National Investment Managers Inc. Sets Revenue and Earnings Records

DUBLIN, OH--(Marketwire - August 14, 2009) - National Investment Managers Inc. (OTCBB: NIVM),
a nationally-based and regionally-operated retirement plan administration
and investment management company, announced its financial results for the
quarter and half year ended June 30, 2009.

Financial highlights for second quarter and first half of 2009 include:

-- Second quarter revenues of $14.1 million in 2009 compared with
revenues of $11.8 million in 2008, an increase of 19.7%;

-- Second quarter EBITDA SBC of $4.7 million in 2009 against EBITDA SBC
of $3.8 million in the same period 2008, an increase of approximately $0.9
million or 21%;

-- First half revenues of $26.7 million in 2009 compared with revenues of
$20.7 million in 2008, an increase of 29.1%;

-- First half EBITDA SBC of $6.7 million in 2009 against EBITDA SBC of
$4.9 million in the same period 2008, an increase of approximately $1.8
million, or 37%;

-- Net Income of approximately $2.0 million in the second quarter of 2009
compared to net income of approximately $0.3 million in the same period of
2008;

-- Continued positive cash flow from operations in the second quarter of
approximately $1.6 million, bringing cash flow from operations year-to-date
to approximately $3.4 million;

-- EBITDA Operating Margins improved to 33.1% in the second quarter of
2009, and 24.9% for the first half of 2009, compared to 32.7% and 23.4%
respectively, for the same periods in 2008.

Revenues for the three months ended June 30, 2009, increased to a
second-quarter record $14.1 million compared to $11.8 million for the same
period in 2008, an increase of 19.7%. The Company's earnings before
interest, taxes, depreciation, amortization, change in derivative financial
instruments and stock-based compensation (EBITDA SBC) was $4.7 million for
the second quarter 2009, up from $3.8 million from the same period in 2008.

Net income for the quarter ended June 30, 2009, was approximately $2.5
million with preferred dividends of approximately $494,000, resulting in a
net income available to common shareholders of approximately $2.0 million,
or $0.03 per fully diluted share. For the same period in 2008, net income
was approximately $833,000, with approximately $494,000 in preferred
dividends, resulting in net income available to common shareholders of
approximately $340,000, or $0.01 per fully diluted share. The weighted
average number of common shares outstanding stood at roughly 39.6 million
basic and 73.5 million diluted at June 30, 2009 and 36.8 million basic and
75.1 million diluted at June 30, 2008.

Steven Ross, CEO of National Investment Managers, said, "Our record
performance in the second quarter and first half of 2009 was driven by
continued organic growth and operating improvements in our retirement plan
administration business. Despite a difficult economy, our field operations
posted significant gains in revenue, earnings, operating margins and cash
flow. These results clearly demonstrate the strength and stability of our
business model, and are a credit to the exceptional capabilities of our
organization. Through our strategy of building a national retirement
services business based upon acquiring best-in-class Third Party
Administrators (TPAs), we are able to provide exceptional retirement plan
design, consulting and administration services to our local clients. The
resulting long-term and trusted customer relationships have allowed us to
grow our revenues even in a challenging economic environment."

John Davis, President and Chief Operating Officer, added, "I am very
pleased with this quarter's financial results and proud of our people that
drove this record performance. As a team, we continue to meet or exceed
our aggressive growth plans by almost all financial metrics. Our firms
have demonstrated consistent and predictable growth with strong cash flows
and low client attrition rates despite a difficult economy, which is an
indicator of the continued strong demand for retirement plan services."

He concluded, "We continue to stay on track with our strategic and
operational plans toward the development and implementation of our national
technology platform and administrative business model across the country.
We have significant momentum across the organization and I believe we are
rapidly establishing NIVM as a premier retirement services company on a
national level and I look forward to continued growth."

About National Investment Managers Inc.

National Investment Managers Inc. is a holding company and a consolidator
of pension plan administration, investment management and insurance
businesses. Its strategy includes a custom-tailored acquisition formula
for each acquired business, which allows local and regional entities to
retain their autonomy while benefiting from the reach that a national
presence offers. In addition, the Company's approach offers entrepreneurs
in these businesses an exit strategy suited to their specific needs.
National Investment Managers targets businesses with stable cash flows and
high operating margins to ensure successful integration of operations once
a sale is concluded. Acquired companies continue to operate under their
own brands, usually with minimal staff turnover to ensure that
relationships of many years' standing are not disrupted. At the same time,
these formerly small businesses can cross-sell related financial services
under the National Investment Managers umbrella and enjoy administrative
and other support from around the country.

The member firms of National Investment Managers provide pension
administration services, retirement planning, defined benefit services,
asset preservation, general insurance and asset management services.
Wholly-owned subsidiaries of National Investment Managers are based in
Anchorage, AK; Laguna Hills, CA; Marina Del Rey, CA; Greenwood Village, CO;
Southington, CT; Lake Mary, FL; Pikesville, MD; North Attleboro, MA;
Haddonfield, NJ; New York City, NY; Yorktown Heights, NY; Beaverton, OR;
Harrisburg, PA; Horsham, PA; Wayne, PA; Warwick, RI; Houston, TX; and
Seattle, WA. NIVM's corporate headquarters are located in Dublin, OH.

Note: This press release contains statements that are considered
forward-looking under the Private Securities Litigation Reform Act of 1995,
including statements about the Company's future prospects. They are based
on the Company's current expectations and are subject to a number of
uncertainties and risks, and actual results may differ materially. The
uncertainties and risks include whether the Company is able to raise
capital, identify and complete acquisitions, integrate the acquired
businesses, improve upon the operations of the acquired business units and
generate cash and profits. Further information about these and other
relevant risks and uncertainties may be found in the Company's filings with
the Securities and Exchange Commission.