SOURCE: FIIC Holdings Inc.

April 20, 2007 12:03 ET

FIIC Holdings, Inc. Gets $2,000,000 Guaranty: Mehdi Hatamian

IRVINE, CA -- (MARKET WIRE) -- April 20, 2007 -- FIIC Inc., a wholly owned subsidiary of FIIC Holdings, Inc. (OTCBB: FIIH), announced today that it has contracted with Mr. Mehdi Hatamian, a Venture investor, to Guarantee up $2,000,000 for risks to be insured by the FIIC Risk Retention, a District of Columbia Captive Company having offices at 1585 Bethel Road, Columbus, Ohio 43220. The Guaranty will increase the Company's ability when it comes to any unforeseen claim during the first year of operations.

On April 9th, 2007, the Company entered into a Guaranty Agreement for additional capital sources to cover any unexpected claims that might arise during the first year of operations. The company is in the process of completing additional funding activity for additional operating Capital, but believes this additional coverage will bridge the early stages of the potential risk assessment process.

Commenting on the relationship, Ariana Blenkers, an Executive Associate with FIIC Holdings, Inc., stated, "Mr. Hatamian is an advocate for small business development, he has developed several patents in the high tech industry and understands the funding problems associated with young company funding and is excited about the ramifications of such a new insurance product and the impact on the funding process of future entrepreneurs."

James France, the CEO of FIIC Holding, Inc., stated: "We are pleased to have Mr. Hatamian involved. His understanding of the capital-raising struggle for small businesses in today's financial environment helps explain not only the concern for the 'risk' an investor takes but the hardship an entrepreneur has in finding capital sources for his ideas."

Mr. Hatamian stated: "FIIC's new insurance product approach should increase investing activity for the small business capital markets, increase education concerning the funding of risk investments, while providing downside protection to the investor, adding improved corporate governance tools for the investment community and financial capital markets in the process." Hatamian further stated, "When this product comes to market we may see a change in the financial landscape for funding all types of transactions that need to minimize risk. The world insures everything, why not the funds that go into businesses that we make the products we need or that we make our livings from?"

For more detailed information about FIIC Holdings, Inc., visit: http://www.FIIC.net, or contact Jim France at JimFrance@FIIC.net or (614) 326-5469.

About FIIC Holdings, Inc. and FIIC, Inc.

FIIC, Inc., a wholly owned subsidiary of FIIC Holdings, Inc., has an exclusive license to access and use a proprietary set of underwriting data and standards, known as the FIIC Underwriting Data and Standards, and an associated web-based interface, collectively known as the FIIC Database Content and Technology. FIIC, Inc. intends to use this proprietary information and technology to underwrite a new form of insurance policy, designated as an Investor Protection policy, designed and intended to bolster investment in new and growing businesses by insuring businesses, which will then name their investors as beneficiaries, against certain kinds of business failure. FIIC, Inc.'s objective is to provide a stable investment environment for small business investors through the strict application of its underwriting criteria.

Forward-Looking Statements

This press release contains forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially. For a discussion of those risks and uncertainties, please see our filings with the Securities and Exchange Commission. We file annual, quarterly and special reports and other information with the SEC. You may read and copy any reports, statements or other information that we file at the SEC's public reference room at 100 F Street, N.E., Washington, D.C., 20549. Please call the SEC at 1-800-SEC-0330 for further information on the public reference room. You also may obtain copies of this information by mail from the Public Reference Section of the SEC, 100 F Street, N.E., Washington, D.C., 20549 at prescribed rates. Our public filings with the SEC also are available from commercial document retrieval services and at the web site maintained by the SEC at http://www.sec.gov.

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