SOURCE: 1st Global Financial Corporation

August 29, 2007 11:34 ET

1st Global Financial Signs Supplier Agreement With VGM Club Resorts and Gaming Division; Anticipate Monthly Transactions of $750,000

LAS VEGAS, NV--(Marketwire - August 29, 2007) - 1st Global Financial Corporation (PINKSHEETS: FGBF) (German WKN#A0LGTAZ) (XETRA: ZUM) has reached an agreement with VGM Club to be a Preferred Participating Provider for credit card processing. VGM states that they anticipate the monthly credit card transactions for 1st Global could be as high as $750,000 within the next 120 days.

VGM Club is the nation's premier group purchasing organization within the resort, club and golf industries providing its members access to significant savings through their negotiated contracts with hundreds of nationally recognized suppliers. They are currently working to become a major provider to the Native American Indian community, especially in their Gaming sector and Golf Courses, throughout the US. According to VGM, the opportunities for credit card processing are especially lucrative in the areas of golf charges, hotel charges, restaurants and spa services.

"We have a great company with a large number of supplier contracts, with national recognition for being extremely proficient at what we do," says D Jay Ellis, President and Chief Executive Officer of VGM. "We believe that we will become a dominant force within Native American Gaming and look forward to having 1st Global as a Preferred Participating Provider with VGM Club Resorts and Gaming Division."

"The VGM agreement is exemplary of the quality relationships we have been able to build," says T.A. "Gil" Gillis, President of 1st Global. "1st Global will see an immediate benefit in terms of an increase in transactions processing with VGM. More importantly, I believe this will be a long term relationship that will flourish over time and be of great benefit to 1st Global, VGM Club and the Native American Indian community."

This release includes "forward-looking statements" from the company that may or may not materialize and recipients are cautioned not to place undue reliance upon them. It is important to note that actual results could differ materially from those in such "forward-looking statements" and "forward-looking statements" are inherently subject to risks and uncertainties.

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