updated 9/23/2010 9:46:29 AM ET 2010-09-23T13:46:29

MIAMI, Sept. 23, 2010 (GLOBE NEWSWIRE) -- Southern Trust Securities Holding Corp. ("STSHC") (OTCBB:SOHL), a financial services company offering broker-dealer, investment banking, investment advisory and wealth management services, announced operating results for the June 30 fiscal year end of Nexo Emprendimientos S.A. ("Nexo"), an Argentine credit card company. Presently, STSHC owns approximately 17.3% of Nexo and, as previously announced, it has signed a letter of intent to purchase additional equity in Nexo (the "Transaction") such that it would own 60% of Nexo upon the successful consummation of the Transaction.

Nexo is a new credit card and consumer loan company based in Argentina. For the fiscal year ended June 30, Nexo experienced rapid growth. Specifically, Nexo's revenue increased from U.S.$2.47 million to U.S.$3.23 million, representing a 31% increase and its total assets increased from U.S.$9.5 million to U.S.$11.9 million, representing a 25% increase. During the fiscal year, Nexo also completed a debt to equity swap resulting in a net book value of U.S.$6.2 million as of June 30, 2010.

Additionally, during the fiscal year, Nexo was able to securitize its own credit card receivable portfolio in the Argentine security market. Nexo established financial trust certificates representing approximately U.S.$2.6 million in gross proceeds to Nexo. The Trust was approved by the Argentine Security and Exchange Commission and was rated by local rating agencies.

Mr. Oscar Cerutti, Nexo's President, commented, "We are very pleased with the results of Nexo for the fiscal year end June 30. Nexo is still a growing company and each year we have been able to make substantive progress. We expect our revenue and assets to continue to increase at similar rates over the next year. We were particularly pleased to be able to enter the Argentine securitization market this year. The securitization of our credit card receivables is a very important capital raising tool and having established ourselves in the market, we will be able to continue to access this funding mechanism in larger amounts which will allow us to grow rapidly in a capital efficient way."

STSHC's CEO Mr. Robert Escobio also commented, "Southern Trust made its initial investment in Nexo in 2009 and as we previously announced, we have proposed to increase our investment to a controlling interest in Nexo. The results of Nexo for its fiscal year described herein clearly evidence Nexo's ability to grow its revenue and asset base rapidly and gives us confidence in our investment."                  .

About Southern Trust Securities Holding Corp.

STSHC is a financial services company offering securities brokerage, investment banking, asset management and private wealth management for a growing base of retail and institutional, corporate, and high-net-worth clients primarily in Latin America and Asia. STSHC services include access to international investment opportunities in U.S. and foreign capital markets, offshore entities for financial planning, and cross-border transactions, including private placements, bridge financing and reverse mergers into publicly-traded shell corporations. STSHC operates through its subsidiaries, Southern Trust Securities, Inc. (STS) and Southern Trust Securities Asset Management, Inc. (STSAM), Southern Trust Metals, Inc. (STM) and affiliated Geneva-based International Private Wealth Management S.A. (IPWM). STS is a member of the Securities Investors Protection Corporation (SIPC), National Futures Association (NFA), and Financial Industry Regulatory Authority (FINRA). STS clears trades through, and maintains client accounts with, Pershing LLC, a wholly owned subsidiary of The Bank of New York Mellon Co.

Forward- Looking Statements

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Corporation's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Except as otherwise required by federal securities laws, the Corporation undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.

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