MRU Holdings, Inc. Pauses Origination of Student Loans

NEW YORK, Sept. 5 /PRNewswire-FirstCall/ -- MRU Holdings, Inc.
(Nasdaq: UNCL) is pausing the origination of private student loans, available
through its MyRichUncle(R) website, www.myrichuncle.com, and its private label
partners, effective today.
"The decision to pause our student loan program is the result of
unprecedented and continued disruptions in the capital markets," said
Co-founder and Co-president Raza Khan. "We hope to resume originations soon,
but we are compelled to pause at this time as we are reaching funding capacity
limits, due to continued demand. To address this, we are working closely with
a number of financial institutions to try to obtain funds that would enable us
to continue to accept new customers. While we regret that we will have to
pause receiving new applications, we continue to work with our existing
families in 2008," said Mr. Khan.
He added, "Despite the tightened credit environment, it's important that
parents and students remember education is perhaps the most worthwhile
investment they can make. Accordingly, they should continue to be vigilant
about searching for grants and scholarships, lower-cost federal student loans
and other cost-effective sources of money for school. Our website continues
to offer guidance and information, as well as suggestions for where to go to
find lenders. We advise parents to do all the research they can to fully
understand the terms and costs of a loan before borrowing, and to borrow not
more than is necessary and as cheaply as possible."
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.
SOURCE MRU Holdings, Inc.

Karin Pellmann, MRU Holdings, Inc., +1-212-444-7541,
kpellmann@mruholdings.com