WNCG Wyncrest Group Inc New (CE)

PALOS PARK, Ill., May 24 /PRNewswire-FirstCall/ -- Wyncrest Group, Inc. (Pink Sheets: WNCG) is pleased to report on the financial performance of its growing financial services organization. In 2009, Southwest Financial Group, a wholly owned Wyncrest Group subsidiary, generated more than $7 million in revenue and increased gross profit by 9.9 percent.

Mr. William McFarland, Chairman of Wyncrest Group, commented: "In spite of difficult economic conditions that significantly impacted the global financial services industry in 2008-2009, Southwest Financial Group increased gross profit, decreased sales costs and generated sizeable revenue last year. The company reduced costs dramatically while maintaining strong customer performance levels. We implemented a strong shift to higher margin products and a move away from underperforming business segments and succeeded in increasing gross profits by 9.9% over last year. This has resulted in a leaner, more profitable organization with the flexibility to navigate through difficult times."

Mr. McFarland continued: "Wyncrest Group will continue to identify other profitable businesses and make strategic acquisitions in order to grow our top line. Looking forward we see conditions improving in the financial services industry and strong growth and increased revenues for our Company. We believe 2010 will be an excellent year for Wyncrest."

Southwest Financial Group is a trusted provider of insurance and financial products with more than 22,000 clients and 285 representatives nationwide. Based in McKinney, Texas, the wholly owned Wyncrest subsidiary has been in business for more than 15 years. Southwest Financial Group operates multiple divisions, expertly serving the Retirement Planning, Estate Planning, Life Insurance, Long Term Care Insurance, Mortgage Insurance, Employee Group Benefits, Sports Insurance, Student Insurance, Debt Reduction and Mortgage Purchasing & Refinancing needs of its customers.

For the year ended December 31st, 2009, Southwest Financial Group generated $7,008,307 in revenue and $1,191,835 in gross profit. Southwest Financial Group generated $11,767,363 in revenue and $1,083,696 in gross profit for the year ended December 31, 2008. While 2009 revenue decreased as a result of the global economic downturn and regulatory changes, Southwest Financial Group was able to dramatically reduce its cost of sales and increase profitability. By focusing on higher margin products, moving away from underperforming segments and lowering costs the Wyncrest subsidiary was able to increase gross profit by 9.9%.

Wyncrest Group's 2009 Annual Report can be read in its entirety at www.pinksheets.com.

About Wyncrest Group, Inc. (WNCG.PK)

Wyncrest Group, Inc. is a growing financial services organization. Wholly owned subsidiary Southwest Financial Group has been delivering trusted insurance products and financial services since 1988, serving more than 22,000 clients throughout the United States. By developing the growth potential within its existing businesses and acquiring companies with market share in lucrative financial segments Wyncrest Group is committed to increasing value for shareholders.

This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. WNCG has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions.

These statements reflect WNCG's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause WNCG's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. WNCG undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information catered in this press release including such forward-looking statements.

SOURCE Wyncrest Group, Inc.