Falcon Financial Launches Division to Provide Capital to Car Care Industry

    STAMFORD, Conn.--April 17, 2001--The leading provider of long-term capital to the automotive retailing industry, Falcon Financial, LLC, has launched a new division to provide financing to operators of convenience stores, gas stations, quick lube centers and car washes.
    "Convenience and gasoline retailers and operators of quick lubes and car washes continue to experience growth and consolidation. These activities necessitate having an efficient source of capital to finance new and existing store acquisitions and resultant mergers," said Vernon B. Schwartz, chief executive officer of Falcon Financial. "Falcon Financial has a proven track record of providing this type of capital to car dealership operators and will deliver the same level of professionalism, experience, efficiency and reliability to the car care sector."
    As part of today's announcement, Ed Fransen, Chris Goodrich and Graeme Kavanagh have joined Falcon Financial's Car Care Division to lead its marketing activity on a national basis.
    Falcon Financial has earned itself a reputation as a company that delivers on its commitments. Even when market conditions are turbulent, Falcon Financial has demonstrated that it can be relied upon to perform.
    Falcon Financial offers business loans that are designed to provide operators with the financing structures necessary to grow and prosper in today's rapidly changing business environment. Because Falcon Financial recognizes and lends on business cash flow as well as real estate value, borrowers are likely to obtain loan proceeds well in excess of real estate value and higher than available from traditional lenders.
    Falcon Financial is owned by senior management of the company, SunAmerica Inc. and an affiliate of Goldman, Sachs & Co.

    EDITOR'S NOTE: For additional information on Falcon Financial services, contact the company at 2015 West Main Street, Stamford, Conn., 06902, (800) 771-5400.