G8 Capital Closes 5th Acquisition of Distressed Mortgage Portfolios

LADERA RANCH, CA--(Marketwire - March 17, 2008) - G8 Capital, LLC announces today that it has closed its 5th loan pool acquisition since opening its doors a little more than 90 days ago. The company, which helps mortgage companies and financial institutions get fair wholesale value for their loans, acquires performing and non-performing loans and creates work-out situations for borrowers.

"In the current credit market we're finding that lender-initiated principal reductions, recommended as a possible solution to the upsurge in foreclosures by Federal Reserve chairman Ben Bernanke, make sense. Not only is it in the borrower's best interest, but it's in our best interest as the lender," stated Evan Gentry, founder and CEO of G8 Capital. "Equity is restored for the borrower, and potential resulting losses can be far less than the cost of foreclosure or selling the distressed loan. I would not want to see legislation on this, but I strongly encourage other lenders to selectively consider principal reductions, as it can be more economical than the alternatives."

G8 Capital has acquired distressed residential loan pools that have consisted of everything from performing loans, to non-performing loans, to REO properties.

"We have found that many sellers are under the gun to move the assets off their books quickly, and appreciate the speed by which we can operate," said Evan Gentry, founder and CEO of G8 Capital.

Based on the success of the first pools acquired, G8 Capital has also obtained additional capital commitments for future acquisitions. After closing its sixth acquisition scheduled for next week, the company will have closed nearly $40 million in portfolio acquisitions. The Company has new deals on the horizon and is seeking additional acquisition opportunities. G8 Capital is bidding on loan and REO portfolios worth between $3M and $30M, and is paying between 50 and 80 cents on the dollar depending on the portfolio characteristics.

G8 Capital is a key resource for secondary market, loss mitigation and asset managers looking to get fair wholesale value for their performing and non-performing loan portfolios, and REO portfolios. Once acquired, G8 Capital is working hands-on with borrowers to restructure or jointly create a work-out situation to allow homeowners to stay in their homes with more affordable payments.

G8 Capital was founded by Evan Gentry. Previously he was the CEO of MoneyLine Lending Services. After co-founding MoneyLine in 1996, Mr. Gentry led mortgage origination efforts for several dozen financial institutions for nearly a decade. Mr. Gentry led the growth of MoneyLine's outsourced services business to include 50 banks nationwide, and received recognition by Inc. Magazine's "Inc. 500 Fastest Growing Companies." He sold MoneyLine to Genpact, a spin-off of GE Capital, near the peak of the market in mid-2006.

About G8 Capital

G8 Capital, LLC (www.g8cap.com) buys distressed mortgage loan portfolios, as well as other performing and non-performing loans and real estate. G8 Capital acquires both residential and commercial mortgage portfolios/properties from mortgage companies and financial institutions that are liquidating assets and looking to get fair wholesale value. The Company is currently bidding on mortgage and REO portfolios that are worth between $3M and $30M.

Contact Information: Contact: Laurie Brooks Media Relations Coordinator 714-474-3770