Redishred Capital Corp. announced today that its subsidiary, Proshred Franchising Corp., has entered into an agreement with a new franchisee to operate a PROSHRED(R) shredding business. The new PROSHRED(R) franchise office will be located in San Diego, CA. The company currently has 17 locations and with the addition of San Diego, CA, PROSHRED(R) continues to develop its footprint across the United States. Redishred expects it new franchisee to commence operations in San Diego, CA in early fall of 2010.

Redishred’s President John Prittie commented, “We are very pleased to award our first new franchise for 2010 and our second on the west coast in the last 12 months. We are looking to establish a strong presence on the west coast of the United States and have targeted Los Angeles, San Francisco, San Jose, Portland and Seattle for future expansion”. Mr. Prittie further noted, “The new franchise will service San Diego and Imperial Counties and augment our current service in Southern California. Our new franchisees are well known in the Southern California business community and have many connections within the commercial real estate and finance industries.”