Wall St. Financial Begins Resort Development in Belize.

HONOLULU--(BUSINESS WIRE)--July 14, 1997--Wall Street Financial Corp. (WSF) (OTC BB:WSFI) announced today that a team of experienced urban planners has been hired to plan and develop the first-ever mixed-use destination resort in the country of Belize in Central America.

The resort will be at the corporation's Mayan Salt Creek Estate, a plantation of 31,423 ocean-front acres located less than ten miles north of Belize City and the country's international airport. A subsidiary of WSF, the Trust Corporation of Belize Limited, is the sole trustee and asset manager of the estate.

According to Gerhart W. Walch, chairman and chief executive officer of WSF, the team will consist of Kevin Connolly, who has most recently been a vice president with the New York City Economic Development Corp., and Deni Adaniya, a community planner with experience in both Hawaii and New York. Both will report to Antoine "Tony" Gedeon, chief operating officer for Mayan Resorts Development Co.

"Our goal in Belize," said Walch, "is to create a world-class ecological resort that will include the country's first golf course and five-star deluxe low-rise hotel, as well as both executive and affordable housing areas. We have the full support of the Belizian government, a conceptual drawing of the hotel by the renown architectural firm of Wimberly Allison Tong & Goo, and are well along in talks with a major international hotel group. With our planning team now in the country, we look forward to moving this project along much faster."

Walch also said that 20 two- and four-acre ocean-front residential lots have already been sold to investors, with more to soon be on the market. The lots are located near the proposed hotel site and will be developed simultaneously with the resort. They are the first increment of a retirement center that will eventually include a medical clinic and health complex. In addition, he said, the company has begun implementing a sustainable forestry management program, which includes the harvesting of a vast reserve of timber, much of it highly prized mahogony.

Connolly, who has a degree in urban planning from Columbia University, has been involved in a number of projects in New York City, including development of the LaGuardia Airport Ferry Terminal, the East 34th Street and Pier 76 Heliport projects and the 65th Street Railyard. Previously, he was a consultant to the Mexican government assisting with their national privatized toll road system.

Adaniya, a graduate of the University of Pennsylvania, has most recently been a Housing Development Project Manager with the East New York Urban Youth Corps, where she oversaw the construction of dozens of residential projects for low-income families. Prior to that, she did similar work with the Flatbush Development Corporation and Pratt Area Community Council in New York. Previously, she did field work in Guatemala.

WSF is inviting interested investors and/or developers to contact their corporate office in Honolulu for more information on the resort.

Belize is the only English speaking country in Central America and stretches for 200 miles along the great barrier reef in the Western Hemisphere at a latitude and tropical climate close to that of Hawaii. The country is served by both American and Continental Airlines and is only two hours away from major U.S. cities.

No visa is required, and the services available in the former British Protectorate are similar to those in other tropical vacation destinations. Belize is an independent country and a member of the British Commonwealth. The country's primary attractions are its rain forests, wildlife such as jaguars, one of the two best barrier reefs in the world and Mayan ruins that are more than 4,000 years old.

CONTACT: Wall Street Financial Corp.

Jim Boersema, 808/528-3159