SOURCE: IEG Holdings Corp.

IEG Holdings Corp.

October 18, 2016 07:30 ET

IEG Holdings Corporation Announces Completion of Reverse/Forward Stock Splits and IEGHD Temporary Trading Symbol

We Expect Reverse/Forward Stock Split Will Result in an Increase in IEGH's Stock Price to Levels Above the Minimum Requirement for Up-Listing to Either NYSE MKT or NASDAQ.

LAS VEGAS, NV--(Marketwired - October 18, 2016) - IEG Holdings Corporation (OTCQX: IEGH) (OTCQX: IEGHD) announced today that on October 17, 2016 it completed the following corporate actions:

1. Effected a reverse stock split of the outstanding shares of the Company's common stock, at the ratio of 1-for-1,000 (the "Reverse Split").
2. Immediately following the completion of the Reverse Split, effected a forward stock split on a 100-for-1 share basis (the "Forward Split") and reduced the number of authorized shares of common stock from 200,000,000 to 40,000,000.

The net result of the combined Reverse Split and Forward Split is a 1:10 Reverse Split.

IEG Holdings' trading symbol is IEGH. However, for a 20-day period following effectiveness of the Reverse Split and Forward Split, a 'D' is affixed to the trading symbol, resulting in a temporary trading symbol of IEGHD until it reverts back to IEGH.

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About IEG Holdings Corporation

IEG Holdings Corporation (IEGH) ("IEG Holdings") provides online unsecured consumer loans under the brand name, "Mr. Amazing Loans," via its website, www.mramazingloans.com, in 17 US states. IEG Holdings offers $5,000 and $10,000 loans over a term of five years at a 19.9% to 29.9% APR. IEG Holdings plans future expansion to 25 US states by mid-2017. For more information about IEG Holdings, visit www.investmentevolution.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in IEG Holdings' filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond IEG Holdings' control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects IEG Holdings' current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. IEG Holdings assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

The contents of IEG Holdings' website referenced herein are not incorporated into this press release.

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