Clarification of Remarks Regarding Golden Nugget Expansion Plans.

LAS VEGAS -- On the afternoon of Oct. 5, 2004, Poster Financial Group Inc.'s chairman and chief executive officer, Timothy Poster, spoke at the Global Gaming Expo (G2E) 2004 Gaming Conference. The presentation was hosted by Deutsche Bank in Las Vegas.

During such presentation, Poster spoke about the downtown Las Vegas market, including the possibility of an expansion at the Golden Nugget Las Vegas property.

Poster issued a statement Thursday to clarify certain of those remarks, stating:

Poster Financial is exploring opportunities for expansion and has had discussions with the city of Las Vegas and adjacent landowners in an effort to explore such opportunities. However, at this time, no commitments have been signed and no financing has been sought or entered into.

About Poster Financial

On Jan. 23, 2004, Poster Financial acquired the Golden Nugget Las Vegas and Golden Nugget Laughlin. Poster Financial is headquartered in Las Vegas and was founded in June 2003 by Timothy Poster, its current chairman and chief executive officer, and Thomas Breitling, its current president, secretary and treasurer.

Previously, Poster served as chairman and chief executive officer of Travelscape.com Inc., from March 1998 through March 2000. Breitling previously founded Breitling Ventures, an investment firm, and served as the president of Travelscape Inc. from March 2000 to December 2001. Since January 2003, Breitling has served as chairman and chief executive officer of Insomnia Entertainment, an independent film company. Poster and Breitling co-founded Travelscape.com and sold the company to Expedia in March 2000.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks. Such forward-looking statements include statements as to our anticipated financial performance; the impact of competition and current economic uncertainty; the sufficiency of funds to satisfy our cash requirements through the remainder of fiscal 2004 and beyond; opportunities for expansion and the ability to finance any such expansion and other statements containing words such as "believes," "anticipates," "estimates," "expects," "may," "intends" and words of similar import or statements of management's opinion. These forward-looking statements and assumptions involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause such differences include, but are not limited to, general economic conditions in the markets in which we operate, competition from other gaming operations, leverage, the inherent uncertainty and costs associated with litigation and governmental and regulatory investigations, licensing and other regulatory risks, the ability to enter into arrangements for expansion on suitable terms and the ability to finance any such expansion and other risks disclosed in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or persons acting on our behalf apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release. We undertake no obligation to update or revise forward-looking statements to reflect events or circumstances that may arise after the date of this press release, except as required by applicable law.