National Investment Managers Inc. Announces Woodside Capital Partners to Increase...

National Investment Managers Inc. Announces Woodside Capital Partners to Increase Its Holding

Woodside to Buy Stake Held by Lehman Brothers

NIVM Expects Record Year, Revenues Up Approximately 20%, Earnings
up 50%
DUBLIN, Ohio--(Business Wire)--
National Investment Managers Inc. (OTC BB: NIVM), a
nationally-based and regionally-operated company, today announced that
Woodside Capital Partners has purchased the Note and Warrants that
Lehman Brothers held in National Investment Managers.

In December 2007, Lehman participated in a $27 million debt
package, whereby Lehman and Woodside Capital Partners each offered
National Investment Managers $6 million in subordinated debt, while
Citizens Bank provided $15 million in senior debt. As part of a
funding agreement, National Investment Managers issued Lehman and
Woodside each Warrants to purchase an aggregate 5,742,789, 3,828,527
and 1,914,262 shares of common stock at $0.50, $1.00 and $1.50 per
share, respectively. When Woodside acquires Lehman's stake, it will
hold warrants to purchase 11,485,578 shares of National Investment
Managers' stock. This is approximately 12% of the Company.

Daphne Firth of Woodside Capital Partners said, "We are doubling
the size of our stake in National Investment Managers by purchasing
the Note and Warrants held by Lehman Brothers. We are doing so because
we are very satisfied with the growth that NIVM has shown over the
past several quarters."

Steve Ross, CEO of National Investment Managers, said, "We are
very gratified to receive this vote of confidence from Woodside
Capital, especially in the current uncertain financial markets. We
continue to explore acquisitions in the retirement plan administration
and investment management arena, and we anticipate that we expect
continued financial growth in the coming months.

Since signing the financing with Woodside, Lehman and Citizens
Bank, last December, we have executed four significant acquisitions:
California Investment Annuity Sales, Kanter & Associates, Pension
Technical Services (Reptech) and Alaska Pension Services. Despite the
poor conditions on Wall Street, we expect our revenues to be about $43
million - up 20% year over year. EBIDTA SBC, which we believe is an
important measure of our earnings growth, will approach $10 million in
2008, an increase of about 50%."

About National Investment Managers Inc.

National Investment Managers Inc. is a holding company and a
consolidator of pension plan administration, investment management and
insurance businesses. Its strategy includes a custom-tailored
acquisition formula for each acquired business, which allows local and
regional entities to retain their autonomy while benefiting from the
reach that a national presence offers. In addition, the Company's
approach offers entrepreneurs in these businesses an exit strategy
suited to their specific needs. National Investment Managers targets
businesses with stable cash flows and high operating margins to ensure
successful integration of operations once a sale is concluded.
Acquired companies continue to operate under their own brands, usually
with minimal staff turnover to ensure that relationships of many
years' standing are not disrupted. At the same time, these formerly
small businesses can cross-sell related financial services under the
National Investment Managers umbrella and enjoy administrative and
other support from around the country.

The member firms of National Investment Managers provide pension
administration services, retirement planning, defined benefit
services, asset preservation, investment and insurance services.
Wholly-owned subsidiaries of National Investment Managers are based in
Anchorage, AK; Marina Del Rey, CA; Denver, CO; Southington, CT
Jacksonville, FL; Orlando, FL; Baltimore, MD; North Attleboro, MA;
Cherry Hill, NJ; Haddonfield, NJ; New York City, NY; White Plains, NY;
Bend, OR; Portland, OR; Harrisburg, PA; Horsham, PA; Wayne, PA;
Providence, RI; Houston, TX; and Seattle, WA. NIVM's corporate
headquarters are located in Dublin, OH.

Note: This press release contains statements that are considered
forward-looking under the Private Securities Litigation Reform Act of
1995, including statements about the Company's future prospects. They
are based on the Company's current expectations and are subject to a
number of uncertainties and risks, and actual results may differ
materially. The uncertainties and risks include whether the Company is
able to raise capital, identify and complete acquisitions, integrate
the acquired businesses, improve upon the operations of the acquired
business units and generate cash and profits. Further information
about these and other relevant risks and uncertainties may be found in
the Company's filings with the Securities and Exchange Commission.

National Investment Managers Incorporated
Steven J. Ross, CEO, 614-923-8822
or
Porter LeVay & Rose, Inc.
Marlon Nurse, 212-564-4700
VP - Investor Relations
FAX: 212-244-3075
www.plrinvest.com
plrmail@plrinvest.com

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