Advent Resources Forms F&I Training School, Automotive Dealership Institute

    SAN PEDRO, Calif.--Oct. 22, 2002--Advent Resources Inc., the nation's leader in the development of high quality, cutting-edge retail automotive software solutions, has launched the newly formed Automotive Dealership Institute. The new school, which has filed a school license application with the California Bureau for Private Postsecondary and Vocational Education, will offer a four-week finance and insurance management course called Dealership Finance Management. The first class is scheduled for Jan. 6, and subsequent classes will be held on a monthly basis throughout the year.
    "The curriculum, like the school, is brand new, making it the most current of any in the nation," says Timothy Gill, Advent Resources' CFO and Director of Operations. "We believe the Automotive Dealership Institute will become the top training ground for F&I managers in California."
    The comprehensive four-week, 160-hour curriculum features hands-on training on Advent Resources' proprietary F&I software, and includes expert instruction on prime and non-prime deal structuring, retail leasing, aftermarket products and menu presentation, legal compliance and lender relations. State-of-the-art student workstations contain IBM notebook computers and replicate authentic dealership finance offices.
    Students will learn automotive loan underwriting from the dual perspective of the dealership and the lender, assuring that deal structuring conforms to specific lender guidelines. Enrollment is limited to 14 students to ensure a quality student-teacher ratio. Graduates will receive state-approved diplomas and be placed at top dealerships throughout California.
    Alan Algan, who has spent more than 12 years as an owner/president and director of operations, respectively, of two Southern California F&I schools, has been selected to run the Automotive Dealership Institute. He is responsible for establishing the Institute's policies and procedures, as well as overseeing daily operations and long-term strategic planning. In 1992, Mr. Algan wrote "Automotive F&I Management," the first book of its kind admitted and catalogued in the U.S. Library of Congress in Washington, D.C.
    "I have been involved in the startup of two F&I schools, and this promises to be the best one yet," Mr. Algan says. "Our students will receive password-protected access to Advent Resources F&I software, so they can practice deals at home using the same system actually in operation at a large number of dealerships nationwide. The Automotive Dealership Institute is the only F&I school in the nation to offer such a major advantage to its students."
    Having home access to Advent software means students can progress more rapidly, completing as many "live" deals as they can manage. Access continues for 30 days after graduation.
    Advent Resources was formed in 1988 to develop dealership point-of-sale software systems. These systems focus on inventory management, lead tracking, lease and finance calculation and contract preparation and submission. Today, Advent supports more than 300 dealerships and enjoys a growing market share, especially in Southern California, its home market.