SOURCE: Forum National Investments Ltd.

November 28, 2007 13:17 ET

Forum National Investments Acquires $30,000,000 in Life Insurance Policies

VANCOUVER, BC--(Marketwire - November 28, 2007) - Forum National Investments Ltd. (FNI) (OTCBB: FMNLF) today announced that, through its wholly owned US subsidiary The American Life Settlement Society (ALSS), it has purchased in excess of $30,000,000 in life insurance policies in ALSS' first six weeks of operations.

Separately, FNI announced that its November 2007 new travel club membership sales rose 273% over November 2006. Management attributes the significant increase in new travel club revenues to the recent acquisition of Family Vacation Centers, as well as the strong Canadian dollar which has spurred interest in foreign travel among Canadians. FNI owns and operates the largest wholesale travel club in Canada.

Further, the company announced that its common stock was included for quotation on the OTCBB in the United States as of November 21, 2007 under the symbol (FMNLF).

"We are pleased to have successfully launched ALSS in the Life Settlement market through the acquisition of more than $30,000,000 of life insurance policies," said Dan Clozza, President and CEO, FNI. "ALSS is implementing a direct to consumer business model that will go into effect in 2008; we expect that this approach will minimize or even eliminate the need for middlemen, and bring transparency to the Life Settlement marketplace. Specifically, it will allow us to pay policyowners more while simultaneously maintaining or ever increasing our margins as we limit or remove middlemen -- thereby cutting unnecessary costs -- from the transaction."

About ALSS

ALSS is engaged in the secondary market for life insurance generally known as life settlements. A life settlement is a financial transaction in which a policyowner possessing an unneeded or unwanted life insurance policy sells the policy to a third party for more than the cash value offered by the life insurance company. The purchaser becomes the new beneficiary of the policy at maturation and is responsible for all subsequent premium payments.

Life settlements are an important development in that they have opened a secondary market for life insurance in which policyowners can access fair market value for their policies, rather than accepting the lower cash surrender value from the issuing life insurance company.

About FNI

Forum National Investments Ltd. is a public company, which through its wholly owned subsidiary American Life Settlement Society, is engaged in the Life Settlement industry. FNI also owns and operates the largest wholesale travel club in Canada which operates through a number of subsidiaries, including Snowbird Vacations, Family Vacation Centers and Fitness Vacation.

The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although Forum believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, spending levels and other factors could cause actual results to differ materially from Forum's expectations.

Contact Information

  • For further information contact:
    Dan Clozza