vFinance Investments Names Kenneth J. McCarthy to Chief Economist Post.

Business Editors

NEW YORK--(BUSINESS WIRE)--June 26, 2003

Industry Veteran to Provide Economic Analysis to Firm's

Institutional and High Net Worth Clients

vFinance Investments Inc, (OTCBB:VFIN), a rapidly expanding financial services firm servicing high growth companies, high net worth investors and institutions focused on aggressive growth, has named Kenneth J. McCarthy as its Chief Economist. Mr. McCarthy, a respected industry veteran, will provide in-depth analysis and perspective on fundamental economic factors that influence the markets.

Mr. McCarthy, a frequent guest on CNBC and Reuters TV, will focus on the further development of vFinance's proprietary Entrepreneurial Confidence Index (ECI), the industry's leading tool for the early identification of emerging technologies, companies and industries. During the first quarter, more than 11,000 emerging companies, financial institutions and private investors participated in the ECI at http://www.vfinance.com, the Internet's leading private equity portal.

"Ken has a proven record of delivering solid economic forecasts in a challenging market environment," said Victoria Santaella, VFIN's Executive Vice President, Research Services Division. "Ken's industry expertise coupled with his ability to recognize, react and communicate pivotal economic changes will be a significant benefit to our private and institutional clients."

"Because of the importance that small and medium sized business has on the U.S. economy, the ECI is uniquely positioned to become a major economic indicator," said McCarthy. "The ability to spot the development of new industries at their inception will provide investors significant opportunities to earn higher returns."

Previously, Mr. McCarthy was Managing Director and founder of the Economic Intelligence Company, a consulting firm that specializes in sector and market-wide analysis. Prior to founding EIC in 1992, Mr. McCarthy was associated for 14 years with Rinfret Associates, Inc., an international intelligence firm headed by prominent economist Pierre Rinfret. Mr. McCarthy joined Rinfret in 1978 as an economic research associate and served successively as staff economist, Vice President and Senior Vice President.

Mr. McCarthy has extensive experience in domestic as well as global research and forecasting. He has traveled widely to conduct research in the U.S. and abroad for client corporations. His reports range across the fields of economics, finance and politics. He has long experience in operating a worldwide network of correspondents. In developing his extensive Washington contacts, Mr. McCarthy has worked with staffs of national political figures and Congressional committees.

Mr. McCarthy received a Bachelor of Arts degree in economics from St. Anselm's College in New Hampshire and a Master of Arts degree in Economics from Fordham University.

"The results of the past ten years have clearly demonstrated that the US economy in large part is being driven by healthy entrepreneurial activity," said McCarthy. "vFinance is clearly the leading firm on Wall Street that not only understands this, but has the proprietary research tools to monitor it."

About vFinance

vFinance, Inc. (OTCBB:VFIN) is a multi-channel financial services company that provides investment banking, trading and brokerage services to more than 10,000 corporate and private clients worldwide. The company has offices in New York, Houston, San Jose, Atlanta, Boca Raton and 20 other cities nationwide.

The company's Web site, http://www.vfinance.com, is the leading destination on the Internet for companies seeking capital, as well as institutional and high net-worth investors seeking to make investments in dynamic high-growth companies. Each year, the site hosts more than one million investors and CEOs from over 50 countries. This huge audience creates a perpetual, global deal stream for vFinance's bricks-and-mortar financial service units.

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "intend," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ.