SOURCE: Silverado Financial Inc.

February 21, 2008 13:07 ET

Silverado Financial Subsidiary Secures Catalog Agreement

STOCKTON, CA--(Marketwire - February 21, 2008) - SILVERADO FINANCIAL, INC. (PINKSHEETS: SLVO) is pleased to announce that its wholly owned subsidiary, WATER SKEETER SPORTS INNOVATIONS, INC ("WSSI"), has secured a spring catalog agreement with the largest marine retailer in North America, West Marine.

West Marine operates over 400 full service marine retail stores nationwide including Puerto Rico and Canada with sales exceeding 700 million annually.

In an interview with the VP of Sales & Marketing, David Way, he stated, "This catalog agreement with West Marine will be instrumental in WSSI achieving its goal of emerging and repositioning the Water Skeeter product line into the mainstream boating and marine category across all retail sectors."

Robert Myers, CEO of WSSI, who was instrumental in obtaining this agreement, is well versed in doing business with the marine retail giant.

Robert Myers stated, "We have several new products on the drawing board for 2009 that I feel will fit West Marine's channels of distribution and we intend to request additional meetings with them to discuss how we might do more business together."

Notes about forward-looking statements

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.

Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied.

Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," "intends," "believes," "may," "should" and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date when they are made.

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