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First Guardian Financial Corporation Has Executed the Contract for the Previously Announced Proposed/Joint Venture Acquisition of a 50 Acre Parcel in Canada
Tuesday June 27, 9:03 am ET

NEW YORK--(BUSINESS WIRE)--June 27, 2006--First Guardian Financial Corporation (Pink Sheets: FGFC - News) today announced that they have executed the contract to acquire the previously announced 50 acre parcel in Woodstock, Ontario Canada.


The acquisition is a joint venture between FGFC and a yet to be named Canadian Corporation (FGFC will be the majority partner) with a scheduled closing date of or before December 19, 2006. The contract provides a sixty day window for the company (FGFC) to perform due diligence and certain feasibility studies as to the proper zoning, use and the best economics for the property.

"The company and management believe this to be a very sound investment objective, as the property is located in a very desirable location within a town that has shown a desire for growth within reason as exhibited by the recent decision of the Toyota Motor Company's new facility in Woodstock, this investment/joint venture is very exciting for our company and it is our desire to participate within this very friendly city and its remarkable community growth accordingly," said Abraham Rosenman, President of First Guardian Financial Corporation.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.


Contact:

First Guardian Financial Corporation
Investor Relations, 212-572-4823
Fax: [phone]
[e-mail]
www.guardianfinancialcorp.com

Source: First Guardian Financial Corporation