SPRINGFIELD, Mo., Dec. 7 /PRNewswire-FirstCall/ -- Freedom Financial Group, Inc. (OTC Bulletin Board: FFGR) announced that it closed the sale of its loan portfolio for approximately $14.7 million on December 4, 2009, and used approximately $9.5 million of the sale proceeds to pay off its line of credit loan. The Company also announced that it filed a certificate of dissolution with the Delaware Secretary of State. The Company's stockholders approved these actions on November 30, 2009.

Pursuant to the Company's plan of dissolution and complete liquidation, the Company's outstanding shares have been cancelled and represent solely the right to receive any liquidating distributions the Company may make to its stockholders from time to time. The Company has directed its stock transfer agent to close its stock transfer books and has requested that its shares no longer be quoted on the Over The Counter Bulletin Board.

The Company's board of directors has authorized an initial liquidating distribution in the amount of $0.17 per share to be made to the Company's stockholders of record as of the close of business on December 14, 2009, which also will be the record date for any further liquidating distributions. The Company estimates that the total amount of liquidating distributions will be between $0.17 and $0.21 per share over a three year period.

Additionally, all of the Company's directors and officers have resigned, except that Vernon S. Schweigert will continue to serve as the Company's sole director and officer.

Cautionary statement regarding forward-looking information. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In particular, any statements that do not relate to historical or current facts constitute forward-looking statements, including any statements contained herein regarding our expectations regarding future liquidating distributions to our stockholders. Forward-looking statements are subject known and unknown risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance or achievements to differ materially from those projected or implied in such forward-looking statements. Factors that might affect actual results, performance or achievements include, among other things, the number and amount of claims against the Company that will need to be paid or reserved for in liquidation and the expenses of liquidation. The forward-looking statements are based on our beliefs, assumptions and expectations of our liquidation process, as of the date of this press release, taking into account information currently available to us. These beliefs, assumptions and expectations can change as a result of many possible events and factors, not all of which are known to us, including those events and factors detailed in our filings with the Securities and Exchange Commission. Neither we nor any other person assumes responsibility for the accuracy or completeness of these statements. We do not intend to update these forward-looking statements and undertake no duty to provide any update under any circumstances.

Freedom Financial Group, Inc.
3058 East Elm Street
Springfield, MO 65802
417-886-6600 x201

SOURCE Freedom Financial Group, Inc.

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