INVESTOR ALERT: KGS Notifies Franklin Bank Corp. Shareholders That They Have Until August 5, 2008 to File Lead Plaintiff Application in Securities Fraud Class Action Lawsuit -- FBTX

NEW ORLEANS, LA--(Marketwire - June 9, 2008) - Kahn Gauthier Swick, LLC ("KGS") reminds shareholders that August 5, 2008 is the deadline to file lead plaintiff applications in a securities fraud class action pending in the United States District Court for the Southern District of Texas, on behalf of shareholders who purchased the common stock of Franklin Bank Corp. ("Franklin" or the "Company") (NASDAQ: FBTX) between October 29, 2007 and May 1, 2008, inclusive (the "Class Period"). No class has yet been certified in this action.

If you would like to discuss your legal rights, you may e-mail or call KGS Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, via cell phone after hours at 504-301-7900, or by email at lewis.kahn@kgscounsel.com.

Franklin and certain of the Company's officers are charged with making a series of materially false and misleading statements related to the Company's business and operations in violation of the Securities Exchange Act of 1934 (the "Exchange Act").

If you wish to serve as lead plaintiff in this class action lawsuit, you must move the Court no later than August 5, 2008. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you would like to discuss your legal rights, you may e-mail or call KGS Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, after hours via cell phone 504-301-7900, or by email at lewis.kahn@kgscounsel.com. To learn more about KGS, you may visit www.kgscounsel.com. KGS is a law firm focused on securities class action litigation with offices in New Orleans and New York City.

KGS' lawyers have significant experience litigating complex securities fraud class actions. Among other cases, KGS has been appointed Lead or Co-Lead Counsel in the following securities cases: In re: U.S. Auto Parts Networks, Inc. Securities Litigation, C.D. Cal.; In re Optionable, Inc. Securities Litigation, S.D.N.Y.; In re Xethanol Corporation Securities Litigation, S.D.N.Y.; Pixelplus Co. Ltd., S.D.N.Y.; In re Witness Systems Inc. Securities Litigation, N.D. Ga.; Whitney Information Network, M.D. Fla.; Bodisen Biotech, Inc., S.D.N.Y.; Pegasus Wireless Corp., S.D. Fla.; In re Xinhua Finance Media, Ltd. Securities Litigation, S.D.N.Y.; Terayon Comm. Systems Inc., N.D. Cal.; Gaming Partners, D. Nev.; and In re BigBand Networks, Inc. Securities Litigation, N.D. Cal.

SPECIAL NOTICE: KGS encourages you to carefully evaluate any firm you may consider to represent your interests in the Franklin class action. The Private Securities Litigation Reform Act ("PSLRA") permits Franklin shareholders to choose counsel of their choice to prosecute this action. Critical components of a law firm's ability to successfully prosecute this action and obtain a strong recovery for you include the resources it will dedicate to prosecution of the case, including the number of lawyers the firm has available for the Franklin action in particular, AND especially the quality of the firm's work. Interested shareholders are encouraged to call for consultation and to request more information about KGS. While KGS has not filed suit yet, the firm has been investigating Franklin for some time and invites shareholders to evaluate its complaint when choosing counsel.

Contact Information: Contact: Lewis Kahn Kahn Gauthier Swick, LLC 1-866-467-1400, ext. 100 Lewis.kahn@kgscounsel.com