Payless Car Sales Records Rapid Growth; Area Developers Have Nine Open Locations and Another 38 Approved and Pending Locations in First Three Months

    TULSA, Okla.--June 12, 2002--Tulsa-based Dealer Diversified LLC and St. Petersburg-based Dealer Alliance, Inc., area developers for Payless Car Sales, have nine open Payless Car Sales franchise dealerships and have another 38 approved and pending locations in the program's first three months, with 20 of the approved and pending locations scheduled to open prior to July 31, 2002.
    Payless Car Sales, a recently formed subsidiary of Avalon Global Group, Inc. and a sister company of Payless Car Rental System, announced a new franchise program for independent used car dealers in February, 2002, and selected Dealer Diversified and Dealer Alliance as its franchise area developers in the United States.
    "Payless Car Sales is extremely pleased with the work of our area developers and is leveraging their success to increase the growth momentum in other entities at Avalon Global Group," said Rick Stevens, president of Payless Car Sales and CFO of Avalon Global Group. "Our primary investor relationship has also been significantly enhanced by the performance and potential of Payless Car Sales."
    In addition, Dealer Diversified has just announced new investment partnerships with Indianapolis-based FleetMax and Auction Broadcasting Company (ABC). FleetMax is the largest registered importer and wholesaler of used vehicles in the United States, while ABC is one of the nation's largest auto auction companies.
    "It's a great start to our goal of signing 50 Payless Car Sales locations across the country in 2002," said Phil Morgan, President and CEO of Dealer Diversified. "The attraction of the Payless brand name and the addition of several key preferred providers for our used car dealers have been two of the primary factors behind this fast start."
    Payless Car Sales provides independent car dealers its nationwide brand image and relationships as part of a comprehensive franchise program while encouraging them to maintain and build upon any pre-existing dealer identity and consumer goodwill in their local markets.
    "Our tremendous success in signing these new Payless franchises has resulted in substantial growth for our company as well," Morgan adds. "We have hired several new employees - many that were recently laid off from other Tulsa companies - and anticipate significant future expansion. It is very satisfying for us to create new jobs during this somewhat difficult local business environment."

    About Payless Car Sales

    Payless Car Sales is a wholly owned subsidiary company of Avalon Global Group, Inc. and a sister company to Payless Car Rental System, Inc, a Florida corporation that serves auto rental locations in more than 120 cities in 20 countries. Avalon Global Group, Inc., Payless Car Sales, Inc. and Payless Car Rental System, Inc. are privately held corporations headquartered in St. Petersburg, Fla.

    About Dealer Diversified

    Dealer Diversified is a unit of the Diversified Group, a Tulsa company made up of several business units that provide products and services to Payless Car Sales Dealers and Payless Car Rental Operators as well as other segments of the automotive industry. In addition to Dealer Diversified, the company's other units include: Diversified Systems & Services, Diversified F&I Products, and Diversified Solutions.