EMB Corporation (EMBI)

[Scrooge McDuck]

NEWS......NEWS

EMB CORPORATION ANNOUNCES RECORD REVENUES AND EARNINGS FOR SUBSIDIARY FIRST GUARANTY FINANCIAL

Huntington Beach, CA - January 28, 2002 - James E. Shipley, President of EMB Corporation (OTCBB: EMBI) (Berlin: EMBI. BE), (Frankfurt: EMBI.F), and (Hamburg: EMBI.H) announced today that its wholly owned subsidiary, First Guaranty Financial Corporation, had a record year for 2001 that exceeded projections in originations, fundings, revenues and profits. First Guaranty Financial Corporation, (http://www.fgflend.com), headquartered in Santa Ana, California, is a multi-state wholesale mortgage lender that has a winning strategy in the vastly competitive field of mortgage banking.

Mr. Rod Thompson, President of First Guaranty said, “After a record year of over $540 million in funded loan production, applications exceeding 3000 originated, and underwritten, record revenues in excess of $9 million and profitable, First Guaranty saw consistent growing demands for its mortgage products in all sectors. This represents more than a 224% increase over calendar year 2000.” Mr. Thompson went on to say, “We hit both ends of the housing spectrum as our products are very centered in the purchase market place. However, one of the keys to our success is the Super Jumbo Loans we offer up to $4.0 million on custom homes. We have seen a very broad demand for our interest only products tied to the Libor index. Our goals for 2002 is to fund $650 million and continue to expand our net profit to gross revenue ratio over last year’s strong profits. We have added some new key personnel and expect demand for our mortgage products to remain robust throughout 2002.”

James Shipley, President of EMB said, “We are very proud of the excellent job Mr. Thompson and all those associated with First Guaranty have done, and continue to do.” Mr. Shipley went on to say; “Technology for valuation of property, underwriting automation, and the entry of foreign capital into the U.S. markets will continue to provide an environment where well managed mortgage lenders can thrive. EMB’s formula for success is in place, and our strategy is to continue to assist FGFC with national growth, advertising, and increased technology through additional acquisitions, and or mergers, that are presently in negotiations or under review.”