1st Metropolitan Offers Choice in Compensation Plans; Company Empowers Managers to Control Income Calculation

Business Wire, April 28, 2004

Business Editors

FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--April 28, 2004

1st Metropolitan Mortgage, a national mortgage broker and a division of Empire Equity Group, Inc., announced during its annual meeting here that it will offer a choice of two compensation plans to its branch managers. These plans will give managers the opportunity to select the plan that best fits the needs and dynamics of their office.

By implementing FlexChoice, 1st Metropolitan is offering another option for its managers to maximize profitability and income. Branch managers will be able to determine branch income based on funded loan volume, or the current method of payment, which is based on a percentage of the gross revenue generated by the branch.

The new commission structure will be available to new branches and existing branches will have the option of switching plans as well. Company management plans to have FlexChoice completely rolled out by the end of the summer.

"We want to give our branch managers the choice of how they manage their success," said Daniel Jacobs, 1st Metropolitan's COO. "FlexChoice will allow them to feel empowered and in control of their destiny and they will, in turn, work harder to be reach their own goals."

By offering FlexChoice, Jacobs said 1st Metropolitan has shown that it will continue to make a commitment to giving its employees the best opportunities to garner success.

About 1st Metropolitan Mortgage

1st Metropolitan Mortgage, headquartered in Charlotte, N.C. and a division of Empire Equity Group since 2002, is a national mortgage brokerage, offering products from such lenders as Wells Fargo Home Mortgage, Countrywide Home Mortgage and Chase Manhattan Mortgage. The company is licensed in 48 states with approximately 250 branches nationwide. Leveraging the 20 years of experience of its parent company, 1st Metropolitan has an aggressive business development strategy. 1st Metropolitan's strategic theme for 2004 is The Art of Being 1st: Opportunities Amid Change. For more information, visit www.1stmetro.com.

About Empire Equity Group, Inc.

Empire Equity Group has been in business since 1983 focusing heavily in the Northeastern United States. Since the acquisition of 1st Metropolitan, Empire has established development programs for branch managers, additional infrastructure to meet the needs of branches and installed the latest technology, such as an expanded intranet site and an innovative online loan origination system. For more information, call 704.552.0123.