SAEHAN BANCORP RECEIVES COMMITMENT LETTERS TOTALING $30.9 MILLION

LOS ANGELES--(BUSINESS WIRE)--Saehan Bancorp (OTCBB:SAEB - News), parent company of Saehan Bank, today announced it has received conditional commitment letters from various accredited investors, including several members of the Board of Directors, totaling up to $30.9 million in connection with its private placement stock offering. It is anticipated that these commitment letters will be funded by next week. All funds received pursuant to the commitment letters will be deposited into an impound account and not released to the Company until certain conditions have been met, including raising a minimum of $60.0 million in commitments to purchase the Company’s common stock, receipt of all necessary regulatory approvals, and certain other conditions. Unless these conditions are satisfied, all funds deposited into the impound account will be returned to investors.

The Company is conducting a private placement stock offering to raise additional capital to be infused to Saehan Bank to satisfy certain regulatory capital ratios. Saehan Bank entered into a consent order with the Federal Deposit Insurance Corporation and the California State Department of Financial Institutions effective December 7, 2009. Among other things, the Bank is required to attain a Tier 1 capital leverage ratio of 8% within 60 days of the consent order and to attain and thereafter maintain a Tier 1 capital leverage ratio of 10% within 90 days of the consent order.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Saehan Bancorp

Saehan Bancorp is a bank holding company with headquarters in Los Angeles, California. Through our wholly-owned bank subsidiary, Saehan Bank, we offer a comprehensive range of financial solutions to meet the financial needs of the Korean-American community in Los Angeles.

Saehan Bancorp is committed to satisfying customers and creating shareholder value. Our ten retail branch offices, International Department and SBA Department of Saehan Bank focus on fulfilling these commitments to customers and shareholders.

Safe Harbor

This press release contains certain forward-looking information about Saehan Bancorp that is intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of Saehan Bancorp. Saehan Bancorp cautions readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, Saehan Bancorp’s results could differ materially from those expressed in, or implied or projected by such forward-looking statements. Saehan Bancorp assumes no obligation to update such forward-looking statements, except as required by law.

Saehan Bancorp
Daniel Kim, SVP & CFO, 213-637-4802