SOURCE: Expert Group

October 29, 2009 08:30 ET

Expert Group Inc. Completes Funding Requirements for 2009, Stabilizes Share Structure

MIAMI, FL--(Marketwire - October 29, 2009) - Expert Group, Inc. (PINKSHEETS: EXPU) announces that for 2009 the company will not be in need of raising any additional capital.

2009 is a milestone year for Expert Group as we faced a crisis in the mortgage market and were actually able to increase our originations and closings. In a time when other businesses in the mortgage industry failed, we not only survived, we found new ways to thrive. 2009 is on track to be Expert Group's biggest year ever, by far.

Some of Expert Group's achievements in 2009:

Expert Group received approval and became a certified FHA Lending Institution.

Expert Group opened 2 new offices in Miami-Dade County: one in Aventura and another in BAL Harbour.

Expert Group enhanced our brand through television, billboards, and special features such as The Best of South Florida.

Expert Group added to our management team as well as added processors to our back office.

Expert Group currently has 65 originators actively working to secure new business.

Expert Group was featured prominently on Mortgage Daily, the largest publication in the industry.

Expert Group will celebrate the grand opening of the BAL Harbour location this November. At this event the company will receive the prestigious Proclamation Award from the city of Bay Harbour Island.

Expert Group has signed with 10 new banks in 2009 including Bank of America. This brings our alliances with banks to 50. Because of these strategic partnerships Expert can find more people better loans. Expert Finance's loan closing rate is up do to New Leads, ADS, Originators, and New Offices.

Robert Rico said: "I would like to address shareholders concerning their questions about shares issued to raise capital. I understand everyone's concern. Expert Group is growing a business responsibly with your interest in mind; that being said, the company is done raising capital for 2009. Through the recent addition of shares into the market, Expert Group was able to raise approximately $250,000. These monies have been used to establish the new BAL Harbour office and I'm pleased to report that we're headed into 2010 with a good pool of capital. I will continue to keep shareholders informed through press releases and our blog at through the remainder of the year. Lastly, look for numbers shortly; we believed it was best to release this news before the numbers so that investors could feel confident in making valuations about our growing company."

Expert Group's current share structure is 43M o/s with approximately 21M in the float.

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