Debt Resolve Receives AMEX Deficiency Letter and Subsequent Plan Accepted; The Resolution Group to Fund $4.5 Million and Launch

  
    
  
  
    
      Debt Resolve, Inc. (AMEX: DRV) announced today that the American Stock 
      Exchange (AMEX) has accepted the plan submitted by the Company. Debt 
      Resolve and The Resolution Group (TRG) will implement the agreement 
      dated December 12, 2007, which provides for $4.5 million in funding, a 
      joint venture to institute a note-modification program and referral of 
      clients in the banking and healthcare industries.
    
    
      The Company submitted to the AMEX a detailed plan setting forth the 
      specifics of the funding and joint venture agreement with The Resolution 
      Group in response to a January 4, 2008 deficiency letter received from 
      the AMEX on January 7, 2008, alleging that the Company was not in 
      compliance with specific provisions of the AMEX continued listing 
      standards in that the Company is not in compliance with Section 
      1003(a)(iv) of the AMEX Company Guide. The Company’s 
      plan was accepted by the AMEX by letter dated January 10, 2008, 
      continuing the Company’s listing pursuant to 
      an extension. By implementation of the TRG agreement the Company intends 
      to be in full compliance no later than the end of the plan period, April 
      4, 2008.
    
    
      The Resolution Group has commenced funding in accordance with the 
      agreement and the parties intend to launch the note-modification program 
      from Debt Resolve’s First Performance facility 
      and from TRG offices in Irvine, CA on January 30, 2008.
    
    
      Debt Resolve will provide its subprime collection tool, DRDefault, 
      in combination with TRG’s mortgage servicing 
      system, to allow homeowners to cure a default and prevent foreclosure. 
      TRG will also provide the sales, marketing and administrative staff and 
      supervision from a center to be located at the First Performance (a Debt 
      Resolve subsidiary) facility in Las Vegas, NV and in Irvine, CA.
    
    
      TRG specializes in providing consulting, market strategy and planning to 
      the mortgage industry and healthcare community primarily based on the 
      West Coast. The principals at TRG have longstanding relationships at the 
      high executive level within the mortgage, banking and healthcare 
      industries. TRG agrees to refer clients in the healthcare and banking 
      industries to Debt Resolve, pursuant to a finder’s 
      agreement dated December 11, 2007.
    
    
      About Debt Resolve, Inc.
    
    
      Debt Resolve provides lenders, collection agencies, debt buyers and 
      utilities with a patent-based online bidding system for the resolution 
      and settlement of consumer debt and a collections and skip tracing 
      solution that is effective at every stage of collection and recovery. 
      Through its subsidiary, First Performance Corporation, the Company is 
      actively engaged in operating a collection agency for the benefit of its 
      clients, which include banks, finance companies and purchasers of 
      distressed accounts receivable. The stock of Debt Resolve is traded on 
      the American Stock Exchange. Debt Resolve is headquartered in White 
      Plains, New York. For more information, please visit the website at www.debtresolve.com.
    
    
      About The Resolution Group, Inc.
    
    
      The Resolution Group, Inc., (TRG), is a private California corporation 
      formed to help delinquent consumers resolve their debts with creditors 
      and negotiate home loan modifications. The company, located in Newport 
      Beach, California, specializes in providing consulting, market strategy 
      and planning to the mortgage, banking and healthcare industries. The 
      principals of The Resolution Group have longstanding relationships at 
      high executive levels within the mortgage, banking and healthcare 
      communities. For more information, please visit the website at http://onlinedebtresolution.com.
    
    
      Forward-Looking Statements and Disclaimer
    
    
      Certain statements in this press release and elsewhere by management of 
      the Company that are neither reported financial results nor other 
      historical information are “forward-looking 
      statements” within the meaning of the Private 
      Securities Litigation Reform Act of 1995. Such information includes, 
      without limitation, the business outlook, assessment of market 
      conditions, anticipated financial and operating results, strategies, 
      future plans, contingencies and contemplated transactions of the 
      Company. Such forward-looking statements are not guarantees of future 
      performance and are subject to known and unknown risks, uncertainties 
      and other factors which may cause or contribute to actual results of the 
      Company’s operations, or the performance or 
      achievements of the Company, or industry results, to differ materially 
      from those expressed or implied by the forward-looking statements. In 
      addition to any such risks, uncertainties and other factors discussed 
      elsewhere in this press release, risks, uncertainties and other factors 
      that could cause or contribute to actual results differing materially 
      from those expressed or implied by the forward-looking statements 
      include, but are not limited to, events or circumstances which affect 
      the ability of Debt Resolve to realize improvements in operating 
      earnings expected from the acquisition of First Performance; competitive 
      pricing for the Company’s products and 
      services; fluctuations in demand for the Company’s 
      products or services; changes to economic growth in the United States 
      and international economies; government policies and regulations, 
      including, but not limited to those affecting the collection of consumer 
      debt; adverse results in current or future litigation; currency 
      movements; and other risk factors discussed in the Company’s 
      Annual Report on Form 10-KSB for the year ended December 31, 2006, and 
      in other filings made from time to time with the SEC. Debt Resolve 
      undertakes no obligation to publicly update any forward-looking 
      statement, whether as a result of new information, future events or 
      otherwise. Investors are advised, however, to consult any further 
      disclosures made on related subjects in the Company’s 
      reports filed with the SEC.