SOURCE: Beere Financial Group, Inc.

August 28, 2007 09:30 ET

Beere Financial Announces Reorganization

ORLANDO, FL--(Marketwire - August 28, 2007) - Beere Financial Group, Inc. (PINKSHEETS: BRFG) announced today that it is reorganizing it operations and its President Steve Lane's resignation will become effective on October 31, 2007.

Beere Financial is moving its business strategy towards the automotive business and out of the Entertainment and Technology Business. The company announced that it has sold its entertainment subsidiaries, CED Entertainment, Vessel Worldwide Music and Swirl Entertainment and its remaining non-automotive subsidiaries for the assumption of corporate debt. An agreement to terminate its relationship with American Rural Broadband was reached allowing its management to operate as a private entity.

"The reorganization is best for the shareholders as the attempt to move in Tech and Entertainment never resonated with market. It was difficult to explain how the entertainment services and products would merge with the technology products and services. And because of its complexities our stock price suffered. So a decision was made to move in another direction and acquire Steadfast Automotive and its subsidiaries and install new management and name a new board. I will step down in the next 65 days and a new President will be announced. This was a great experience and I am excited about the new direction as Steadfast revenues are expected to hit $2.7 to $3.0 in 2008," stated Steve Lane, President of Beere Financial Group.

Steadfast Automotive, Inc. is a Florida corporation that operates Stead-fast Custom Linings LLC in East Haven, CT and is expanding to an additional location in Meriden, CT next month. Additional expansion is expected in Northeastern U.S. and in Florida during the fourth quarter of 2007. The company intends to begin national franchise sales operations in 2008.

Expected revenue from the two locations in CT is $2.7 to $3.0 million in 2008 based on our historical nine years of operation. The products have substantial profit margins raging from 20% to 50%. Our low overhead allows us to provide substantial net profit to the organization.

Steadfast Automotive, Inc. through its subsidiary Stead-fast Custom Linings LLC provides aftermarket products and services used specifically in the light truck market. The products and services are directly marketed to individuals and truck dealerships. Products include Masterack and Crown North America lines that customize light duty vans and trucks for commercial applications for plumbers, electricians, HVAC, telecom and other light duty applications. We are licensed to sell fifteen other products including mud guards, all manner of truck covers, side rails, trailer hitches, interior/exterior accessories and installation of spray on bed liners.

Safe Harbor

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

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