UNCL Mru Holdings (MM)

The Rosen Law Firm today announced that it has filed a class action lawsuit on behalf of all purchasers of MRU Holdings, Inc. ("MRU" or the "Company") (PINKSHEETS: UNCLQ) formerly (NASDAQ: UNCL) securities during the period between July 9, 2007 and September 18, 2008, inclusive (the "Class Period").

To join the MRU class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action. The case is pending in the U.S. District Court for the Southern District of New York. You can obtain a copy of the Complaint by contacting us or visiting our website.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

The Complaint alleges that certain of MRU's officers and directors violated sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing materially false statements to the marketplace concerning MRU's business and financial results. In particular, it alleges that defendants failed to disclose that (a) the market for Auction Rate Securities, which the Company issued in its first student loan securitization, was illiquid and existed at the whim of broker-dealers; (b) the illusion of liquidity created by the broker-dealers allowed MRU to securitize its student loans on favorable terms; (c) that once the true nature of the ARS market became known, the terms of future securitizations by the Company would not be favorable to the Company; and (d) that without the favorable terms available in the ARS market as a result of manipulation by the broker-dealers, the Company would not have sufficient capital to originate loans, making the Company's business model untenable.

A class action lawsuit has already been filed on behalf of MRU shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than June 19, 2009. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.

The Rosen Law Firm focuses on prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors around the globe.

Contact: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm P.A. Tel: (212) 686-1060 Weekends Tel: (917) 797-4425 Toll Free: 1-866--767-3653 Fax: (212) 202-3827 350 5th Avenue, Suite 5508 New York, New York 10118 Email Contact Email Contact www.rosenlegal.com