EXHIBIT 99.1


                 [GREATER ATLANTIC FINANCIAL CORP. LETTERHEAD]




                        GREATER ATLANTIC FINANCIAL CORP.
                 ANNOUNCES RECEIPT OF MERGER TERMINATION NOTICE
                       FROM SUMMIT FINANCIAL GROUP, INC.,
                 AND CONTINUING MERGER NEGOTIATIONS WITH SUMMIT

Reston, Virginia; April 9, 2008. Greater Atlantic Financial Corp. ("Greater
Atlantic") (Pink Sheets: "GAFC.PK") announced today that it has received written
notice from Summit Financial Group, Inc. ("Summit") (NASDAQ: "SMMF") that Summit
has exercised its right to terminate the Agreement and Plan of Reorganization,
as amended, that Summit and Greater Atlantic had entered into on April 12, 2007.

Greater Atlantic and Summit have initiated negotiations towards entering into a
new definitive agreement. However, no assurances can be given that the
negotiations will lead to the parties entering into a new definitive agreement.

Greater Atlantic Financial Corp. is the holding company for Greater Atlantic
Bank, a federally-chartered savings bank. We offer traditional banking services
to customers through our bank branches located throughout the greater
Washington, DC metropolitan area. Greater Atlantic Financial Corp. had
approximately $236 million in assets at December 31, 2007.




CONTACT:
Carroll E. Amos
President & CEO
GREATER ATLANTIC FINANCIAL CORP.
(703) 391-1300
WWW.GAB.COM