UNCL Mru Holdings (MM)

Company's Landmark Securitization Reopens Private Student Loan ABS Market NEW YORK, July 14 /PRNewswire-FirstCall/ -- MRU Holdings, Inc. (NASDAQ:UNCL), a specialty finance company that provides private student loans through its consumer brand MyRichUncle(R) and its relationships with private label partners, today announced that on July 10th it closed its previously announced issuance of $140 million of asset-backed securities, backed by its private student loan portfolio. The securitization was composed of high quality direct-to-consumer private student loans that MRU originated, primarily in 2007 and early 2008, utilizing its proprietary underwriting criteria which overlays on top of traditional credit metrics a deeper analysis of the future income prospects and repayment capability of the borrower. The Company believes that this significantly differentiates its loan portfolio from that of its competitors. "We are pleased that we have closed this landmark transaction. Its success, in the wake of unprecedented market turbulence, demonstrates the strength of our business model and our commitment to providing families with the funds they will need for the upcoming peak student loan season," said Vishal Garg, Co-founder and Co-President of MRU Holdings, Inc. "We believe that the fact that we have demonstrated our ability to access term financing for our assets through the securitization market by selling AAA through BBB rated and unrated securities will help us expand our sources of liquidity and continue the growth of our business," said Jonathan Coblentz, Chief Financial Officer and Treasurer of MRU Holdings, Inc. The asset-backed securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. About MRU Holdings, Inc. MRU Holdings, Inc. (NASDAQ:UNCL) is a publicly traded specialty finance company that provides students with funds for higher education using a blend of current market credit practices as well as its own proprietary analytic models and decision tools. The Company has a renowned brand name "MyRichUncle(R)" and highly scalable origination infrastructure. The Company utilizes these assets to provide private student loans to students. MRU distinguishes itself from the competition as it does not take a "one-size fits all" approach to designing student loan products, allowing itself and its marketing partners to create a student loan offering that directly addresses their specific customer needs. Additional information concerning MRU Holdings is available at http://www.mruholdings.com/. About MyRichUncle From its inception in 2000, MyRichUncle has been at the forefront of innovation for education finance, most recently focusing on the growth market of student loans. Since the launch of its student loan program in the summer of 2005, MyRichUncle has originated over $450 million in student loans using its breakthrough underwriting platforms and innovative technology to deliver competitively priced products and services to borrowers. In May 2006, the Company launched Preprime(TM), the first and only student loan that allows students to qualify for loans based on individual merit, rather than credit history alone. Dedicated to reshaping the student loan industry to function in the best interests of the students, founders Vishal Garg and Raza Khan and their team are committed to delivering the most innovative solutions for their customers. The Company and its founders have been recognized by Fast Company's Fast 50 (2006) and listed among BusinessWeek.com's Tech's Best Young Entrepreneurs (2006). For more information, visit http://www.myrichuncle.com/. Safe Harbor Statement The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve risks and uncertainties that, if realized, could materially impair the Company's results of operations and/or its financial condition. These forward-looking statements may be affected by the risks and uncertainties inherent in the educational finance market and in the Company's business, as disclosed by the risk factors contained in the Company's annual report on Form 10-KSB for the fiscal year ended June 30, 2007, and subsequent quarterly reports on Form 10-Q. The Company cautions that certain important factors may have affected and could in the future affect the Company's beliefs and expectations, and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. The forward-looking statements contained herein are made as of the date hereof and the Company does not assume any obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances. UNCLF DATASOURCE: MRU Holdings, Inc. CONTACT: Karin Pellmann, Vice President Public Relations of MRU Holdings, Inc., +1-212-444-7541, Web site: http://www.myrichuncle.com/ http://www.mruholdings.com/

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