Empire Financial Announces Option Exercise

Empire Financial Announces Option Exercise 


LONGWOOD, Fla., June 29  /PRNewswire-FirstCall/ -- Empire Financial Holding
Company (AMEX:EFH), a financial brokerage services firm serving retail and
institutional clients, is pleased to announce today that EFH Partners, LLC has
exercised its option to purchase 1,666,666 restricted shares of Empire's common
stock at an aggregate exercise price of $1,000,000.  As a result, EFH Partners
now owns 2,166,666 shares of Empire's common stock, preferred stock of Empire
convertible into an additional 1,166,666 shares of Empire's common stock and
options to acquire 1,050,000 shares of Empire's common stock from Empire's
former chief executive officer.

Empire's President, Donald A. Wojnowski Jr., stated, "The additional capital
received from EFH Partners will strengthen our balance sheet, improve our net
capital position and permit us to continue to implement our business plan."

About Empire Financial Holding Company

Empire Financial Holding Company, through its wholly owned subsidiary, Empire
Financial Group, Inc., provides full-service retail brokerage services through
its network of independently owned and operated offices and discount retail
securities brokerage via both the telephone and the Internet.  Through its
market-making and trading division, the Company offers securities order
execution services for unaffiliated broker dealers and makes markets in
domestic and international securities.  Empire Financial also provides turn-key
fee based investment advisory and registered investment advisor custodial
services through its wholly owned subsidiary, Empire Investment Advisors, Inc.

Forward-Looking Statement Disclaimer

This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995.  Such forward-looking
statements involve known and unknown risks, uncertainties or other factors
which may cause actual results, performance or achievements of the Company to
be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements.  Factors that might
cause such a difference include, without limitation, the ability of the Company
to continue as a going concern, fluctuations in the volume of transactional
services provided by the Company, competition with respect to financial
services commission rates, the effect of general economic and market
conditions, factors affecting the securities brokerage industry as well as
other risks and uncertainties detailed from time to time in the Company's
Securities and Exchange Commission filings.

   FOR FURTHER INFORMATION:

   At the Company:
   Donald A. Wojnowski Jr.
   President
   [phone]
   

   At Financial Relations Board:
   Lasse Glassen
   General Information
   [phone]
   

DATASOURCE: Empire Financial Holding Company



CONTACT:  Donald A. Wojnowski Jr., President of Empire Financial Holding

Company, [phone], ; or General

Information, Lasse Glassen of Financial Relations Board, [phone],

, for Empire Financial Holding Company

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