Reliant Announces Letter to Shareholders

Business Wire, Oct 15, 2007

TORONTO -- Reliant Financial Service Corporation (OTCBB:RFNS - News), Steve Hamilton, Senior Vice President of Reliant Financial Service Corporation, ("Reliant") today released a letter recently sent to its shareholders.

Reliant Financial Service Corporation announced today that, consistent with its web site release dated October 11, 2007, it has filed a Form 15 with the Securities and Exchange Commission (the "SEC") to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and to suspend its obligation to file reports under Section 15(d) of the Exchange Act. The Company is eligible to deregister by filing a Form 15 because it has fewer than 300 holders of record of its common stock.

With the filing of the Form 15, the Company's obligation to file certain reports with the SEC, including Forms 10-K, 10-Q, and 8-K, has ceased. The Company anticipates that the deregistration of its common stock will become effective on or about December 12, 2007. The Company expects that its common stock will no longer be traded on the OTC Bulletin Board. The Company's common stock may be quoted on the Pink Sheets, but the Company gives no assurances that any broker will continue to make a market in its common stock.

Juels Loeb, Chairman and Chief Executive Officer, stated, "The board of directors unanimously concluded that it is in the best interests of the Company and its shareholders to voluntarily suspend its obligation to report. The substantial out of pocket costs, as well as the significant demands on management's time and focus, necessary to remain registered during our restructuring plans, outweigh the benefits the Company receives from maintaining its registered status at this time. By voluntarily suspending obligations to report, Reliant has more opportunity to restructure and obtain new financing opportunities to meet potential issues of an "ongoing concern" under the SEC reporting requirements."

The Company believes that by voluntary suspension, the Company has a better opportunity to refinance, relaunch and build an operational / profitable diverse mortgage company as required by the new sub prime market conditions with the Company's goal to move back to the OTCBB under a new SB2 filing as a fully operational and stronger Company with new diverse products and services.

The Company will continue to take positive steps to obtain shareholder value and welcomes all comment or suggestions from our investors.

About Reliant Financial Service Corporation

Formerly known as, Reliant Home Warranty Corporation (www.relianthwc.com) offers the sub-prime residential mortgage market High-Ratio to value mortgages that includes self-employed consumers and those with difficult credit. With the above announcement and enhancement, Reliant will be able to serve all segments of the mortgage market from prime, Alt A and sub-prime and will assist in retaining our over-all customer base. Reliant sells all mortgages to various financial sectors in the Canadian Market, once sold, no further obligation to Reliant exists.

About Reliant Home Mortgage Canada Inc.

For more information about Reliant Home Mortgage Canada Inc., visit the website at www.relianthomemortgage.com.

Safe Harbor

Certain statements contained in this press release contain forward-looking statements including without limitation, statements concerning our operations, economic performance, and financial condition. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "estimate," "believe," "expect," and "anticipate" and other similar expressions generally identify forward-looking statements, which speak only as of their dates.

Investors are cautioned that all forward-looking statements, which are based largely on our current expectations, involve risks and uncertainty. Actual results, events and circumstances (including future performance, results and trends) could differ materially from those set forth in such statements due to various factors, risks and uncertainties, including without limitation, risks associated with technological change, competitive factors and general economic conditions, changes in marketing and distribution strategies by manufacturers, continued shortages of new platform systems, difficulty in integrating and deriving synergies from acquisitions, potential undiscovered liabilities of companies that we acquire, changes in our business or growth strategy, the emergence of new or growing competitors, various other competitive and technological factors. There can be no assurance that the results referred to in the forward-looking statements contained in this release will occur. The Company has no duty and undertakes no obligation to update any forward-looking information, whether as a result of new information, future developments or otherwise.