Consumers Financial Announces Growth and Development Goals; Plans OTC Bulletin Board Listing CEDARHURST, N.Y., Aug. 9 /PRNewswire-FirstCall/ -- Consumers Financial Corporation (OTC Pink Sheets: CFIN) ("CFIN") today announced that it has completed its strategic business plan and its corporate reorganization and is in position to move forward. Jack I. Ehrenhaus, Chairman of the Board, stated, "Since the time that President Donald J. Hommel and I took control of CFIN, we have been busy looking for strong acquisitions and cleaning up regulatory matters. We plan to file for an OTC Bulletin Board listing later this month and expect some major announcements in the near future." Mr. Ehrenhaus further stated, "CFIN has been reorganized to operate as an investment holding company with financing operations. Our objective is to acquire, through investment, interest in companies where there is a solid business model, strong management and financing opportunities. If successful, we will add to the company's portfolio businesses that have solid profit margins, unique technology and growth potential that will materially benefit from modest infusion of capital or credit facilities. We will rely upon Mr. Hommel and my substantial business experience and network of resources to find, acquire, finance and manage businesses that we believe will add value to shareholder holdings. We believe we have a unique space in the business mix because we can and will move into ownership position with small companies before they appear on the radar screen for larger companies in the acquisition mode." CFIN is a 40-year-old financial lending organization that was substantially dissolved when previous management reached retirement age. Ehrenhaus and Hommel took control with a mission to acquire companies where management is exceptional, products are proprietary, profit margins are above average, and where these companies can benefit from CFIN's financial assistance, either through equity or credit facilities. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This press release includes certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on Consumer Financial's management's current expectations and are subject to risks and uncertainties and changes in circumstances. All forward-looking statements included in this press release are based upon information available to Consumers Financial as of the date of the press release, and it assumes no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise. Further information on the risks that could affect Consumer Financial's results of operations is detailed in its filings with the United States Securities and Exchange Commission, including the Annual Report for the year ended December 31, 2003. DATASOURCE: Consumers Financial Corporation CONTACT: Howard A. Scala, President, Wall Street Communications, Inc., +1-800-338-9338, for Consumers Financial Corporation

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