PRESS RELEASE:

The Magnifund Group Appoints Jay Lacny as its Chief Strategy Officer

| From
mortgage technology platform

SAN MARCOS, Calif., Aug. 30 (SEND2PRESS NEWSWIRE) -- The MagniFund Group is pleased to announce the addition of Jay Lacny to its organization, as its Chief Strategy Officer. This is an important advancement in the company's desire to aid customers and clients in meeting all of their financial needs and continuing our strategy of becoming one of the West Coast's largest lenders.

Jay Lacny will benefit from the stability of being part of one of the fastest growing lenders in the West and our capabilities as a correspondent lender.

The MagniFund Group (www.magnifundgroup.com) also has a leading mortgage technology platform, a well known brand in home lending, and management expertise in a number of key areas.

Jay Lacny will gain greater scale in originating and servicing mortgages in the West. The MagniFund Group had millions in mortgage originations in 2009.

"The Magnifund Group presents a rare opportunity for us to add what we believe is the best mortgage platform to affirm our position as the West Coast's premier lender to consumers," The Magnifund Group's Chief Executive Officer Robert Ianniciello said.

"We are aware of the issues within the housing and mortgage industries," Ianniciello continued. "Mortgages will continue to be an important relationship product, and we now will have an opportunity to better serve our customers and to enhance future profitability."

"I believe this is the right decision for our employees and me," said Jay Lacny. "The MagniFund Group is one of the fastest growing lenders in the West and we are confident that the combination of my background and MagniFund will create one of the most powerful mortgage companies around.

About The MagniFund Group:

The MagniFund Group is one of the fastest growing banking platforms in the West, serving individual consumers and investors. The company provides unmatched convenience in the West with approximately 100 employees as of June 2010. The MagniFund Group is a leader in mortgage banking technology with proprietary systems used to seamlessly follow a customer through the entire loan cycle. Clients can search properties through www.realtor.com and learn more about the company at www.magnifundgroup.com .

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