On January 16, 2009, FIRSTPLUS Financial Group Inc. entered into a Loan Agreement with Robert O’Neal to lend the Company up to $300,000 to be evidenced by a promissory note and secured under a security agreement of the same date. Robert O’Neal is a related party to the Company. The Agreement provides as additional consideration an option to the Lender to purchase up to 10,000,000 shares of common stock of the Company for $0.04 per share. The term of the option is for seven and one-half years from January 16, 2009. In addition, the Company is obligated to issue to the Lender 2,000,000 shares of Company common stock upon execution of the Agreement.

FIRSTPLUS Financial Group Inc. announced the company has been in regular communication with the Department of Justice as part of its continuing cooperation with the Department's ongoing criminal investigation into various transactions in 2007 that depleted company assets. The company recently received written notification from the Department of Justice that two unnamed members of its Board Members are targets in the ongoing criminal investigation. The company has been instructed that the remaining Members of the Board of Directors are not targets. In connection with the most recent meeting of the Board of Directors, company legal counsel polled all Board Members to determine which had received a target letter from the Department of Justice. All Board Members, except for John Maxwell and William Handley, unequivocally denied receiving any such letter and have provided written confirmation to this effect to the company. When asked at the recent Board meeting, John Maxwell stated legal counsel instructed him not to answer any such question and William Handley stated he was not aware of any such correspondence. In recent correspondence by John Maxwell to certain shareholders via an Internet forum, he confirmed that he and William Handley had received target letters from the Department of Justice. The Maxwell letter released on the Internet contains many misleading characterizations about the company and the Department of Justice inquiry. The company cautions against any trading of the company stock based upon any unauthorized disclosures or representations by John Maxwell and/or William Handley.

FIRSTPLUS Financial Group Inc. announced that it has suspended a distribution to shareholders of certain funds held by Bank of New York Mellon. The Company has been ordered by the Second Judicial Court of Washoe County, Nevada to pay into the registry of that Court the proceeds of a planned distribution to shareholders, pending outcome of a lawsuit filed by certain shareholders.