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LAS VEGAS, May 21, 2007 /PRNewswire-FirstCall via COMTEX/ -- Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com is pleased to announce that the international banking arrangements for its prepaid Visa card are now in place with a USA based issuer.

Esprit's Advanced Electronic Funds Management (AEFM) management team has completed setting up the banking relationships in the USA necessary to go live with its prepaid Visa Cash Now card. The website, located at www.cashnowcard.com is nearing completion, and currently operating in a Beta format. Even though the site is not live, it has been collecting debit card applicants' contact information from interested consumers. Marketing activities have been restricted to organic search engine placement. To date, Esprit has collected roughly 10,000 opt-in contact details from consumers interested in this product.

Esprit management has projected that the Cash Now Card division should be in a position to attract mid 5 figure to low 6 figure sign up rate (50,000 to 100,000 customers) within the next 18 to 24 months, once the site goes live, and sales and marketing programs are initiated. This product should, by our estimates, be capable of generating about 1.5 to 2 million dollars in revenue on an annualized basis at the end of this time frame. Importantly, customer life cycles average about 5.2 years according to industry experts. This creates a compounding monthly revenue stream as Esprit builds its base of cardholders over the next few years.

Jack Chang, head of Esprit's AEFM division, will be supervising the integration of the issuing bank's Internet enabled back office reporting software, working in concert with the UK processor, Credit Card Solutions UK (CCS). The Cash Now Card program should go live within the next 30-45 days. He also noted: "Esprit's service capabilities went through a due diligence process with our issuing International Banking suppliers. We have been given a green light, and can begin completion of the software interface and back-end reporting systems that will tie into our issuing bank's systems."

Demand for this type of International product is strong. Trends indicate the most sought after payment system applications worldwide are:

- Money Transfer (Remittance) - Payout (B2B & B2C) - Payroll

The international prepaid Visa card is a fully functional prepaid Visa card that can be issued to residents of most countries around the world (a similar MasterCard program will be available for U.S. citizens).

The Cash Now Card product features all of the normal benefits of a prepaid Visa card. The Esprit product will feature advanced capabilities that include:

- ATM withdrawals & POS purchases worldwide - Bill payments, signature-based purchases, mail order, telephone order and online purchases - Card-to-card transfer of funds - Payroll functionality for simplified payroll functionality where funds can be batch loaded electronically directly to employees with the Cash Now Visa Card. This is a major benefit for overseas workers and residents native to less developed countries where employees may not have full banking benefits. - Check Cashing - The cashed amounts can be put on the cards. This approach will minimize the amount and handling of cash at Cash Now licensees' storefronts. - Money Transfers - The recipients can be International Debit Card holders. Money can be card-to-card transferred via the senders' cards.

Esprit CEO Garr Winters added: "Our AEFM division continues to ramp up operations for our various International financial services on a fast track basis. We are ahead of schedule on a number of products and financial services, and will be able to launch sales and marketing initiatives for some products to bring revenues on stream, ahead of our initial third quarter of this year projections."

In other company news, Esprit Financial Group, Inc. is currently featured at Stock Guru, where a profile and other information may be obtained. To view the StockGuru.com Profile for Esprit Financial Group, Inc., please visit: http://www.stockguru.com/profiles/efgo .

In closing, Esprit CEO Garr Winters noted: "It has come to our attention that there are rumors circulating in the investment community about a possible reverse split of EFGO stock and an increase of the authorized share structure. I wish to take this opportunity to stress this point yet again, that there are no such plans to do any of this in the foreseeable future. We ask our stakeholders to please check with reliable and official source of information suppliers such as www.pinksheets.com and our corporate web sites or the town hall at www.cashnow.com/espritfinancialgroup . As previously announced we do have an agreement in principle with Jianxi (iexpay.cn) for a revenue sharing relationship and both sides have expressed interest for the Company to be acquired by Esprit. As Esprit had provisioned for this or similar purchases some time ago, there is no impact on the number of authorized shares, and any shares issued related to this acquisition will be in the form of restricted stock, and thus, will have no impact on trading until they are vested. This week we plan to complete our due diligence process of this acquisition and we will continue to report information in a prudent manner.