updated 12/23/2010 2:16:13 PM ET 2010-12-23T19:16:13

BOCA RATON, Fla., Dec. 23, 2010 (GLOBE NEWSWIRE) -- The Mattera Reserve, Inc. and John Mattera, its Chief Executive Officer, today announced that Mr. Mattera has reached a settlement with the U.S. Securities and Exchange Commission (SEC) resolving a previously disclosed SEC complaint against Mr. Mattera and others.

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8518

"I am pleased to have resolved this matter with the SEC and look forward to being focused on business without any disruption of an SEC complaint," stated John A. Mattera.

In August, 2010 the SEC agreed to the settlement with John A. Mattera, the Mattera Reserve's chairman and CEO. Mr. Mattera, without admitting or denying the allegations in the SEC's complaint, agreed to the entry of a final judgment that permanently enjoins him from violations of Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934 and imposes a penny stock bar. In addition, the SEC imposed a civil monetary penalty of $70,000 and disgorgement of $70,000 plus interest of $8,799.94. The settlement does not otherwise restrict Mr. Mattera's from serving as an officer or director of a public company. The Mattera Reserve was not a party to the SEC complaint.

About The Mattera Reserve

The Mattera Reserve a financial institution primarily engaged in offering financial services and advice to corporations. 

Using our own capital allows for substantial flexibility to choose when, where and why we want to invest and allows us to execute transactions in a timely manner.

For more information, visit  www.matterareserve.com .

The Mattera Reserve logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8219

CONTACT:  The Mattera Reserve
          Media Contact:
          Lisa Yigit

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