LAS VEGAS, Feb. 13, 2004 (PRIMEZONE) -- Vestin Group, Inc. (Nasdaq:VSTN) today announced that its board of directors has been notified by Michael Shustek, chairman and chief executive officer, that after further considering the matter, Mr. Shustek, chairman and chief executive officer, has decided not to pursue taking the company private at this time.
About Vestin Group
Vestin Group, Inc. is engaged in asset management, real estate lending, and other financial services. Its subsidiary, Vestin Mortgage, Inc. has facilitated more than $1.5 billion in lending transactions since 1995. Through Vestin Mortgage, Vestin Group manages three funds, Vestin Fund I, LLC, a mortgage fund, Vestin Fund II, LLC, a mortgage fund, and Vestin Fund III, LLC, a mortgage and real estate fund.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Vestin's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in Vestin's Annual Report or Form 10-K for the most recently ended fiscal year.