LAS VEGAS, Jan. 31, 2005 (PRIMEZONE) -- Vestin Group Inc. (Nasdaq:VSTN) today announced that it has received notification from Nasdaq stating that the company's common shares will be delisted from The Nasdaq SmallCap Market effective at the opening of business on February 3, 2005. Nasdaq said the deslisting is based upon its staff's determination that Vestin does not meet the minimum publicly held shares required for continued inclusion in the SmallCap Market.
Vestin said an application has been filed to include its common shares for quotation on the OTC Bulletin Board. It said that no assurance can be given, but the application seeks to have those common shares approved for quotation on the Bulletin Board by February 2, 2005.
About Vestin Group
Vestin Group, Inc., through its subsidiaries, is engaged in asset management, real estate lending, and other financial services. Its subsidiary, Vestin Mortgage, has facilitated more than $1.5 billion in lending transactions since 1995. Through Vestin Mortgage, Vestin Group manages three funds, Vestin Fund I, LLC, Vestin Fund II, LLC, and Vestin Fund III, LLC. These Funds have assets in the aggregate of approximately $500 million.