SOURCE: 1st Global Financial Corporation

May 15, 2007 16:05 ET

1st Global Financial Subsidiary Signs Merchant Account Potentially Adding in Yearly Transactions of $8,000,000 Plus

LAS VEGAS, NV -- (MARKET WIRE) -- May 15, 2007 -- 1st Global Financial Corp.'s (PINKSHEETS: FGBF) (XETRA: ZUM) wholly owned subsidiary 1st Federal Financial Corp. has added yet another large merchant account in the San Diego, California market potentially bringing an additional $700,000 to $900,000 in monthly credit card transactions.

This marks the fourth merchant account added in the past week (see press releases dated May 8, 2007 and May 14, 2007). Collectively, these newly added merchants could potentially add more than $25,000,000 per year in credit card transactions. It is also anticipated that more merchants will be added in the coming weeks to this Southern California Market.

Point Loma Sports Fishing has signed an agreement with 1st Federal Financial to handle all credit card transactions and is expected to process between $8,000,000 to as much as $11,000,000 per year in additional credit card transactions.

"We are excited to see Point Loma Sports Fishing join our network of merchants," said Gil Gillis, president of 1st Global. "Our San Diego office is doing a great job in bringing us high-quality merchants. Between Point Loma this week and last week's addition of Fisherman's Landing, we are seeing a potential monthly increase in credit card processing of $1.8M through just these two merchants! This is truly astounding."

1st Global offers financial services for small- to mid-size businesses through three operating subsidiaries: 1st Federal Financial Inc., the sales and marketing arm, 1st Federal Advanced Funding, Inc., which provides cash advances to meet working capital, and 1st Federal Leasing, LLC, which provides sales and leasing of credit card point-of-sale equipment.

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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