PL Capital Announces Results of Synergy Financial Proxy Contest

CHATHAM, N.J., April 10  /PRNewswire/ -- PL Capital, LLC is pleased to announce its victory in the Synergy Financial Group, Inc. (NASDAQ:SYNF) proxy contest, based upon preliminary results released by IVS Associates, Inc. (IVS), the independent inspector of election hired by Synergy.  As a result, both of PL Capital's nominees, Daniel Spiegel and Daniel Eliades, are elected to the board of Synergy, along with Nancy Davis, one of Synergy's nominees. The PL Capital nominees received approximately 60% of the votes cast and 48% of the total outstanding shares.  The final certified results should be released by IVS later this week.

PL Capital principal Rich Lashley said, "We are very pleased that Synergy's outside shareholders overwhelmingly supported our candidates.  The margin of victory is a mandate from shareholders as it was achieved despite significant insider ownership by Synergy's benefit plans."  Director-elect Dan Spiegel added, "Dan Eliades and I look forward to working with Ms. Davis and the other directors of Synergy.  We plan to focus our efforts on enhancing Synergy's financial performance, improving Synergy's corporate governance and maximizing shareholder value for the benefit of all of Synergy's shareholders." 

DATASOURCE: PL Capital, LLC



CONTACT:  Rich Lashley, [phone], , or John W.

Palmer, [phone], , both of PL Capital, LLC

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