Columbus, Ohio -- Capital City Energy Group (OTCBB: CETG) announced today that its Chief Executive Officer Timothy W. Crawford has entered into a pre-arranged, systematic trading plan to purchase Capital City Energy Group's shares on a monthly basis in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934 and the Company's policies with respect to insider trading. Mr. Crawford has also agreed to take all of his 2008 salary and bonus in shares of the Company's stock.

"I believe that the Company's valuation does not reflect its position as one of the few vertically integrated independent oil and natural gas companies," said Mr. Crawford. "In the short time that the Company has been public, it has entered into an agreement to acquire Osage Wireline, Inc., a leading provider of geophysical well logging services in Northeastern Oklahoma and Southeastern Kansas, built a world-class management team and Board of Directors, and acquired and participated in successful oil and gas properties. With record energy prices, I am quite excited by the Company's prospects."

Rule 10b5-1 permits officers and directors of public companies to adopt pre-determined plans for buying or selling specified amounts of stock. The plans may be entered into only when the director or officer is not in possession of material, nonpublic information and may be used to gradually diversify investment portfolios over a period of time.

About Capital City Energy Group, Inc.

Based in Columbus, Ohio, Capital City is a diversified oil and natural gas company with three separate divisions. Capital City is evolving from being an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs to become one of the few vertically integrated independent oil & natural gas companies. Their strategy is to continue to grow a portfolio of core areas that provide growth opportunities through grass-roots drilling, operating, service companies, acquisitions and fund management. "Investing in America's Energy Future"

Visit Capital City Energy Group at www.capcityenergy.com

Safe Harbor Statement

Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of our officers and directors during presentations about our energy funds, along with Capital City Energy Group's filings with the Securities and Exchange Commission, including the Company's registration statements, quarterly reports on Form 10-Q and annual report on Form 10-KSB, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects," "anticipates," "intends," "plans," "could," "might," "believes," "seeks," "estimates" or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by the Company's management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties and assumptions about Capital City Energy Group, its technology, economic and market factors and the industries in which the Company does business, among other things. These statements are not guarantees of future performance and Capital City Energy Group, Inc. undertakes no specific obligation or intention to update these statements after the date of this release

Contacts
CEOcast, Inc. for Capital City Energy Group, Inc.
Daniel Schustack, 212-732-4300