FOR: IEG Holdings Corp.


FEBRUARY 20, 2018

IEG Holdings Will Not Proceed with LendingClub Tender Offer

LAS VEGAS, NV --(Marketwired - February 20, 2018) -  IEG Holdings Corporation
(OTCQB: IEGH) ("IEG Holdings") today announced that it has determined
that it will not proceed with, and will terminate and withdraw, its offer (the
"Offer") to exchange 13 shares of IEG Holdings' common stock for
each share of common stock of LendingClub Corporation
("LendingClub"), up to an aggregate of 20,701,999 shares of
LendingClub's outstanding common stock.

Paul Mathieson, IEG Holdings' Chairman and Chief Executive Officer, said,
"Due to a comment that we received from the Securities and Exchange
Commission raising a concern that the Offer was improperly commenced, we have
determined to withdraw the currently filed S-4 registration statement".

Any shares that have been tendered by LendingClub stockholders have not yet
been accepted by IEG Holdings and will be promptly returned to the relevant
stockholders. In addition, we have instructed the depositary, exchange agent,
and information agent to direct stockholders how to recover any tendered

About IEG Holdings Corporation

IEG Holdings Corporation is an SEC reporting fintech company that provides
online $5,000 and $10,000 unsecured consumer loans under the brand name,
"Mr. Amazing Loans", via its website and online application portal at IEG Holdings currently offers $5,000 and $10,000
unsecured consumer loans that mature in five years. IEG Holdings is a direct
lender with state licenses and/or certificates of authority in 20 states --
Alabama, Arizona, California, Florida, Georgia, Illinois, Kentucky, Louisiana,
Maryland, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon, Pennsylvania,
Texas, Utah, Virginia and Wisconsin. IEG Holdings provides loans to residents
of these states through our online application portal, with all loans
originated, processed and serviced out of our centralized Las Vegas head

Forward-Looking Statements

This press release contains forward-looking statements. All statements other
than statements of historical facts included in this press release are
forward-looking statements. In some cases, forward-looking statements can be
identified by words such as "believe," "expect,"
"anticipate," "plan," "potential,"
"continue" or similar expressions. Such forward-looking statements
include risks and uncertainties, and there are important factors that could
cause actual results to differ materially from those expressed or implied by
such forward-looking statements. These factors, risks and uncertainties are
discussed in IEG Holdings' filings with the SEC. Investors should not
place any undue reliance on forward-looking statements since they involve known
and unknown, uncertainties and other factors which are, in some cases, beyond
IEG Holdings' control which could, and likely will, materially affect
actual results, levels of activity, performance or achievements. Any
forward-looking statement reflects IEG Holdings' current views with
respect to future events and is subject to these and other risks, uncertainties
and assumptions relating to operations, results of operations, growth strategy
and liquidity. IEG Holdings assumes no obligation to publicly update or revise
these forward-looking statements for any reason, or to update the reasons
actual results could differ materially from those anticipated in these
forward-looking statements, even if new information becomes available in the

The contents of IEG Holdings' website referenced herein are not
incorporated into this press release.



Paul Mathieson
IEG Holdings Corporation
Chairman/CEO and Founder

INDUSTRY:  Financial Services - Commercial and Investment Banking, Financial
Services - Investment Services and Trading, Financial Services - Personal
Finance, Financial Services - Retail Banking