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LEGACY BENEFITS CONCLUDES $148,000,000 LIFE SETTLEMENT PORTFOLIO SALE TO INSTITUTIONAL INVESTOR

NEW YORK -- (BUSINESS WIRE ) -- July 17, 2007 -- Legacy Benefits Corporation (New York), a recognized leader and innovator in the life settlements industry, announces a secondary market sale of a life settlement portfolio totaling more than $148,000,000 in net death benefits.

Legacy Benefits originated the portfolio for the seller and was subsequently selected as the exclusive representative for the secondary sale transaction because of its in-depth experience in the field. The seller elected to place the portfolio out for bid to capitalize on its short-term appreciation. This is the fourth portfolio resale Legacy Benefits has managed. The portfolio represents one of several Legacy Benefits portfolio sales during the past two years.

"The sale of this portfolio reflects a growing recognition of the benefits of purchasing a ready-made life settlement policy block, rather than acquiring policies on an individual basis," said Meir Eliav, President of Legacy Benefits. He points out that originating a portfolio of quality life settlement assets demands significant time, expertise, and resources. When building a portfolio through single policy purchases, funds are committed without generating fully realized returns until the portfolio purchasing process is complete. Therefore, a quality policy block will generate a premium in the secondary market because it eliminates the longer aggregation process.

"Based on our 15 year history in the field, Legacy Benefits is now enjoying recognition for broad-based life settlement expertise that has grown to include complete management of portfolio sales in the growing secondary market," comments Eliav. "We are particularly pleased to have been selected for this recent transaction by a client based, in part, on its satisfaction with our original efforts in compiling the portfolio. Legacy Benefits is compiling a number of similar policy blocks that will be offered for sale in the future," Eliav adds.

About Legacy Benefits

A recognized leader in the life settlement industry, Legacy Benefits was a pioneer of this burgeoning specialty finance field more than 15 years ago and today maintains its reputation as an industry innovator. Since 1991, Legacy Benefits has specialized in the origination, servicing and management of life insurance assets for a broad range of institutional clients. It utilizes an ever-evolving array of sophisticated analytical tools and upholds the highest ethical standards when evaluating and acquiring life insurance policies for its institutional clientele. Legacy Benefits was founded by company president Meir Eliav, a 30-year financial services veteran, who was a founding member and past-president of the Life Insurance Settlement Association (LISA), the largest U.S. trade association in the industry.

In 2004, the Legacy Benefits became the first ever to originate a portfolio of life settlement assets for a securitization transaction rated A1/Baa3 rating by Moody's Investor Services. In 2006, Legacy Benefits received and reviewed life insurance policies covering 8,000 lives with a total face value of approximately U.S. $12 billion. Visit the company's website at www.legacybenefits.com.

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