First Capital Executes Agreement With Dalian City Commercial Bank of China
Thursday January 11, 3:07 pm ET

WEST PALM BEACH, Fla., Jan. 11 /PRNewswire/ -- First Capital, a leading financial services firm, announced today the execution of an agreement between Dalian City Commercial Bank of Dalian, China and First Capital Financial Services Asia, Limited, the Hong Kong subsidiary of First Capital. Through this agreement, Dalian City Commercial Bank will obtain access to new commercial finance products and services, including Accounts Receivable financing programs, as well as technical support in the integration of these programs into the bank's commercial loan platform.

"This agreement is a significant component in our business plan to become an offshore outsource provider of infrastructure support services to Asian banks and finance sector companies," said Van Carter, President of First Capital's Hong Kong subsidiary.

"In order to meet the growing demand for working capital by Chinese manufacturers and exporters, our bank needs to understand and implement Accounts Receivable financing and related services," commented Mr. Liu Guokun, the assistant to the chief of Dalian City Commercial Bank. "We are very excited about this opportunity and the extraordinary benefits that this will bring to our bank and to our clients."

Implementation will commence in January 2007. In February, First Capital will host a twelve-person contingency from Dalian City Commercial Bank that will tour the US facilities of First Capital, discuss operational and logistical procedures and commence the training process.

About First Capital

First Capital is a leading financial services firm providing prompt, professional and reliable working capital solutions for middle market companies and institutions. Founded in 1987, the firm focuses on Traditional Factoring, Asset-Based Lending and Discount Factoring for clients in North America and Asia with financing needs from $35,000 to $250 million. The firm also manages asset portfolios for clients and is an active issuer of receivables-backed securities. Combining a unique blend of old and new banking methods, First Capital provides clients with the proper support needed to grow and maintain their business. Based out of West Palm Beach, Florida, the firm has six full service offices in major cities including New York, Los Angeles, Ft. Lauderdale, Oklahoma City and Atlanta and a subsidiary that is headquartered in Hong Kong.