FinCo

123 Madeup Street

Bala Cynwyd, PA 00123
For Immediate Release:
Contact:
September 23, 2009
Stacey Favocci
(609) 219-2113
(732) 947-0852

FinCo Brings New Cards to the Table

BALA CYNWYD, P.A. – Proudly announcing the agreement of expansion, FinCo

will be acquiring its competitor and the two companies will merge as one to offer
more extensive financial options, a spokesperson said yesterday.

FinCo and its main competitor, a smaller, private company, Financial

Boutique, have agreed to come together as one to offer more services to clients.
FinCo, a Fortune 1000 company, will take on the task of dealing with all types of
mortgages, including for the first time those that focus on affordable housing
finance. President and CEO, Bill Smith, is enthusiastic about the acquisition.

“I’m excited to get the ball rolling with Financial Boutique,” Smith said. “The
two companies together are moving in the right direction. Our clients are truly going
to benefit from this change.”

Jack Collins, the current CEO of Financial Boutique, will retire when the
acquisition is made. Despite his leaving, the 600 Financial Boutique employees will
remain and add to the current 2,500 FinCo employees after the change. All offices
of both companies, seven in total, will remain open in the foreseeable future.

After the companies are integrated, Financial Boutique will take charge as
FinCo’s Affordable Housing Division due to their years of experience in the specific
field. Financial Boutique’s current Vice President, Margaret Jones, will run this
division and work with Smith.

“I am eager to head this new department and show FinCo what we do,” Jones
said. “I’ve had 25 years of experience in this field and ten in my position at Financial
Boutique; I’m excited to see where this new adventure will take us.”

In 2007, Financial Boutique’s profits were $100 million while FinCo’s were
$500 million. Together, the company can bring efficiency, effectiveness, and profit
to greater levels.

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