Matthew W. Fossen Named President of Viking Capital Group, Inc

Business Wire, March 6, 2001

Business Editors

DALLAS--(BUSINESS WIRE)--March 6, 2001

The board of directors at Viking Capital Group, Inc., (OTC:VGCP), has promoted Matthew W. Fossen to the post of president, effective March 1, 2001. Currently, Matthew Fossen holds the post of CFO, secretary and treasurer at the Company. The position of president was formerly held by William Fossen, who remains chairman and CEO of the Company.

During his four-year tenure at Viking, Matthew Fossen has been instrumental in the development of the Company's business plan, including an ongoing role in capital management and structuring deals between the corporation and strategic partners.

Matthew Fossen has brought to Viking his specialized financial reporting systems experience, gained from five years of senior-level experience at Texas Instruments. While there, he worked with the Company's operations in Tokyo, Nice, Dallas and Austin. Matthew Fossen also has experience in financial operations within the insurance industry. He earned his BBA degree from the University of Texas, Austin. He earned an MBA from the University of North Texas where he received the Outstanding MBA Candidate in Finance Award and the Financial Executive Institute Award.

William Fossen, father of Matthew Fossen, pointed out the key leadership characteristics that led to the board's decision. "Matthew's knowledge of applied information systems, coupled with his understanding of how to develop business relationships have been noted by the board. He has our support and our confidence that he will lead the Company to its stated goals for the benefit of all shareholders."

Matthew Fossen will continue in his roles as CFO, secretary and treasurer. His day-to-day financial reporting responsibilities will be transitioned to a comptroller. This position will be filled at a later date.

About Viking Capital Group, Inc.

Viking Capital Group, Inc. (Viking) is a an application service provider, third party life insurance administrator, acquirer of life insurance companies and strategic assets worldwide. Viking's financial services allow it to gain marketing channels for its fee income and life insurance products. Viking's trading symbol is VGCP and is traded in the OTC market. Additional information about Viking can be reviewed at their home page at www.vcgi.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release may contain certain "forward-looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995 and information relating to the Company and its subsidiaries that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. When used in this release, the words "anticipate," "believe," "estimate," "expect" and "intend" and words or phrases of similar import, as they relate to the Company or its subsidiaries or Company management, are intended to identify forward-looking statements. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, changes or anticipated changes in regulatory environments, competitive factors, general economic conditions, customer relations, relationships with vendors, the interest rate environment, governmental regulation and supervision, seasonality, distribution networks, product introductions and acceptance, technological change, changes in industry practices, onetime events and other factors described herein and in other press releases to the public or filings made by the company with the Securities and Exchange Commission, the ability to secure partnership or joint-venture relationships with other entities, the ability to raise additional capital to finance expansion, and the risks inherent in new product and service introductions and the entry into new geographic markets. Based upon changing conditions, should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. The Company does not intend to update these forward-looking statements. For further information which could cause actual results to differ from the Company's expectations, as well as other factors which could affect the Company's financial statements, please refer to the Company's report filed with the Securities and Exchange Commission.