Consumers Financial Signs Agreement for $5.2 Million Financing CEDARHURST, N.Y., Nov. 8 /PRNewswire-FirstCall/ -- Consumers Financial Corporation (OTC Pink Sheets: CFIN) ("CFIN") today announced that it has signed an Agreement to finance its acquisition of Fear & Fear, Inc., an insurance agency with ten offices located in and around Syracuse, New York. The Agreement signed was with Independent Financial Services, Inc. and Blue Light Capital Partners, LLC of Westerly, Rhode Island. Jack I. Ehrenhaus, Chairman of the Board, in announcing the contract signing for the purchase of the Fear & Fear Agency last month stated, "We are excited about the prospects that the acquisitions gives to Consumers Financial's bottom line. We fully believe that the Fear & Fear agency will be a great asset that not only will help our company to expand but also help to increase the value for our shareholders. Although the structure of the investment being arranged by these advisors has not been finalized, the exact form of the instrument will be tooled to match cash flow and capital needs for expanding the Fear & Fear insurance franchise." The project involves $5.2 million in equity and debt. The details of the placement are being negotiated. Fear & Fear operates ten office locations and one administrative office. The company specializes in automobile insurance and its service area covers most of central and northern New York State. CFIN expects that this acquisition will generate approximately $3 million in earned income from premiums and an EBITDA of over $1,350,000. Mr. Ehrenhaus further stated, "In addition to this financing commitment, we have also concluded an exchange of stock with a small private eBay auction site marketing group by the name of Subasta, Inc. While the current operations of this enterprise are relatively small, we recognize that eCommerce is a rapidly growing market and with our partnership with Subasta, we could create a great dividend for our shareholders. We were particularly impressed with Subasta's business platform and the capabilities of its management. The company operates with a very healthy profit margin and we feel it will continue to grow and add value to our business." This press release includes or may include certain statements, estimates and forward-looking projections of the company with respect to the anticipated future performance of the Company. Such statements, estimates and forward- looking projections reflect various assumptions of the management of the Company that may or may not prove to be correct and involve various risks and uncertainties including, but not limited to, the risk factors contained herein. 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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