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First Financial Enters Into Multi-Million Dollar Senior Credit Facility

Atlanta, GA – March 30, 2008 – First Financial Asset Management (FFAM), headquartered in Atlanta, announced today that it has entered into a multi-million dollar senior credit facility agreement with a senior bank lender located in Chicago, Ill.

The facility will be specifically used by the Company to acquire portfolios of charged-off assets. Under the general terms of the facility agreement,. line of credit will carry a 12 Month Revolving period with interest calculated at a floating rate against Prime, that will subsequently be converted to a 4 year term loan at a fixed rate against Prime. Other details of the Loan could not be disclosed at this time.

One of the individuals responsible for the negotiation and securing the Senior Credit Facility was Matthew Maloney, the Company’s Executive Vice President. He commented, "Our management team has worked very diligently at transforming our financing structure for portfolio purchasing to more of an on-balance sheet structure. It is exciting to be able to construct such a substantial senior credit facility with such great people at this banking institution located in Chicago." Maloney added, "the structure of this senior credit facility will allow us to reduce our cost of capital by almost 50%, thus creating substantial opportunity for enhanced profit margins on our investments into the distressed assets that we specialize in acquiring and managing.”

Maloney further commented, "this transaction is a testament to the diligent work and effort contributed by my fellow peers and team members towards the goal of transitioning our business into a growth mode for value-investing. 2008 is shaping up to be a banner year for our Company"

About First Financial Asset Management
First Financial Asset Management, Inc. (FFAM) and the First Financial Group of Companies are a U.S.-based accounts receivable management firm providing strategic outsourcing services and portfolio acquisition and sale services of distressed and non-performing credit intensive assets emanating from the risk management industry.

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