Gallo Insurance Acquires Slaton's Personal Policy Division

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--March 6, 2006--Gallo Insurance agency, an Empire Insurance Holdings, LLC company, has acquired the individual policy business of Slaton Agency in West Palm Beach, Fla. This acquisition will give Gallo an even stronger market share in the South Florida insurance market.

In addition to the business acquisition, Gallo gained the talent and expertise of six insurance agents from Slaton.

“The Palm Beach area has shown remarkable economic growth in recent years, and we wanted to position ourselves to be able to offer an even wider variety of insurance products in the surrounding area and eventually the rest of the country.”

"The level of knowledge and experience that these highly qualified agents have in the insurance industry and in this market will be a strong benefit to our entire operation," said Ben Z. Goldberg, CEO of Gallo Insurance. "This is another step toward our effort to expand our presence across the state and eventually nationally."

Gallo was attracted to Slaton's long-term standing in South Florida. Founded in 1923, Slaton has grown to one of the largest independent locally-owned agencies in South Florida. Gallo also wanted to tap Slaton's knowledgeable staff and diverse business portfolio in an effort to expand its presence in Florida.

"This acquisition has given us access to a number of strong national carriers, such as Safeco, Auto Owners and Encompass insurance companies," Goldberg said. "The Palm Beach area has shown remarkable economic growth in recent years, and we wanted to position ourselves to be able to offer an even wider variety of insurance products in the surrounding area and eventually the rest of the country."

"This latest acquisition shows that we are committed to our goal of building a strong, stand-alone, consumer direct service in the insurance industry," said Daniel H. Jacobs, CEO of Empire Equity Group. "Offering a variety of products to meet the needs of the diverse population of Florida poises us for continued growth. We look forward to taking our service nationwide in the future."

About Gallo Insurance Agency

Gallo Insurance Agency specializes in auto, homeowners and small business insurance with a division that also handles mobile home insurance in Florida. With approximately 5,000 clients, the company has a reputation for stellar customer service and client retention. The company is a division of Empire Insurance Holdings, LLC, which is an affiliate of Empire Equity Group, Inc.

About Empire Equity Group, Inc.

Privately held Empire Equity Group, Inc. has been in business since 1983 focusing on exceptional customer service and a diverse product offering. Based in Montvale, NJ, Empire has nearly three hundred offices throughout the United States operating under both the Empire Equity Group, Inc. and 1st Metropolitan Mortgage brands. Empire has served more than forty thousand customers in the last two years. Through its Preferred Lender Program the mortgage broker focuses on industry relationship building and long term partnerships as a way of reaching its goals of offering the highest levels of service with the widest array of loan products to serve the company's diverse cross section of customers. Empire uses a unique quarterly follow up program with its customer base in order to attract referrals and repeat business. For more information, call 704.552.0123.