<RFGI>
Up over 4 (180%) on news of adding an inet trading site.
<edit: float is shown only to be 800k)
Rushmore Financial Group, Inc. Announces Internet
Day Trading Division, RushTrade.com
DALLAS, Feb. 10 /PRNewswire/ -- Rushmore Financial Group, Inc. (Nasdaq: RFGI - news), today announced the launch of
its Internet-based day trading division, RushTrade.com.
RushTrade.com, which can be accessed on the Internet at rushtrade.com, will operate as a division of Rushmore
Securities Corporation, a wholly-owned subsidiary of Rushmore Financial Group, Inc. RushTrade.com offers ''real-time''
Level II market data and a fast order entry system via the Internet, and its trades are cleared through Rushmore Securities'
correspondent clearing firm, Southwest Securities, Inc. (NYSE: SWS - news).
RushTrade.com differs from such online trading companies as AmeriTrade Holding Corp., Charles Schwab & Company,
E*Trade, and Siebert Financial, in that it is designed primarily for day traders. The day traders will have the option of working
at RushTrade.com's state-of-the-art trading center in Dallas, from one of the proposed satellite RushTrade centers, or from
their homes or offices via the Internet.
''RushTrade.com is the result of a six-month development project which has resulted in a Internet-based platform that will
attract the experienced day trader as well as the novice investor,'' stated Jim W. Clark, President of Rushmore Securities
Corporation. ''We are excited about the growth and profit potential of RushTrade.com, which reflects Rushmore's commitment
to superb service and technological innovation within the financial services industry.''
''The number of on-line investors in the marketplace currently exceeds 5 million and we believe it will increase to over 20
million by the Year 2002,'' commented D.M. Rusty Moore, Jr., Chief Executive Officer of Rushmore Financial Group, Inc.
''RushTrade.com will allow Rushmore Financial Group to become a significant player in the day-trading segment of the 21st
century brokerage arena, and we expect it to become a key profit center for our Company.''
Rushmore Financial Group, Inc. is a financial services holding company which provides, through its subsidiaries, a wide range
of investment and insurance services and products to its clients over the Internet and through a national distribution network of
securities representatives and insurance agents. Its investment services business consists of securities brokerage services, mutual
fund distribution, variable life insurance and annuity sales, fee-based advisory services, and other financial services. The
Company's insurance services business selects and markets a wide range of life, disability, accident and health insurance and
annuity products. In addition, the Company's life insurance subsidiary acquires and co-insures up to a 50% interest in policies
issued by primary insurance companies that have entered into modified co-insurance agreements with Rushmore Life Insurance
Company.
The Company is headquartered in Dallas, Texas and its common stock is traded on the Nasdaq small cap market under the
symbol ''RFGI''.
This press release includes statements which may constitute ''forward- looking'' statements, usually containing the words
''believe'', ''estimate'', ''project'', ''expect'' or similar expressions. These statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause
or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the
marketplace, competitive factors, changes in regulatory environments, and other risks detailed in the Company's periodic report
filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes
no obligation to update these statements for revisions or changes after the date of this release.
For further information, please contact:
Robert Hendren, Chief Financial Officer at (972) 450-6000
or
R. Jerry Falkner, CFA, Investor Relations Counsel at (800) 377-9893
SOURCE: Rushmore Financial Group, Inc. |
