SOURCE: Puritan Financial Companies, Inc.

May 16, 2007 09:25 ET

Puritan Financial Companies, Inc. Names D. M. Rusty Moore, Jr. Chairman of the Board and President

DALLAS, TX -- (MARKET WIRE) -- May 16, 2007 --Puritan Financial Companies, Inc. (Puritan) announced today that D. M. (Rusty) Moore, Jr. has joined Puritan as a shareholder and President, and has been appointed to its Board of Directors as Chairman of the Board.

Mr. Moore most recently served as Chairman and Chief Executive Officer of Rushmore Financial Group, Inc. and Rush Financial Technologies, Inc., now Terra Nova Financial Group, Inc., the company he founded in 1991 as a traditional financial services company, which under his leadership grew rapidly from a start-up into a retail brokerage organization with a nationwide account base and network of approximately 2,000 agents and registered representatives. Mr. Moore led Rushmore Financial through its successful initial public offering (IPO) on the Nasdaq SmallCap Market in April 1998. Over a fifteen year period, he led the Company through a number of transactions culminating with the merger and acquisition of Terra Nova Trading, LLC which was consumated in May of 2006.

Matthew McIntyre, Puritan's Chief Executive Officer, commented, "The addition of Rusty Moore, his vision and leadership to the Puritan Financial Team is an important and timely development for our Company. With Rusty's proven capabilities in the insurance and securities brokerage business and with his overall knowledge of the industry, we are confident of the value he brings and that we will continue to experience the growth that we have envisioned. He brings to Puritan expertise and leadership in financial services and life insurance business development, operations and compliance and is a proven 'hands on' leader in the areas of capital raising, strategic planning, implementation of culture change, corporate governance, leadership development, recruiting and training."

"Puritan Financial represents a unique opportunity and I am excited about contributing to the continued success and growth of the Company," said Moore. "Puritan has developed a profitable business model and strong core competencies in serving the senior market. Puritan's proven abilities in marketing and operations can be leveraged into a strong position and value in the financial services market," he added.

About Puritan Financial Group

Puritan Financial Companies, Inc. is a privately owned and closely held holding company for its primary operating subsidiary, Puritan Financial Group, Inc., and other affiliates. Puritan Financial Group is a licensed insurance agency and conducts business in multi-state area with its primary focus on acquiring and serving retail customers in the senior market.

Puritan Financial Group, Inc. is headquartered in Dallas, Texas, and has branch offices in Houston, Texas, Louisiana, Oklahoma, Tennessee, Kentucky, Ohio, Michigan and Pennsylvania. For more information about Puritan Financial Group products and services, please visit www.puritanfinancialgroup.com and www.puritangroup.com

About D. M. Rusty Moore, Jr.

Mr. Moore was also formerly Chairman and President of Rushmore Life Insurance Company, a wholly owned subsidiary of Rushmore Financial Group. During his tenure, the Company ranked in The Dallas Morning News listing of the Top 200 DFW largest public companies. He has been quoted in numerous publications, including The Wall Street Journal, New York Times, Business Week magazine and The Dallas Morning News.

Mr. Moore is a 25 year veteran of the insurance and investment industry with experience in capital structure formation through private equity, IPO and secondary public offerings. He began his financial services career advancing from Sales Representative, Branch Manager, Regional Vice President, Senior Vice President to National Sales Director with Primerica Financial Services, now a division of CitiGroup, where he received numerous awards for outstanding sales management performance. He is a graduate of Southern Methodist University (SMU), with a B.B.A. in Marketing. Mr. Moore has served on the boards of a public company, several private companies and not-for-profit organizations.

This press release includes statements that may constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, continued acceptance of Puritan's products and services in the marketplace, competitive factors, changes in regulatory environments, and other risks. Puritan does not undertake any obligation to update or publicly release any revisions to any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

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