Rapidly Growing Self Directed IRA Custodian PENSCO Trust Hires President & COO Scott Rosebrook

SAN FRANCISCO (Business Wire EON) July 2, 2007 -- Tom W. Anderson, CEO and Founder of the PENSCO Trust Company, announces the hiring of Scott K. Rosebrook who joins the Company as President and Chief Operating Officer, effective July 2, 2007. Reporting to Anderson, Rosebrook will be responsible for the Company's daily operations. Anderson said, “PENSCO Trust is rapidly growing as one of the leaders in the self directed IRA and retirement account industry. Scott's broad financial services experience and demonstrated leadership in business origination, operations, and strategy will help us more quickly implement our growth initiatives including the development of strategic relationships that will be essential to our continued success in our dynamic market segment. I look forward to working with Scott in his new role at PENSCO Trust as we continue to grow the Company with our unique product offering providing knowledge, integrity and premier service to our clients.”

Rosebrook joins PENSCO Trust most recently from SVB (Silicon Valley Bank) Financial Group, where he was Head of Corporate Development. Prior to SVB, he held a number of senior management positions at leading financial service and technology firms including Managing Director, Business Administration and Planning for TD Securities (USA) and also served on the Board of their registered U.S. broker-dealer. Previous to TD, Rosebrook worked at IBM in their Global Financial Services sector, delivering business consulting and technology solutions for “straight-through” securities processing. Before that, he spent 11 years at Bank of America holding roles as Managing Director and Head of Corporate Finance for the company’s Global Corporate & Investment Banking group, a special assignment in the Office of the Chairman, and also led B of A’s business development activities for derivative products to large corporate clients as part of the Financial Engineering & Risk Management group. Rosebrook holds a B.S. degree in Economics with honors from Siena College, completed graduate studies in the Investment Management Program at the University of London’s London Business School, and has an MBA from the University of San Francisco.

About PENSCO Trust

For more than 18 years, PENSCO, with offices in New Hampshire, New Jersey, Florida, Texas and California, and with more than $2.1 billion in assets under administration, has helped investors take control of their retirement portfolios. For more information, visit www.penscotrust.com.