David W. Biegler and Edward R. McPherson Elected to Guaranty Financial Group Inc....

David W. Biegler and Edward R. McPherson Elected to Guaranty Financial Group Inc. Board

AUSTIN, Texas--(Business Wire)--
Guaranty Financial Group Inc. (NYSE: GFG) today announced the
appointment of David W. Biegler and Edward R. McPherson to the
company's Board of Directors.

David W. Biegler, 61, serves as Chairman of Estrella Energy, L.P.,
a natural gas transportation and processing firm. Mr. Biegler was Vice
Chairman of TXU Corporation until his retirement in 2001. He served as
President and Chief Operating Officer of TXU Corporation from 1997 to
December 2001, and prior to that served as Chairman, President and
Chief Executive Officer of ENSERCH Corporation. He also serves on the
boards of Dynegy Inc., Trinity Industries, Inc., Austin Industries,
Inc., Children's Medical Center in Dallas, Texas, and Animal Health
International. Mr. Biegler received a Bachelor of Science degree from
St. Mary's University at San Antonio and completed the Harvard
University Advanced Management Program. Mr. Biegler will also serve on
the board of directors of the company's subsidiary, Guaranty Bank.

Edward R. ("Ted") McPherson, 62, serves as Chief Executive Officer
of InterSolve Group, Inc., a company dedicated to helping its clients
improve performance, profitability and shareholder value. Mr.
McPherson previously served as Under Secretary of Education and Chief
Operating Officer of the United States Department of Education from
April 2004 through December 2005, and as Chief Financial Officer of
the U.S. Department of Agriculture from October 2001 until April 2004.
Prior to that time, Mr. McPherson was Chief Financial Officer for
SunAmerica and First RepublicBank Corporation. He serves on the
National Aeronautics and Space Administration's Advisory Council and
its Audit and Finance Committee. Mr. McPherson holds a B.A. degree
from Williams College, and an M.S. in administration from George
Washington University. Mr. McPherson will also serve on the board of
directors of the company's subsidiary, Guaranty Bank.

With the election of Messrs. Biegler and McPherson, Guaranty
Financial Group's Board consists of 12 members.

Guaranty Financial Group is the second largest publicly-traded
financial institution holding company headquartered in Texas and one
of the 50 largest publicly-traded financial institution holding
companies based in the U.S. ranked by asset size. Guaranty Financial
Group operates Guaranty Bank, which engages in consumer and business
banking activities through a network of more than 150 banking centers
in Texas and California. Guaranty Bank also provides financing to
middle market companies, independent energy producers, and the real
estate industry. Additionally, Guaranty Bank operates an insurance
agency, Guaranty Insurance Services, Inc.

Guaranty Financial Group Inc.
Rusty LaForge, 214-360-1967
rusty.laforge@guarantygroup.com

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