Hometown Auto Retailers Secures Floor Plan Financing from Ford Credit

    WATERTOWN, Conn.--March 20, 2001--Hometown Auto Retailers (OTC BB: HCAR) Tuesday announced that Ford Motor Credit Co. has successfully taken over the floor plan financing from GE Capital for Hometown's 10 dealerships in Connecticut, Massachusetts, New Jersey, New York and Vermont.
    "We are excited to have Ford Motor Credit behind Hometown's floor plan financing, and we look forward to a long-term relationship," said Corey Shaker, president and chief executive officer for Hometown.
    "Ford is a pleasure to work with, and we could not be happier with the professionalism they have extended to us during this transition. Our shareholders will appreciate that this agreement with Ford has lowered our interest charges and monthly fees. In addition, we feel that Ford Motor Credit will help us in our efforts to sell even more cars and trucks."