Melissa G. King Named Senior Vice President of Human Resources at Union Acceptance Corporation

    INDIANAPOLIS--Aug. 5, 2002--Union Acceptance Corporation ("UAC") today announced that Melissa G. King has been named senior vice president of human resources, reporting to Lee Ervin, president. This executive position manages all aspects of human resources including recruiting, training, benefits administration and management development.
    King brings over 13 years of experience in growing and developing high performance organizations. Her experience includes leading and managing strategic business initiatives in a Fortune 100 organization and other smaller organizations. She specializes in organizational design and development, management development, executive coaching and communications.
    "We are excited about Melissa's background and the talent she brings to UAC," said Ervin. "With her presence, we expect significant improvements in our HR-related programs as well as enhanced training and employee development."
    King joins UAC from Made2Manage Systems, Inc. where she served as vice president human resources, responsible for performance management, compensation systems, policies and procedures, recruiting, retention, training and development. She also implemented various employee communication programs. During her tenure at Made2Manage she also served as director of employee services and organizational development, and as a business systems project manager. Prior to her employment at Made2Manage, King held leadership positions at Alcoa Closure Systems International.
    Additional information about Union Acceptance Corporation and its management team can be obtained at the Company's Web site, www.unionacceptance.com.

    Corporate Description

    UAC is one of the nation's largest independent, indirect automobile finance companies. The Company's primary business is purchasing and servicing prime automobile retail installment sales contracts. These contracts are originated by dealerships affiliated with major domestic and foreign manufacturers, nationally recognized rental car outlets and used car superstores. UAC focuses on acquiring receivables related to late model used and, to a lesser extent, new automobiles purchased by customers who exhibit favorable credit profiles. Union Acceptance Corporation commenced business in 1986 and currently acquires receivables from over 5,900 manufacturer-franchised dealerships in 39 states. By using state-of-the-art technology in a highly centralized underwriting and servicing environment, Union Acceptance Corporation enjoys one of the lowest cost operating structures in the independent prime automobile finance industry.