Exhibit 99.1

LOGO

For Immediate Release

Aleritas Capital Announces 2007 Earnings and

Schedules Financial Results Conference Call

OVERLAND PARK, KS, March 12, 2008 – Brooke Credit Corporation d/b/a Aleritas Capital Corp. (OTCBB: BRCR; BRCRW; BRCRU) today reported 2007 earnings. Management will host an investor and analyst conference call to discuss these results on:

 

Date:    Friday, March 14, 2008
Time:    10:00 AM ET (9:00 AM CT)
Dial-in-number:    (877) 627-6562 (United States and Canada); (719) 325-4914 (Internationally)
Conference Call ID:    Ask for the Aleritas Capital Conference Call or ID 1954544
Webcast:    http://ir.aleritascapital.com (If you are unable to listen to the live call, it will be archived on the Company’s website.)

Net earnings for the 12 months ended December 31, 2007 totaled $6.3 million, or 24 cents per diluted share, on revenues of $32.9 million, compared to net earnings of $7.0 million, or 26 cents per diluted share, on revenues of $24.2 million for the same period in the prior year. For this 12 month period, total revenues increased approximately 36 percent and total earnings decreased approximately 9 percent.

During 2007, the Company incurred approximately $2.2 million in non-cash compensation expense related to the grant of restricted stock to the Company’s executives, most of which were in connection with the merger with Oakmont Acquisition Corp. 1,186,537 shares issued were not newly issued shares and as a result did not increase the total outstanding share count of the Company. Only 126,239 shares were newly issued shares, which were issued in the 4th quarter under the Company’s equity incentive plan. Adjusting 2007 earnings for this compensation expense, results in net earnings of approximately $7.7 million, or an increase of approximately 10% over the comparable period in 2006.

During 2007, the Company originated approximately $315.3 million in new loans and experienced principal payments on its loan portfolio of approximately $120.4 million. The Company’s loan portfolio balances as of December 31, 2007 totaled approximately $678.2 million, which represents an increase in loan portfolio balances of approximately 40% over loan portfolio balances of $483.3 million on December 31, 2006.

Leading into 2008, the Company has significantly higher loan loss reserves against loan balances held in its inventory. During 2007, the Company established a loan loss reserve of approximately $1.6 million against these balances. Additionally, the Company incurred a $4.7 million pre-tax impairment loss on its securities balances, related to an increase in its loss estimate related to impaired loans owned by the Company’s qualified special purposes entities.

During 2007, the Company increased its prepayment assumption associated with the calculation of the carrying value of its securities, interest-only strip receivables, and servicing asset balances from 10% to 12% which resulted in a $779,000 impairment loss.

 

1


The following information was filed by Aleritas Capital Corp. on Friday, March 14, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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