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Non-Tech : NCFC - New Capital Funding Corporation

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From: jmhollen	6/13/2006 9:51:17 AM
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First Guardian Financial Corporation Board Moves to Further Reduce Outstanding Common Shares NEW YORK, Jun 13, 2006 (BUSINESS WIRE) -- First Guardian Financial Corporation (Pink Sheets: FGFC) today reported that during a specially called Board of Directors meeting that it has adopted a resolution on Monday, June 12, 2006, to further reduce the Company's outstanding shares of common stock by another 20 million shares. The reduction will be above and beyond the previously announced projected buyback plan of 25 million common shares as previously announced the plan calls for the company to pay up to 0.06 cents per share as the company believes in its future very strongly and at that level (the company believes) it is at least 40% below value (pre forward split levels). "This resolution reflects the commitment of First Guardian Financial Corporations management and Board of Directors to restore and build value for our current and future shareholders," commented Abraham Rosenman, President. "The company would like to reduce the common shares outstanding to no more than 15 to 20 million shares; in conjunction with its reduction plan, the company is also working diligently on obtaining audited financial statements for its desired move to the OTCBB," said Abraham Rosenman, President FGFC. About First Guardian Financial Corporation: The company is a Financial Holding Company currently providing Commercial Real Estate Financing & Invests for its own portfolio in small to mid sized businesses. Its primary goal is to provide short term financing within the commercial real estate market and invest and or provide secured short term financing to businesses either in the start up stage or growth stage throughout the United States. SOURCE: First Guardian Financial Corporation CONTACT: First Guardian Financial Corporation Investor Relations, 212-572-4823 Fax: 212-572-6499 ir@guardianfinancialcorp.com www.guardianfinancialcorp.com .

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