Westar Financial to Provide Private Label Services to USAA Federal Savings Bank

    TUMWATER, Wash.--March 22, 2001--Westar Financial Services Incorporated (OTC:WEST), the leading automobile e-finance services firm, today reported that it has agreed to provide its private label portal services to USAA Federal Savings Bank, headquartered in San Antonio.
    Westar will decision, commit to and fulfill automobile leases originated by USAA Federal Savings Bank for its members.

About Westar

    Westar recently announced record quarterly income of $.18 per share for the quarter ended December 31, 2000 largely driven by record revenues for the quarter of $110 million, an increase of 300% from the prior year. WEST is the leading publicly traded automobile-oriented financial portal. Westar originates, decisions, commits to and fulfills consumer financings for itself or others, using sophisticated decision tools and high-speed communications to assure transparency to all parties to the transaction. Westar completed the first entirely electronic Internet automobile purchase and lease transaction in October 1999. The company operates its Dealer Direct Retail Leasing program in western states and is rapidly expanding its e-finance activities nationally through alliances with AmSouth Bancorporation, Mellon Bank, USAA FSB and others.

About USAA Federal Savings Bank

    USAA Federal Savings Bank is a wholly owned subsidiary of USAA, which has been serving military families since 1922 and has become one of America's leading insurance and financial services companies. The association, well known for its exceptional service, offers its 4.5 million members a comprehensive range of insurance, banking and investment products and services designed to help them meet their financial needs.

    Statement regarding "Forward Looking Statements": Statements concerning future performance, developments or events, including projected profit and loss levels, expansion of operations, growth of loan originations, quality of the company's lease portfolio, the ability to place securitizations, success of the e-commerce model, trends in interest rates, various statements concerning expectations for growth or profits and any other guidance on future periods, constitute forward-looking statements which are subject to a number of risks and uncertainties which might cause actual results to differ materially from stated expectations.