Shearson Financial Network, Inc. Opens Talks With Sterling Eagle/Warehouse One Re: JV

LAS VEGAS, NV -- (MARKET WIRE) -- April 24, 2007 -- Shearson Financial Network, Inc. (OTCBB: SFNN) www.sfnncorp.com announced today that it has opened discussions with Sterling Eagle www.sterlingeagle.com and its subsidiary, Warehouse One (Sterling) regarding a joint venture between the two companies. Sterling is in the business of providing warehouse banking credit lines to over 70 mortgage banking company customers with closed loan volume for 2006 in excess of $1.2 billion. Shearson Home Loans www.shearsonhomeloans.com operates a national mortgage branch network with licenses in over 30 states. The talks are aimed at utilizing Shearson's expertise in branch management to assist Sterling's customers to increase their mortgage banking activity by joining Shearson's branch network. The combined annual revenue of Sterling's customer base is approximately $300 million.

"This is an important first step in a business combination that both parties hope will have substantial benefits," stated Michael Barron, CEO and Chairman of Shearson Financial Network. "As we are able to assist Sterling Eagle with its client base, Shearson has a unique opportunity to present the Shearson operating record to Sterling's customers. Our hope is that many will choose to join the network because of this alliance."

Shearson Financial Network, Inc. reported net income of $2.8 million for the year ended December 31, 2006 and the company's operating unit, Shearson Home Loans, contributed $1.6 million to earnings. The value of Assets held by SFNN increased to $30.6 million for the year ended December 31, 2006 from $4.4 million in 2005, an increase of 590%. Net worth increased to $6.4 million from $(7.8) million during the same period, representing an increase of $14.2 million. Revenue from the originations of loans increased 25% or $1.7 million to $ 8.5 million Earnings per share for the year ended December 31, 2006 was $0.02 as compared to a loss per share of $0.50 from the year ended December 31, 2005.

About Shearson Financial Network, Inc.

The company is a consolidator of independent mortgage brokerages. Shearson operates 17,538 sq. ft. of branch office space licensed in 33 states. The company currently is seeking new branches for its growing network. For more information, please visit the company's website at www.shearsonfinancialnetwork.com, www.sfnncorp.com or www.shearsonhomeloans.com

Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs, and estimates as to projected results and market size are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company's SEC filings, and actual results could differ materially. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent of obligation to update these forward-looking statements.

Contact Information: CONTACT: Shearson Financial Network Las Vegas, Nevada. Michael Barron 702-868-7922