FOR IMMEDIATE RELEASE

Sale of $35.4 Million
Auto Deficiency Portfolio
Worldwide Auto Manufacturer Sells Charged-Off Auto Loans

May 25, 1999 -- LoanTrade Inc. is please to announce its sale of a nationwide portfolio of auto deficiency balances on behalf of its client, a well known manufacturer of automobiles.  The portfolio consisted of deficiency balances originated from the manufacturer's nationwide new car sales financing program. This portfolio represented an excellent opportunity to purchase a very geographically, well-balanced portfolio with an attractive average loan balance of $5,472.

Tim Kirkpatrick, LoanTrade's President said "Its the second sale I have handled for this particular client, bringing total sales for them to $221 million.  Fortunately, competition for this portfolio was intense."

All accounts had been referred to at least one outside third party collection agency, and most had been referred to two agencies. Sale terms included reserve accounts for bankrupt accounts, settled accounts, deceased accounts, and fraudulent accounts.