HUNTINGTON BEACH, Calif., Feb. 26, 2002 (PRIMEZONE) -- James E. Shipley, President of EMB Corporation (OTCBB:EMBI) (Berlin:EMBI. BE), (Frankfurt:EMBI.F) and (Hamburg:EMBI.H) today announced that its wholly owned subsidiary, First Guaranty Financial Corporation, had a record month for January 2002 that exceeded projections in originations, fundings, revenues and profits. First Guaranty Financial Corporation, http://www.fgflend.com, headquartered in Santa Ana, California, is a multi-state wholesale mortgage lender that has a winning strategy in the vastly competitive field of mortgage banking.
Rod Thompson, President of First Guaranty stated, "After a record year in all sectors of our mortgage business, we are pleased to report that total fundings for January 2002 of $48 million were 82.5% greater than January of 2001. We have also renewed our primary warehousing credit facility of $50 million, which enables us to comfortably close up to $75 - $80 million of residential mortgages per month. Our goals for 2002 are $650 million in closed loans, and to continue to expand our net profit to gross revenue ratio over last year's strong profits."
James Shipley, President of EMB added, "EMB's formula for success is in place, and our strategy is to continue to assist FGFC with national growth, advertising and increased technology through additional acquisitions, and or mergers, that are presently in negotiations or under review."
The Company also announced that it has released an updated version of its Website with many new features at http://www.embcorp.net and http://www.embcorporation.com. Mr. Shipley noted, "I would encourage everyone that is interested in EMB Corporation to visit our new website. We have a great new look with several new features. It is interesting to note that we have had in excess of 133,000 visitors to our site since August 19, 2001, for an average of approximately 25,000 per month."
EMB Corporation recently reported earnings of $0.02 per share for Fiscal 2001, in addition to a $2,000,000 equity financing agreement with Paramount Financial Group.
To request an investor kit for EMB Corporation, please call Justin Keener at (650) 292-1585, or email EMBI@EquityBroadcast.com.
About EMB Corporation
EMB Corporation is a financial services holding company, which provides a network to mortgage brokers, both retail and wholesale, through our wholly owned mortgage companies, currently including American National Mortgage and First Guaranty Financial Corporation. Mortgages originated by our group of companies may be held temporarily for investment, or may be sold to third parties/financial institutions, or may be secured, packaged and sold as mortgage backed securities. For further information about the Company please look at our Website, http://www.embcorp.net or http://www.embcorporation.com.
A number of statements referenced in this Release are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumption of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may, "could" or "might" occur. Such statements reflect the current views of EMB Corporation with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company does not undertake any responsibility to update the "forward-looking" statements contained in this news release. This is not an offer to sell or a solicitation of an offer to purchase any securities.