Ofek Capital to Launch New Company, Enters Venture Capital Market

TORONTO--June 11, 2002--Ofek Capital Corp. (Pink Sheets:OFCC - News) announces it has established a new wholly owned subsidiary, Venture Capital Corp. Ofek management is entering the venture capital market in response to growing demand and numerous requests of Ofek to provide funding and secure equity involvements.

Mr. Shalom Romm, CEO and Chairman of Ofek Capital notes: "Many of the funding requests received by Ofek are promising and lucrative. It is a very important step towards the company's ability to provide a true range of financial services within its core niche of sub prime financing and lending. Ofek will immediately use Venture Capital Corp. to evaluate numerous pre-existing equity involvements, funding and investment prospects in our current database. Upon completion of proper due diligence, Ofek will move forward and expects to enhance the balance sheet benefiting shareholders equity and shareholders interests."

Ofek's management is committed to acquiring a listing on the OTC Bulletin Board and is working diligently to complete the necessary and essential registration statement and documents. Management believes that such a listing will be made available to Ofek within a reasonable time. Ofek intends to be listed on more senior exchanges, like the NASDAQ, as soon as possible.

About Ofek Capital, http://www.OfekCapital.com

Ofek Capital is a North American financial services company that operates within the sub-prime lending and financing market. Ofek believes that the sub-prime market is the most lucrative niche in the financial services industry.

Ofek Capital subsidiaries include: AJM Leasing, Mortgage Bankers of North America, and SecondaryMarkets.

Ofek leases used cars through its Ontario subsidiary, AJM Leasing. Mortgage Bankers of North America, a California subsidiary, anticipates offering traditional mortgage banking services in 24 states. SecondaryMarkets, a California subsidiary is developing a proprietary, patent pending, automated submission and lending approval software system. It will be state-of-the-art and capable of generating immediate loan approval from multiple loan providers.