Press Release: Vestin Group Inc.
December 11, 2001
LAS VEGAS, NV -- Vestin Group Inc. (Nasdaq:VSTN) announced yesterday that it has raised $8,670,000 through the
private placement of Series A Convertible Preferred Stock (the ``Series A Preferred'').
The Series A Preferred was sold at $10 per share in an offering made directly by the Company to accredited investors.
The terms of the Series A Preferred are set forth in a Certificate of Designations of Rights, Preferences, Privileges
and Restrictions of Series A Convertible Preferred Stock filed with the Delaware Secretary of State on Nov. 26,
2001.
Lance Bradford, president and chief financial officer of the Company, stated, ``We are pleased with our success
in enhancing the Company's financial position through the sale of our Series A Preferred Stock. The additional
resources provided by the sale of this new class of preferred stock will enable the Company to continue its growth.''
Vestin Group Inc., through the Company's lending division, is one of the nation's largest private lenders. Its
subsidiary, Vestin Mortgage, is a Las Vegas-based commercial mortgage broker. Vestin Mortgage has facilitated more
than $530 million in the last three years in lending transactions. Through its subsidiary Vestin Mortgage, Vestin
Group manages two funds, Vestin Fund I, LLC, a $100 million mortgage fund, and Vestin Fund II, LLC, a $500 million
mortgage fund.
Certain statements contained herein are forward-looking statements that have been made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and
unknown risks and uncertainties that may cause the actual results in the future periods or plans for future periods
to differ materially from those described herein as anticipated, believed or estimated.
-------------------------------------------------------------
Contact:
Vestin Group Inc., Las Vegas
Lance Bradford, 702/227-0965
or
MassMedia/Vanguard
Paula Yakubik, 702/433-4331 (Media)
paula@massmedialv.com
or
Wells Group
Charles Cocuzza, 800/391-8882 (Investors)