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To: J. Nelson who wrote (1222)	2/6/1999 7:34:00 PM
From: Dave Chan	Read Replies (1) \| Respond to of 1530

FMFK - Get ready for the move up from 3 to ???. Undiscovered internet brokerage stock. Check it out. Friday February 5, 12:49 pm Eastern Time Company Press Release First Montauk Financial Appoints Seth Rosen President of Century Discount Securities Rosen to Lead Internet Initiative RED BANK, NJ--(BUSINESS WIRE)--February 5, 1999--First Montauk Financial Corp. (OTC BB: FMFK - news) today announced the appointment of Seth Rosen as President, Century Discount Securities (CDS), a division of First Montauk Securities Corp. Mr. Rosen will be responsible for expanding the existing operations of CDS into the area of on-line trading via the internet. Mr. Rosen will also focus on the integration of on-line technology for the Company's network of 400 independent full-service financial professionals servicing 35,000 clients. Mr. Rosen brings over 15 years of industry experience to First Montauk. Prior to joining First Montauk, he was an internet advisor and consultant to several Wall Street firms. Mr. Rosen was a founding Managing Director of Sherwood's National Discount Brokers, NDB.com (NYSE:NDB - news) where he was responsible for three customer order entry systems, 140 live brokers, the integrated voice response system (IVR), and the internet site. He also directed the routing of NDB's 7000+ orders a day. Previously, Mr. Rosen was Chief Operating Officer at a NYSE specialist book. Mr. Rosen holds Series 7, 14, 24 and 27 licenses, and has been an active arbitrator with the NASD. He is a graduate of Tufts University and a veteran of the United States Marine Corps. He resides in Monmouth County, New Jersey with his wife and two sons. Herb Kurinsky, President of First Montauk, said, ''We are excited that Seth has joined the First Montauk team. His strong technological background and knowledge of Wall Street will be a significant asset to the Company as we expand our on-line services.'' All forward-looking information are estimates by the Company's management and are subject to various risks and uncertainties that may cause results to differ from management's current expectations. All parties receiving this release are encouraged to review all filings made by the Company with the Securities and Exchange Commission. First Montauk Financial is the parent company of First Montauk Securities Corp., a full-service broker dealer, Century Discount Securities, its discount division, and Montauk Insurance Services, Inc., an insurance agency. The Company, headquartered in Red Bank, New Jersey services approximately 35,000 retail and institutional accounts. First Montauk's ability to offer quality support services, in-house and third party research, advanced networked information systems and competitive commission has attracted over 400 independent, professional registered representatives across the country. Contact: First Montauk Financial Corp. William Kurinsky, EVP & CFO Phone: (732) 842-4700 Email: bkurinsk@firstmontauk.com or First Montauk Securities Corp. Katy Paul Shareholder Relations Phone: (732) 842-4700, extension 220 Email: katyp@firstmontauk.com Web: www.firstmontauk.com