During the news conference, special prosecutors David Powell and Delbert Brewer said John Lovett, 37, Brazil, was arrested Wednesday morning at a county residence and charged with two counts of murder.
A Grand Jury concluded its efforts recently regarding the murders of Tonya Pickett, 16, and her stepfather Ricky Mustard, 32, on Nov. 20, 1988.
"A lot of work. A tireless effort on their behalf," Powell said of the grand jury investigation. "We thank (the jury) for its work."
Joining Powell and Brewer at the press conference Wednesday were Indiana State Police Detectives Alan McElroy and Troy Stanton, ISP Sgt. Joe Watts and Clay County Sheriff Mike Heaton.
Powell said Lovett was charged with two counts of murder and was arraigned in Clay County Circuit Court Wednesday morning. He is currently being held without bond in the Clay County Justice Center.
A trial date of 9 a.m., Aug. 4, 2008, has been scheduled.
Officials confirmed Lovett, then 18, was Pickett's "boyfriend" at the time of the murders.
"We believe the evidence would show that this was not a professional hit," Powell said.
"We knew there had been a lot of rumors for a lot of years," Brewer added. "That needed to be cleaned up too."
Brewer added the Grand Jury returned a non-indictment against Glenn Selsam, whom the original investigation had centered around.
Lovett was arrested in a subdivision north of Brazil off State Road 59.
Both Powell and Brewer said 1988 statutes apply to the case.
Shortly before 1:30 a.m., Nov. 18, 1988, Mustard and Pickett were discovered inside their home, 110 W. Pinckley St., Brazil, from apparent gunshot wounds to their heads.
On Wednesday, Powell said he would not comment on whether a weapon had been recovered but confirmed both died from shotgun blasts to the head and deer slugs had been used.
The Grand Jury began working on the case Feb. 26 and concluded work March 14.
State law prohibits the release of information provided to the Grand Jury, meaning officials at the press conference Wednesday could provide little detail.