Platinum Funding Group Receives Additional Funding from JPMorgan Chase and N M Rothschild & Sons

Platinum Funding Group announced today that JPMorgan Chase and N M Rothschild & Sons have joined forces in June 2006 to step up Platinum?s financing capacity. The two leading banks combined their financial resources to support Platinum?s growth and expansion.

?This is a very significant step in the expansion strategy of Platinum Funding Group? said Eyal Levy, Platinum?s founder and CEO. ?This new funding by two major financial institutions will give Platinum the ability to support larger deals and serve its customers in the most efficient way. Platinum will be able to partake in more complex, multipart transactions? added Levy.

Chase has been providing Platinum Funding Group with a credit facility and a revolving line of credit for more than 10 years. Back in October 2005, Rothschild extended a short term loan to Platinum Funding Group. ?Based on very good results and excellent relationship with Platinum Funding Group, we have decided to replace the short term loan with a long term funding arrangement.? said Glenn Beatham, Managing Director at Rothschild UK from his London office. ?We expect to see expansion in the factoring market over the next few years and believe that with such strong financial backing, Platinum Funding Group will capture a large share of this growing market? he noted. ?Rothschild is pleased to work with Platinum as they make the most of the market opportunities available to them? commented Beatham.

Rothschild USA?s Senior Partner Jewelle Bickford was very active in the completion of the deal. ?We have followed Eyal Levy and Platinum Funding Group for a number of years and we are very impressed with his ability to market the services of the company? said Bickford. ?We felt it was the right timing to offer Platinum more financial capability? she added. ?Platinum Funding Group has reached a new milestone? Bickford concluded.

With the new financing from JPMorgan Chase & N M Rothschild & Sons, Platinum will be able to originate and participate in highly structured domestic & international factoring transactions.

Platinum Funding Group provides its clients with accounts receivable funding, letters of credit, bridge funding, and accounts receivable management.