SOURCE: Equus Resources, Inc.

March 17, 2006 08:30 ET

Equus Resources Acquires Florida Mortgage Branch

ATLANTA, GA -- (MARKET WIRE) -- March 17, 2006 -- Equus Resources, Inc. (OTC: EQUR) ("Equus") announced today that it has acquired a mortgage branch operation in Jacksonville, Florida which will continue to be managed by Vito Lombardo and Debra Beuther. For the past five years, the branch operation was part of a large multi-state mortgage company. It is anticipated that the branch will originate in excess of $60 million in residential mortgages over the next year.

Vito Lombardo, a licensed mortgage consultant and branch manager, has served in Jacksonville as a branch manager of New Future Mortgage and a partner and manager of Principal Mortgage. Debra Beuther, a licensed mortgage broker with experience in loan origination and processing, has served in Jacksonville as a mortgage banker with Washington Mutual, New Future Mortgage and Principal Mortgage.

In making this announcement, Bert Watson, Equus CEO, commented: "Having been actively involved in the financial services industry in Jacksonville for many years, I am very familiar with our strong real estate growth market and the superb capabilities of Vito and Debra. Given these factors, we believe we can achieve quantum growth in our mortgage business in Jacksonville."

Vito and Debra added: "We are excited to become part of the Equus team and are confident of our abilities to recruit and train loan officers and rapidly expand the mortgage business in and around Jacksonville. We believe that the explosive growth in the mortgage market here will continue far into the foreseeable future and we are well positioned to share in that growth."

About Equus

Equus is a diversified financial and educational services company offering consumer, commercial and corporate clients a broad range of financial and educational products and services, mainly in Georgia and Florida. Equus plans to expand its core businesses and geographical areas of operation through internal growth and acquisition and to add related lines of business as demand warrants. Our principal offices are in Atlanta, Georgia and Jacksonville, Florida. For more information, please visit us at www.equusresources.com or e-mail us at investorinfo@equusresources.com.

Forward-Looking Statements:

Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgment of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties, including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, the receipt of revenues, and other factors, many of which are beyond the control of the Company.

Contact Information

  • Contact:
    Bert Watson
    CEO
    Equus Resources, Inc.
    (904) 371-2443