Press Releases

LOS ANGELES--(BUSINESS WIRE)-- Saehan Bancorp (OTCBB: SAEB) today announced it has signed a Memorandum of Understanding with Hana Financial Group, based in Seoul, South Korea, for the sale of newly issued shares of common stock and a 51 percent ownership position on a fully diluted basis upon its proposed completion.

The transaction is subject to appropriate U.S. and Korean regulatory approvals, the execution of a stock purchase agreement and related due diligence.

“The proposed transaction will enable Saehan to further strengthen its financial position and provide the Korean American community with diversified financial products and services available through our strategic partnership with Hana Financial,” said Dong Soo Han, chairman of Saehan Bancorp.

Han noted that the proposed relationship with Hana Financial will enhance Saehan’s focus on upgrading its risk management systems, such as credit scoring systems, as well as support private banking and relationship manager programs. “We anticipate that the partnership will contribute to further corporate social responsibility activities in the U.S., such as the establishment of a foundation and financial education programs for second and third generation Korean Americans,” Han said. He highlighted Hana Financial’s successful financial executive program established in 2006 with Jilin University and Bank of Jilin in China.

“Our proposed investment in Saehan complements a focus on expanding our organization’s global presence, particularly within the U.S. banking community, and participating in the consolidation of financial institutions in this important market,” said Seung Yu Kim, chairman of Hana Financial Group.

Kim noted that Hana Financial Group recently completed the acquisition of Korean Exchange Bank, which, prior to a divestiture in 2004 of Pacific Union Bank, operated in the U.S. market. “Our proposed investment in Saehan will allow Hana Financial to regain a presence in the U.S. and leverage extensive overseas networks to create new business opportunities through Korean Exchange Bank’s business networks in 22 countries across the world,” Kim said.

He noted that Hana Financial has been particularly successful in leveraging global business opportunities in Asia through its subsidiaries in China and Indonesia, and is fully committed to playing a major role in providing diversified financial services to Korea–U.S. trade business – supported by the Korea-U.S. Foreign Trade Act that will take effect in March.

About Saehan Bancorp

Saehan Bancorp is a bank holding company with headquarters in Los Angeles, California. Its wholly owned subsidiary, Saehan Bank, offers a comprehensive range of financial solutions to meet the needs of multi-ethnic communities in the U.S. Saehan Bancorp is committed to satisfying customers and creating shareholder value. Its ten retail branch offices, International Department, and SBA Department of Saehan Bank focus on fulfilling these commitments to customers and shareholders.

Saehan BancorpDaniel Kim, 213-388-5550Executive Vice President and Chief Financial OfficerorHana Financial GroupYung Ryul (Mike) Ko, 82-2-3709-6387

Source: Saehan Bancorp

NEW YORK, NY -- (MARKET WIRE) -- 02/10/12 -- On January 20, 2012, Assa Properties, owner of Cassa Hotel and Residences, located at 70 West 45th Street, announced that the hotel portion of the property was sold to the HNA Property Holdings, a company headquartered in Beijing, for approximately $130 million. In April 2010, the hotel had entered into a binding contract with HNA for the sale. Cassa's ideal location for both business and leisure travelers, just 1 block from Times Square, combined with consistently high occupancy levels, presented an extraordinary opportunity for HNA to enter into the market. HNA has appointed the Viceroy Hotel Group, a hotel management company, to oversee hotel operations and manage the property under their Urban Retreat portfolio. Available for sale or rent, the 57 luxury Cassa residences remain wholly owned by Assa Properties. Under the new hotel management agreement, the residential owners and extended stay guests will benefit from the hotel's amenities and services.

The transaction included Assa Properties' right to retain the Cassa name brand and the company's latest project, Cassa - Times Square, is located in Manhattan's Midtown West. "The sale of the hotel portion of Cassa is on target with our original business plan. We will continue to source new development projects here in New York City, and remain attentive to opportunities in international markets," says Solly Assa, CEO of Assa Properties.

