SOURCE: 1st Global Financial Corporation

March 15, 2011 11:16 ET

1st Global Financial Corporation March 15, 2011: Ireland First Advocates a Radical Overhaul of the National Asset Management Agency in Alignment With Opinions Expressed by Johnny Bannister, President of 1st Global

LAS VEGAS, NV--(Marketwire - March 15, 2011) -  1st Global Financial Corporation (PINKSHEETS: FGBF) Further to our successful event at the Fitzpatrick Hotel in Manhattan on the 13th of March, keynote speaker David McWilliams expressed the opinion that NAMA would have to be subject to immediate and serious reorganisation. John Bannister, President of 1st Global, has been advocating to the past and the new Government of Ireland that NAMA assets must be sold as a matter of urgency. Those opinions have now been endorsed by Ireland First -- a high-powered group of Ireland's most successful businesspeople who came together recently to think of ways to restore Ireland's economic fortunes. The Group includes as members Billionaire businessman Dermot Desmond; Goldman Sacs International Chairman Peter Sutherland; Glen Dimplex chief executive Sean O'Driscoll; telecoms tycoon Denis O'Brian; former Bank of Ireland chief Mike Soden; and former Finance Minster Ray MacSharry have requested a series of meetings with the new Government to discuss its proposals on the National Asset Management Agency. Ireland's property related problems are to be to the fore in those discussions.

A spokesperson for Ireland First stated that "NAMA has over EUR 70 billion in property assets tied up. We need to move as a matter of urgency to identify where NAMA has properties around the world and decide what needs to be sold now."

Ireland First will lead the delegations once meetings have been agreed with the new Taoiseach Enda Kenny and the Government of Ireland.

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