Presidents Financial Enters Agreement with PBC Inc.


RENO, Nev., Feb. 13, 2007 (PRIME NEWSWIRE) -- Presidents Financial Corp, a Nevada corporation (Other OTC:PZFC), has entered into an agreement to acquire all issued and outstanding stock of PBC, Inc., a Wyoming corporation, in exchange for 23,350,000 new shares of Presidents Financial Corp common stock.

PBC, Inc. and its operating company PharmaNutrients Botanical Corporation compete in the Natural Health and Nutraceutical Industry and offer a wide range of quality assured bulk ingredients, scientifically researched molecules and cutting-edge technologies that target the fields of performance, longevity, immunity, oral chelation and therapeutic applications. For information on PBC's operating company, PharmaNutrients Botanical Corporation, please go to www.pharmanutrients.ca

The agreement was closed on February 5, 2007. Additional key provisions of the parties' agreement include the following:

* PBC, Inc.'s current CEO, Mr. Wayne Hachie will be appointed to the Presidents Financial Corp board and subsequently as CEO of the Company;

* Mr. Darrell Cho will be the Secretary and Director of the Company; and

* Subject to complete closing of the Agreements, Presidents Financial Corp will change its name to "PBC, Inc." in order to better reflect its new business plan.

Safe Harbor Statement

This release includes forward-looking Statements. Statements contained in this Release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested may be identified from time to time. The Company does not undertake any obligations to update forward-looking statements made by it. This new release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company.


            

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