Westar Financial Signs Leasebanc as Fourth Private Label Partner

    TUMWATER, Wash. & AUSTIN, Texas--Sept. 13, 2001-- Westar Financial Services Incorporated (OTC:WEST), the leading automobile e-finance company, announced today that it will provide its private label solution to LEASEbanc(TM), an online financial institution providing vehicle leasing.
    "LEASEbanc is a pioneer in online auto leasing with a complete, customer-friendly solution that is gaining support across the country," said Darcy Huffman of Westar's Strategic Alliance Group. "We view this alliance as an excellent opportunity to expand our Internet based business channel." LEASEbanc is the sole provider of vehicle leasing services for E-loan , LendingTree , NADAGuides, and DriveHome.com, the Citi/Associates auto finance site .
    "Westar's leading-edge decisioning and communications technologies, coupled with its exclusive lease securitization capabilities, provide a unique and complete system to support our growing automotive leasing business," stated Jerry Thompson, CEO of LEASEbanc. "Their unique technology supports a first-rate customer service team, which mirrors our dedication to provide LEASEbanc customers with a high-tech and high-touch experience."
    "We are delighted that our combination of technology and service meets LEASEbanc's need for quality, efficiency and precision," said R. W. Christensen, Jr., President and CEO of Westar. "LEASEbanc is a nationwide service and extends the geographic penetration of our private label business. We are particularly excited about the opportunities in the Texas market due to recent elimination of certain taxes on leased property."

    WEST is the leading publicly traded automobile-oriented e-commerce financial portal and ASP. Westar originates, decisions, commits to and fulfills consumer financings for itself or others. Westar completed the first entirely electronic Internet automobile purchase and lease transaction in October 1999. The company operates in the western states and nationally through alliances with AmSouth Bancorporation, Mellon Bank, USAA FSB and others. For more information on Westar visit www.westarfinancial.com.

    LEASEbanc redefines auto leasing by providing its partners and customers with an end-to-end leasing solution that embraces the emerging trend of online vehicle financing and combines high-tech and high-touch in a unique way to offer a low cost, customer- focused vehicle leasing experience to consumers. For more information on LEASEbanc visit www.leasebanc.com.

    Statement regarding "Forward Looking Statements": Statements concerning future performance, developments or events, levels, expansion of operations, growth of consumer financial originations, quality of the company's lease portfolio, the ability to place securitizations, success of the e-commerce model, trends in interest rates, overhead expense variations, results of the year-end audit, 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.