Transnational Announces Voluntary Delisting From American Stock Exchange

  
    
  
  
    
      Transnational Financial Network, Inc. (AMEX:TFN) announced today that it 
      had notified the American Stock Exchange that it intended to delist the 
      trading of its Common Stock from the American Stock Exchange.
    
    
      Joseph Kristul, Chief Executive Officer of the company said, “We 
      continue to believe that once the country’s 
      mortgage industry stabilizes, we will have a unique opportunity to 
      expand our market share with attractive margins. But the current 
      instability in the industry, which began to accelerate last fall, has 
      not shown signs of stabilizing. Until that stability is established, we 
      face substantial challenges in attaining profitability.” 
      Mr. Kristul noted that the liquidity from purchasers of mortgage loans 
      remains problematic with some former purchasers no longer buying any 
      mortgage loans and others repeatedly modifying lending programs and 
      lending standards, including those relating to non-subprime borrowers. 
      Loan originations remain at low levels.
    
    
      In the fall of 2006, the Company had submitted a plan to the Exchange to 
      be able to continue the listing of its Common Stock on the Exchange, 
      demonstrating a plan to return to profitability in fiscal 2008 and the 
      having the shareholders’ equity exceed 
      $2,000,000.
    
    
      Mr. Kristul said, “Because the problems 
      exacerbating the mortgage industry continue, we are less certain about 
      the timing of stability and recovery; the delay compounds our 
      substantial difficulties. Accordingly, we determined to delist our 
      Common Stock from the exchange.”
    
    
      Transnational Financial Network, Inc. is a wholesale and retail mortgage 
      banker that originates, funds, and sells mortgage loans secured by one 
      to four family residential properties. Through its strong sales and 
      broker service programs, the Company has built a foundation for growth 
      and expansion, principally in the markets of California, Texas, and 
      Arizona.
    
    
      This News Release may contain "forward-looking statements" within the 
      meaning of Section 27A of the Securities Act of 1933, and Section 21E of 
      the Securities Exchange Act of 1934. Although the Company believes that 
      the expectations reflected in such forward-looking statements are 
      reasonable, it can give no assurance that such expectations will prove 
      correct.