GEROVA Financial Announces 1-for-5 Share Consolidation

GEROVA Financial Group, Ltd. GFC today announced it will effect a share consolidation on the basis of one ordinary share for every five ordinary shares of the company, which will become effective today. Also as a result of the Share Consolidation, GEROVA's authorized ordinary shares will be reduced from 100 billion to 20 billion shares and the par value will be increased from $.0001 to $.0005 per share. billion to 2 billion shares through the cancellation of 18 billion authorized and unissued ordinary shares. Post-consolidation ordinary shares will commence trading tomorrow, November 23, 2010, on the NYSE.