Albert Reda Resigns From Any and All Positions in 1st Global Financial Corporation - Company Takes Further Actions

LONDON, Dec. 5, 2011 /PRNewswire/ -- 1st Global Financial Corporation (OTC: FGBF) announces  today that, in light of the charges filed against Albert Reda, the Company has accepted Mr. Reda's resignation.  All corporate documents that were in Mr. Reda's possession are in the process of being delivered  to other corporate officers.  The remaining management team believes this to be an isolated transaction that occurred without the knowledge of any other officers and/or directors of 1st Global Financial Corporation.  Additional controls and procedures are being implemented before any further transactions with the company can be taken.

The following actions are being taken immediately and will remain in effect during the pendency of the charges against Mr. Reda.  1st Global has put a stop order on any and all shares held by Mr. Reda and any of his affiliated companies and or entities.  Additionally, any loans or debt on the books of 1st Global for Mr. Reda or those entities will also be eliminated and not honored by the Company.  

John Bannister, President of FGBF, stated, "The mere fact that the allegations have been lodged against Mr. Reda is troublesome and has caused the company to reevaluate certain of its internal controls and procedures and, at least for the immediate future, I will be reviewing all transactions and will have sole signature authority for the company for any non day-to-day activities.  We are hopeful that the actions taken by the Securities and Exchange Commission do not have a chilling effect on the many exciting things we are working on." 

We are executing our business plan and on this DHS investment, we have actually turned a 150% profit on capital, based on an annualized rate of return," concluded Mr. Banister.

About 1st Global Financial Corporation  
1st Global  Financial Corporation (OTC:  FGBF) is creating strategic partnerships with individual and institutional owners of property portfolios in  Ireland, the United  Kingdom, Europe, USA  and the Caribbean to finance the acquisition of those portfolios. 1st Global Financial Corporation has selected a range of properties including hotels, commercial retail and office, and leisure developments to provide a comprehensive income generation to facilitate  growth in the Corporation.  1st Global intends to present to the investment community at all levels an opportunity to participate in solid property asset acquisition with steady income projection. The Corporation plans to issue a series of asset backed bonds in this financial year and has begun the confidential negotiations with book-runners and institutional investment managers in Europe, China, and the Middle East to facilitate that intention.  For additional information about 1st Global Financial Corporation please visit our website, www.1stglobalfinancialcorp.com

Safe Harbor Statement
This update includes forward-looking statements. These forward-looking statements generally can be identified by  phrases such as 1st Global  Financial Corporation or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. 

Please send inquires to 1st Global Financial Corporation via email at [email protected] or via phone: 702-448-1861 

SOURCE 1st Global Financial Corporation