SOURCE: Omega Commercial Finance Corporation

Omega Commercial Finance Corporation

July 10, 2013 08:00 ET

Omega Commercial Finance Corporation's Subsidiary & Lending Arm CCRE Capital LLC Provides $33-Million Construction Loan to International Developer

MIAMI, FL--(Marketwired - Jul 10, 2013) - Omega Commercial Finance Corporation (OTCQB: OCFN) is a financial holding company with their core companies operating in the commercial real estate finance sector. Today they announced one of their lending subsidiary's CCRE Capital LLC has executed loan documents with Blue Steel International Ltd, a British Virgin Island development company, providing them with a four-year $33.4 Million Construction Line of Credit at a competitive Interest Rate of 10.5%. The loan is projected to generate $2-million in Gross Interest Income plus $670,000 in Origination Fees over the phase of 4-years. Construction is projected to start in the second half 2013.

The Bambereaux Private Estate, which is the named development, is situated on 25 acres of private beach frontage on the idyllic Western side of St. Vincent Island and is lapped by the warm Caribbean Sea capitalizing from the benefits of the more gentle leeward sea currents and spectacular sunsets. The land is in a secluded cove offering perfect yacht mooring. The Bambereaux Estate will encompass 39 luxury private villas, a first class restaurant, a lounge bar, beachfront bar, pool, tennis courts, gym, and children's activity area. Additionally, the project will include 16 spacious 2-bedroom apartments housed in within 4-buildings with a communal pool for each apartment block. The private villas will range from 3-5 bedrooms completed to the highest standards and reside in substantially secluded landscaped gardens with private pools. This along with the estates picture-perfect location and a 30-minute drive from the new international airport will create the most desirable and exclusive estate on the island.

About Us:

Omega Commercial Finance Corporation is a publicly traded financial services holding company with up to $150-million in assets under management through its ownership interest in VFG Securities and VFG Advisors with our principal companies operating in the commercial real estate, finance, and capital markets sector. As a holding company, OCFN together along with its subsidiaries' management teams have a combined 50-years of experience and knowledge across these business lines.

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This 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. These statements include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Omega Commercial Finance Corp., its directors or its officers with respect to, among other things: (i) our expectations regarding revenues and earnings; (ii) our growth strategy and operating strategy; and (iii) our ability to attract new registered representatives. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," "project" and similar expressions are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those projected in the forward-looking statements.

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