HNA Property Holdings (Group) Company Ltd. is one of eight subordinate businesses under HNA Group, China's fourth largest air group and one of the Top 500 Chinese Companies. In addition, HNA Tourism has become a leader in the tourism industry, operating 12 subsidiary companies from travel agencies to airlines, hotels to car rentals, and conventions to exhibitions.

About Assa Properties

Founded by Solly and Isaac Assa, Assa Properties has been developing and investing in major residential, retail and commercial properties since 2000. The firm has acquired over three million square-feet of premier assets located throughout the United States and Mexico. Starting in 2002, Assa Properties began acquiring buildings within the New York City Area, namely 743 Fifth Avenue, 2 Herald Square and 6 Times Square -- originally the Knickerbocker Hotel built by John Jacob Astor -- with an eye towards building luxury retail and hotel experiences in some of the New York City's most distinctive neighborhoods. They have since evolved their original vision with two developments: Cassa Hotel and Residences in midtown Manhattan, and Cassa Times Square, located in Manhattan's Midtown West. Each project represents full-service luxury hotels and condominiums offering premium hotel services to their full-time residents.

About Viceroy Hotel Group

Viceroy Hotel Group delivers one-of-a-kind lifestyle experiences that bring together provocative design and intuitive service in sought-after locations. Signature brand amenities and services created for the diverse business and leisure guests include dynamic dining venues featuring world-class culinary talents and destination spas specializing in health, fitness and beauty. Current properties include hotels and resorts in Abu Dhabi, Anguilla, Beverly Hills, Miami, Palm Springs, Riviera Maya, Santa Monica, Snowmass, St. Lucia and Zihuatanejo with forthcoming openings in Beverly Hills (in what is currently L'Ermitage Beverly Hills), the Maldives and Bodrum, Turkey.

Contact:
Ms. Kathleen Duda
Managing Director
KVD Communications
Phone: (646) 723-4338 x0
E-Mail: kathleen@kvdcom.com

Source: Assa Properties

LAS VEGAS, NEVADA -- (MARKET WIRE) -- 02/10/12 -- At RocketAlerts we specialize in picking out winners like North Springs Resources Corp. (NSRS), and we've had our Multi-Vector High Volume Predictor on this firecracker from the get go. Since the end of December this skyrocket stock has traded over half a billion shares all the while increasing its share price and making a legion of shareholders very happy. This week however this very promising rocket's journey was struck by a major meteor shower. This morning the stock is attempting to re-ignite its engines and regain altitude. Whether or not this effort succeeds remains to be seen but even more important to the average investor is to know how to avoid getting broadsided by this type of financial storm in the future.

At RocketAlerts we are keenly aware that even the most reliable hot stocks can suddenly change direction leaving some shareholders stranded on a financial desert island. Our mission is to supply our subscribers with the optimum entry and exit points to avoid the ever present danger of financial loss. RocketAlerts utilizes the most up-to-date trajectory and vector extrapolation models to predict the behavior and course of today's hottest stocks. With our ground-breaking proprietary Movement Behavior Precursor Analysis you will feel like you are truly in control of your destiny. To see how you can optimize your profits with our absolutely FREE Newsletter please visit our website: RocketAlerts.com.

At RocketAlerts we realize that most investors can succeed if they have the right tools in their investment belt. We also know that without the latest technology to give you the edge you will always finish out of the money. Why risk being left out in the cold? To get our FREE newsletter please visit us at: RocketAlerts.com.

- RocketAlerts.com Disclosure -

RocketAlerts.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. RocketAlerts.com is a wholly owned entity of a financial public relations firm. Please read our report and visit our website, RocketAlerts.com, for complete risks and disclosures.

Contacts:
RocketAlerts.com
Editor
800-495-9870
contact@rocketalerts.com
www.RocketAlerts.com

Source: RocketAlerts.com