Presidents Financial Corporation Appointment of Directors.

PHOENIX -- The Board of Directors of Presidents Financial Corporation (Pink Sheets:PZFL) is pleased to announce that Mr. John Gaetz will be assuming the position of President and Director of the Company from Carman Parente, who has stepped down from his position as President. Ms. Bren Tedder has also stepped down from her position as Secretary.

Along with this management change, the company will also be re-focusing on its core business model of mergers and acquisitions, with the initial acquisition being www.theusedcarlot.com, which has been completed and has attracted approximately 400,000 hits per month. The website is extremely user friendly and attractive to the eyes. Theusedcarlot.com is being developed and marketed to car dealers and individual car sellers as well as forums for used car buyers to "kick the tires" through a few clicks of the mouse.

Erwin Liem (Director, Chairman)-- Dr. Liem's specialty for the last 15 years is the business of mergers and acquisitions and as government project liaison officer in the capacity of project advisor in Costa Rica, Panama, Republic of China, Indonesia. He has represented companies in mergers and acquisitions, including financial institution diversification. Dr. Liem was a representative of a Russian bank for North America in 1993. Dr. Liem is acting in the capacity of Corporate Strategy Advisor to a number of companies located in Canada, USA, Indonesia, Hong Kong, Republic of China, Costa Rica, Panama. Dr. Liem holds an MBA and Ph.D. in Economics.

John Gaetz (Director & President) -- Mr. Gaetz, the founder of UV Technology Inc., brings over 35 years of experience in the manufacturing sector and a strong background in accounting and finance. He has held several senior level management positions in the past including the position of Executive Vice-President and Secretary of UVST, until its 100% acquisition by SVSY. Prior to UVST, Mr. Gaetz was responsible at various companies for financial administration, engineering, purchasing, production, product development, sales, labor relations, service, installation and quality control. Mr. Gaetz was Vice-President and Director of Administration for Harnischfeger Corporation where he was responsible for the manufacturing and development of naval defense equipment for the Navy of NATO.

Darrell Cho (Secretary) -- Mr. Cho is the Secretary for the Company, and his background is that he was the top salesman for Motorola Canada in charge of the West Coast. Mr. Cho has over twenty years in sales and advertising and fluent with all aspect of the marketing of the company. Mr. Cho is responsible for the structure and organization of the sales and marketing staff of the Company with www.theusedcarlot.com.

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.