Summit Financial Services Announces Revenues and Earnings for 2007

BOCA RATON, Fla., March 31 /PRNewswire-FirstCall/-- Summit Financial
Services Group, Inc. (OTC Bulletin Board: SFNS) today announced its revenues
and net income for fiscal year 2007. For the year ended December 31, 2007, the
Company reported revenues of $37.54 million, a nearly 28% increase over the
$29.36 million in revenues reported for the year ended December 31, 2006. For
the 2007 period, net income increased by 140% to $1,488,654 from $619,250 for
2006. Basic and diluted earnings per share for 2007 were $.05 and $.04,
respectively, compared to basic and diluted earnings per share of $.02 for
2006.
Marshall Leeds, the Company's Chairman, Chief Executive Officer and
President, stated: "We are pleased with our improved results for 2007; these
improvements could not have been made without the support and commitment of
our financial advisors, their associates and our home office partners. The
aforementioned notwithstanding, we believe that the significant turmoil in the
financial markets during the first quarter of 2008, and related erosion of
investor confidence, may have a negative impact on our results for 2008. We
remain committed, however, to investing in the continuing development of our
network of financial advisors as part of our long term strategy for growing
our revenues and earnings."
The Company is a Florida-based financial services firm that provides a
broad range of securities brokerage and investment services, primarily to
individual investors. The Company currently offers its services through a
network of approximately 215 financial advisors, and its business plan is
focused primarily on increasing its network of affiliated financial advisors
by acquisitions, as well as by recruitment.
This press release may contain "forward-looking" statements, as defined in
the Private Securities Litigation Reform Act of 1995 or by the Securities and
Exchange Commission. Any such statements are made pursuant to the safe-harbor
provisions of Section 21E of the Securities Exchange Act of 1934 (as amended),
and they involve a number of risks and uncertainties that could cause actual
results to differ materially from those that may be anticipated by or from the
forward-looking statements. Important factors that could cause such a
difference are set forth in the Company's filings with the Securities and
Exchange Commission and include, but are not limited to, investor confidence
and the performance of the securities markets, and the availability of
suitable candidates for the Company's acquisition or recruitment.
SOURCE Summit Financial Services Group, Inc.

Steven C. Jacobs, CFO, Summit Financial Services Group, Inc., +1-561-338-2600