LETTER OF INTENT (LOI)

[SPARK]

IFLH ...DALLAS, Apr 07, 2005, (A. M. Best via COMTEX) -- InterFinancial Holdings, a
Texas-based bank holding company, has acquired Drivers Protection Group, a Texas
insurance agency affiliated with Nationwide Insurance. The financial details of
the transaction weren't disclosed.

Once the acquisition is completed, InterFinancial (OTC:IFLH.PK) will be able to
offer automobile insurance to existing account holders. The company also will be
able to prepackage and bill insurance products at loan origination.

Drivers Protection Group is in the process of finalizing an auto dealer program
that includes roadside assistance, gap insurance, single interest,
auto-replacement warranty and other gap-type products.

InterFinancial was formed in March 2004 primarily to make acquisitions in the
financial industry. Its first acquisition was American Eagle Acceptance Corp., a
Texas-based company that provides indirect auto financing to dealerships in the
Southwestern United States. Last month, InterFinancial said it was looking to
acquire an insurance division that would enable it to write coverage on each of
its installment accounts.

Columbus, Ohio-based Nationwide Group is among the largest multiline insurers
and financial services companies in the United States. The group is engaged
though its subsidiaries in three core businesses: property and casualty
insurance, life and retirement savings, and asset management.

Nationwide Group has a financial strength rating of A+ (Superior) from A.M. Best
Co.

On the afternoon of April 7, InterFinancial's stock was trading at 7.1 cents a
share, down 45.38% from the previous close.


(By David Dankwa, associate editor, BestWeek: [e-mail])

David Dankwa

Copyright (C) 2005 by A. M. Best Company, Inc.

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