Released on: September 23, 2008, 5:26 am

Press Release Author: Peter Brice

Industry: Financial

Press Release Summary: First Prime Group – Crude oil soars on US Dollar weakness.

Press Release Body: First Prime Group are thought to believe that mounting concerns
among the investment community that the $700 billion rescue package aimed at
relieving the credit crisis in the US’s banking system won’t work is responsible for
the recent resurgence in oil and precious metals prices and related stocks and the
renewed pressure being brought to bear on the US dollar in global currency markets.

An industry commentator familiar with First Prime Group’s analysis teams explained
that doubts center on still-to-be-revealed credit-default swaps counterparty risk
associated with AIG whom the Federal Reserve granted an emergency loan of $85
billion and the potential for further writedowns of the already heavily-discounted
mortgage-backed securities supposedly guaranteed by them.

“The initiative may, indeed, work” said the First Prime Group source “but it’s a
huge gamble.”

First Prime Group have advised clients take positions in defensive stocks including
utilities and global oil conglomerates.


Web Site: http://www.firstprimegroup.net

Contact Details: Financal Online
MWB Liverpool Street, 55 Old Broad Street
London
England
EC2M 1RX