July 24, 2009 Media Contact
ECG/ CHNRM /20090101-1 Jeff Mustard
EurOrient Financial Group
MEDIA ANNOUNCEMENT 818-206-5322
jeff.mustard@eurorient.org

Allegations Denied! Mr. Ron Nechemia the Chairman of the Board of Governors of the
EurOrient Financial Group to Contest Claims Alleged in California Dept. of Corporations
“Cease and Refrain Order”

Los Angeles, California, July 24, 2009 - On March 23rd, 2009, the California Department of Corporations posted a “Desist and Refrain
Order” containing allegations for Violations of California Corporations Code Sections 25110 and 25401 (the "Order").

Allegations denied

“We are contesting the legal view point of the State of California Department of Corporation that these securities that we have
offered or sold were not ‘qualified or exempt’ from registration with accordance to the law and required authorization from the
State to offer and sell these securities in this State of California,” says Mr. Ron Nechemia, the founder and Chairman of the
Board of Governors of the EurOrient Financial Group (“EurOrient”) and he added “We have retained legal counsel to address
this disagreement and wrongful enforcement action of the law by the State.”
Retained legal counsel on behalf of EurOrient Financial Group is addressing the matter with the California Department of Corporations.
At this time, EurOrient officials have been advised that the offering and sale of the Notes is qualified and exempt from registration
according to Section 25110 of the CSL pursuant to Section 25102(f) of the CSL.

EurOrient Financial Group to contest and to reject these wrongful allegations claim according the following points of law: (a) the total
number of Notes issued by the EurOrient is in compliance with the exception prevision of the law, (b) all the Notes were sold and offered
exclusively to an "accredited investor" within the meaning of the rules of the U.S. Securities and Exchange Commission and the rules
promulgated under the CSL, (ii) had a preexisting personal or business relationship with EurOrient Financial Group or Mr. Nechemia or
(iii) by reason of such investor's business or financial experience could be reasonably assumed by EurOrient Financial Group and Mr.
Nechemia to have the capacity to protect such investor's own interests in connection with such investor's purchase of such investor's Note
from EurOrient Financial Group and Mr. Nechemia and (c) the other provisions of Section 25102(f) of the CSL were complied with by
EurOrient Financial Group and Mr. Nechemia, (other than their failure to file a Notice of Transaction with the Commissioner of
Corporations, which failure does not affect the availability of such exemption under the express provisions of Section 25102(f) of the CSL).

As to the wrongful allegations set forth in the Order, it will become evident during the coming months leading up to the hearing and if
need be during following legal presiding that no misleading statements, or omissions, of any material facts were made to investor, Lou
Juaneza, the President of Westhoff Studios, of Torrance, California who has made these fraudulent claims. Specifically Mr. Nechemia
denies ever having made a statement to Lou Juaneza that she had to invest by a certain date in order to comply with the Securities and
Exchange Commission "Reg. D" filing. Mr. Nechemia pointing out “The fact of the matter is that the Note implicitly and explicitly stated that
“THE SECURITIES EVIDENCED HEREBY AND ISSUABLE PURSUANT TO THIS NOTE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY APPLICABLE STATE
SECURITIES LAWS (“BLUE SKY LAWS”)OR THE SECURITY LAWS OF ANY OTHER COUNTRY OR
JURISDICTION,” this is a false and hollow accusation that is simply unproveable, which unfortunately still requires our having to
address.”

Deception claims

“The Order” contains three allegations, they are as follows:

1. Beginning in or around May 2008, EurOrient Financial Group (the “EurOrient”) and Mr. Ron Nechemia offered and sold
securities in the form of convertible promissory notes that were to be converted into member units in a holding company. Mr.
Nechemia and EurOrient stated that the investment would be used to develop a natural gas project, and that investment returns
could be as much as 25%.
 2. These securities were offered or sold in this state in an issuer transaction. The Department of Corporations has not issued a
permit or other form of qualification authorizing any person to offer and sell these securities in this state.
3. In connection with this offer, Mr. Nechemia and EurOrient Financial Group included untrue statements of a material fact,
including that the investor had to invest by a certain date in order to comply with the Respondent’s “Reg D” filing with the
Securities and Exchange Commission (the “SEC”). In fact, Respondent had not filed anything with the SEC.

Furthermore, the Order alleges that such Notes were sold by means of written and oral communications which included untrue statements
of one or more material facts or omitted to state one or more material facts necessary in order to make the statements made, in light of
the circumstances under which they were made, not misleading, all in violation of Section 25401 of the CSL.

More specifically, the Order alleges that EurOrient Financial Group and Mr. Nechemia told the complaining investor that such investor
had to invest by a certain date in order for EurOrient and Mr. Nechemia to file a "Reg. D" offering with the Securities and Exchange
Commission.

THE CEASE AND REFRAIN ORDER BASICALLY INSTRUCTS THE EURORIENT FINANCIAL GROUP AND MR.
NECHEMIA NOT TO ISSUE AND SELL CONVERTIBLE PROMISSORY NOTES ("NOTES") TO INVESTORS IN
CALIFORNIA WITHOUT SUCH SECURITIES BEING ‘QUALIFIED OR EXEMPT’ ACCORDING TO THE
PROVISIONS OF SECTION 25110 OF THE CALIFORNIA CORPORATE SECURITIES LAW OF 1968, AS AMENDED
(THE "CSL") AND NOTHING FURTHER.

The Treasury Board of the EurOrient Financial Group has added the following statement: “We understand that during these economic and
difficult financial time investors may seek a return of their invested funds and might choose to employ any tactic necessary even if it means
filing fraudulent charges that also impugn a person’s character and integrity.”

The hearing with respect to the property of the Order is currently set to be heard on October 23, 2009

About EurOrient

EurOrient Financial Group is a private sector global development finance institution accredited financial institution by United Nations
General Assembly on Financing for Development. The mission of the EurOrient Financial Group is to support the economic and social
development efforts of the less developed countries as they, in particular, seek to achieve the Millennium Development Goals ("MDGs").
The EurOrient's principal objective is to reducing poverty and promoting sustainable economic growth. EurOrient invests in projects and
programs that promote social development, build human capacities, and address host government priorities for investments in physical
infrastructure that promote and enhance social development. These projects include roads, transportation and communication systems,
water, sanitation and other types of investments with social development outcomes such as improved quality of life and increased human
knowledge and skills.

More detailed information can be found on the EurOrient’s website: http://www.eurorient.org/

EURORIENT FINANCIAL GROUP EXTERNAL RELATIONS DEPARTMENT

Public Affairs Media Relations

Phone: 818-990-5080 Phone: 818-206-5322
Fax: 818-990-5566 Fax: 818-990-5566
Email media.center@eurorient.org