First Factor Provides Update on its Change of Business Transaction

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 4, 2007) - First Factor Developments Inc. (NEX:FFD.H) reports that it is in the process of responding to the TSX Venture Exchange's comments concerning the company's filing submission pertaining to the change of business transaction announced in its news release of April 3, 2007.

First Factor also reports that the exercise price of the stock options granted in May 2007 has been increased to $0.45.

ON BEHALF OF THE BOARD

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:

First Factor Developments Inc.
Gregory Beischer
President & CEO
(604) 484-7855