EXHIBIT 99 PRESS RELEASE FOR IMMEDIATE RELEASE July 3, 1997 First Central Financial Corporation (AMEX-FCC) of Lynbrook, New York and Connor Clark Ltd. of Toronto, Canada announced today that the parties have agreed to discontinue discussions concerning an investment by Connor Clark Ltd. in First Central. First Central continues to conduct discussions with other qualified investors to help implement the company's turnaround plans. For further information, call Andrew Attivissimo at (516) 593-7070.