Bexil Corporation Announces Closing of Acquisition by Subsidiary Mortgage Business Bexil American Mortgage Inc.

  Bexil Corporation Announces Closing of Acquisition by Subsidiary Mortgage
  Business Bexil American Mortgage Inc.

Business Wire

WALPOLE, N.H. -- January 9, 2013

Bexil Corporation (BXLC) announced today that its majority owned subsidiary,
Bexil American Mortgage Inc., has closed the previously announced agreement to
acquire 90% of the equity in Castle Mortgage Corporation, a mortgage lender
operating in the southeastern United States. Castle is an approved seller and
servicer of mortgage loans with Fannie Mae, Freddie Mac, and Ginnie Mae. Bexil
American simultaneously received an option to acquire the remaining 10% of
Castle in the future at a predetermined price. Bexil American received
financing from its management, Boulderado Group, LLC, and Bexil Corporation to
complete the acquisition. Remaining terms of the transaction were not
disclosed.

Boulderado Group’s Managing Member, Alex B. Rozek, noted, “Bexil Corporation
continues to deploy a capital allocation strategy, seeking businesses with
potentially above average returns on investment. We are pleased both as
shareholders and partners in this acquisition to work with Bexil Corporation
to attempt to grow book value at Bexil for the benefit of all shareholders.”
Boulderado Group is a shareholder of both Bexil Corporation and Bexil
American, and Mr. Rozek serves on the three member board of directors of Bexil
American.

Bexil Corporation

Bexil is a holding company engaged through subsidiaries in investment
management, securities trading, and mortgage banking. To learn more, please
visit www.bexil.com.

Boulderado Group, LLC

Boulderado Group is the manager of a Boston based investment partnership
founded in 2007 by Alex B. Rozek, its Managing Member. The partnership
generally invests in businesses and securities across a variety of asset
classes whenever it determines that the price represents a significant
discount to intrinsic value. Boulderado Group also has expertise and
investments in both specialty insurance and mortgage banking companies.

Safe Harbor Note

This release contains certain “forward looking statements” made pursuant to
the “safe harbor” provisions of the Private Securities Litigation Reform Act
of 1995. These statements involve known and unknown risks, uncertainties and
other factors, many of which are beyond the control of Bexil Corporation,
which may cause the company’s actual results to be materially different from
those expressed or implied by such statements. The forward looking statements
made herein are only made as of the date of this release, and the company
undertakes no obligation to publicly update such forward looking statements to
reflect subsequent events or circumstances.

Contact:

Bexil Corporation
Corinne Forti, 805-368-8665
Corporate Communications
corinne.forti@bexilamerican.com
 
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