RMG Capital Corporation announced year-to-date net income of $3.02 millionor $.98 per share compared to $3.56 million or $1.17 per share for the sameperiod 2007. This represents a decrease of $540 thousand year to date,when compared with the 2007 nine month results. The 2008 results include aone-time deferred compensation charge of $1.1 million. At September 30,2008, RMG Capital had total assets of $769.2 million as compared with$708.3 million at December 31, 2007 and $695.4 million at September 30,2007. "This is one of the most challenging economic and bankingenvironments we have ever faced," commented Tom Meyer, Bank President. "Inlight of this environment, I am pleased that the September 2008year-to-date RMG net income, net of the one-time deferred compensationcharge, is greater than the comparable net income of September 2007year-to-date results. This is attributable to a diversified loan portfoliothat is not overly concentrated in the most troubled credit sectors and ourability to keep our funding costs low."

Net interest income after provisions for loan losses totaled $19.3 millionyear-to-date, an increase of 11.7% or $2.03 million from a year ago. Netinterest spread for the Bank increased to an average of 4.06% throughSeptember 30, 2008, compared to an average of 3.40% through September 30,2007. The cost of funds on deposits and borrowings decreased from 3.41% onDecember 31, 2007 to 2.20% as of September 30, 2008. As of September 30,2008 the efficiency ratio for the Bank was 67.5% compared to 67.8% atDecember 31, 2007.

Non-performing loans as of September 30, 2008 were 3.03% of total loans ascompared to .74% as of June 30, 2007. The provision for loan losses wasincreased during the third quarter by $1.29 million resulting in overallreserves of 1.04% of total loans as of September 30, 2008. "Our loanportfolio is well diversified," said Meyer, "but we are taking a moreaggressive approach to setting reserves due to the current state of thesouthern California economy and deteriorating conditions for real estatedevelopment." As a percent of total loans, land loans represent 2.86% ofthe portfolio and construction loans total 5.37%.

The Return on Average Equity and Return on Average Assets for the ninemonths ended September 30, 2008 were 8.10% and .55% respectively, comparedto 10.52% and .70% for the same period in 2007 respectively. "These areunprecedented financial times," continued Meyer, "and we are gratified forthe continued support and growth from our core customers and the confidencethey have placed in the Bank."

RMG Capital Corporation is the holding company for Fullerton CommunityBank. The Bank is a community focused full-service bank which isheadquartered in Fullerton, California and has been serving southernCalifornia since 1927. The Bank currently has eight retail branches andtwo regional business banking offices operating in southern California.The SBA division of the Bank, Business Community Capital, serves a broadconstituency throughout the state of California and Nevada.

The statements contained in this news release may constituteforward-looking statements within the meaning of the Private SecuritiesLitigation Reform Act of 1995. These forward-looking statements are basedon current expectations, estimates and projections about RMG CapitalCorporation and its subsidiary Fullerton Community Bank's business based,in part, on assumptions made by management. These statements are notguarantees of future performance and involve risks, uncertainties andassumptions that are difficult to predict. Therefore, the Company's actualresults or performance may differ materially from what is expressed orforecasted in such forward-looking statements due to numerous factors,including but not limited to the general business environment, theCalifornia real estate market, competitive conditions in the business andgeographic areas in which the Company conducts its business and regulatoryactions or changes. The Company disclaims any obligation to subsequentlyrevise or update any forward-looking statements to reflect events orcircumstances after the date of such statements or to reflect theoccurrence of anticipated or unanticipated events.

RMG Capital Corporation and SubsidiariesConsolidated Statement of Financial Condition (Unaudited)Assets 09/30/08 09/30/07 ------------- --------------Cash and Due from Banks $ 17,121,000 $ 14,842,000Federal Funds Sold 0 0 ------------- -------------- Total cash and cash equivalents 17,121,000 14,842,000Loans, net 692,601,000 617,847,000Investment Securities HTM 0 994,000Mortgage-backed Securities AFS, at fair value 2,870,000 4,996,000Mortgage-backed Securities HTM 20,119,000 25,164,000Accrued Interest Receivable 3,676,000 3,663,000Investments in Real Estate, net 3,029,000 3,970,000Real Estate Acquired through Foreclosure 458,000 0Federal Home Loan Bank Stock, at cost 9,589,000 6,399,000Cash Surrender Value of Life Insurance 7,818,000 7,528,000Premises and Equipment, net 5,885,000 5,869,000Other Assets 6,015,000 4,134,000 ------------- -------------- Total Assets $ 769,181,000 $ 695,406,000 ============= ==============Liabilities and Stockholders' EquityLiabilities Deposit Accounts $ 492,810,000 $ 497,620,000 FHLB Borrowings 194,400,000 113,900,000 Other Borrowings 1,237,000 11,000,000 Junior Subordinated Debentures 18,558,000 18,558,000 Accounts Payable and other Liabilities 10,630,000 6,141,000 ------------- -------------- Total Liabilities 717,635,000 647,219,000 ------------- --------------Stockholders' Equity Preferred stock, no par value; 1,000,000 shares authorized: 5,000 shares issued and outstanding 4,823,000 4,823,000 Common stock, no par value; 10,000,000 shares authorized; 2,808,633 shares issued and outstanding 3,509,000 3,757,000 Accumulated other comprehensive Income (loss) (2,000) 23,000 Retained earnings 43,216,000 39,584,000 ------------- -------------- Total Stockholders' Equity 51,546,000 48,187,000 ------------- -------------- $ 769,181,000 $ 695,406,000 ============= ==============RMG Capital CorporationConsolidated Statement of Income (Unaudited) For the six For the six months ended months ended 09/30/08 09/30/07 ------------- -------------Interest income: Interest on loans $ 33,608,000 $ 34,955,000 Interest and dividends on investments 1,296,000 381,000 ------------- ------------- Total Interest Income 34,904,000 35,336,000 ------------- -------------Interest expense: Interest on deposit accounts 6,899,000 12,577,000 Other interest expense 6,340,000 4,989,000 ------------- ------------- Total Interest Expense 13,239,000 17,566,000 ------------- ------------- Net Interest Income before provision for loan losses 21,665,000 17,770,000 ------------- -------------Provision for loan losses 2,319,000 450,000 ------------- ------------- Net Interest Income 19,346,000 17,320,000 ------------- -------------Noninterest income: Loan servicing and other fees 2,124,000 1,709,000 Real estate operations, net -234,000 119,000 Gain on sale of loans, net 124,000 335,000 Other 254,000 521,000 ------------- ------------- Total noninterest income 2,268,000 2,684,000 ------------- -------------Noninterest expense: Compensation and other employee benefits 12,077,000 9,768,000 Occupancy 1,071,000 1,014,000 Equipment rental and data processing 782,000 766,000 Other expense and supplies 406,000 434,000 Other 2,626,000 2,605,000 ------------- ------------- Total noninterest expense 16,962,000 14,587,000 ------------- ------------- Income before income tax provision 4,652,000 5,417,000Income tax provision 1,623,000 1,854,000 ------------- ------------- Net Income $ 3,029,000 $ 3,563,000 ------------- -------------

Contact:Tom MeyerVice President, RMG Capital Corp.President, Fullerton Community Bank(714) 578-7500