India. Dr. Raveche serves as Founding Board Director of Vision Technology Systems (www.vt-systems.com), the U.S. Division of Singapore Technologies and Founding Director of Biogen (www.biogendr.com) which manufactures patented technology that converts biomass to synthetic gas for production of electric and thermal energy. He was previously President of Stevens Institute of Technology, an innovative global institution of higher learning based in Hoboken, NJ.

*Allen Boston, CPA is a retired Ernst & Young partner, spending 36 years in the firm's Baltimore, New York and Americas practices, serving a wide range of clients in diverse industries, including real estate and construction. He has served as member of several non profit boards, associations and advisory boards, including the Maryland and New Jersey State Societies of CPAs and on the executive council of the American Institute of CPAs.

*Norman Melnick is a retired inventor, entrepreneur and investor. He was formerly the CEO of Penntech, Inc. which he founded, took public and sold in the early 1990's. Mr. Melnick was an early adopter of outsourcing manufacturing to China.

*Michael J. Petersen Esq. is a partner in the law firm Shulman Hodges & Bastian LLP of Irvine, CA. He has served as corporate counsel for Prudential Financial and its various subsidiaries. After Prudential, he served as general counsel to Newport Financial and its subsidaries. Shulman Hodges & Bastian currently serves as counsel to the Company.