AutoCorp to Service 12,000 Customer, $78M Loan Portfolio; Record Loan Sales

FRISCO, Texas, May 6, 2003 -- AutoCorp Equities, Inc. (BULLETIN BOARD: ACOR) announced that its subsidiary, AutoCorp Financial Services, Inc., signed its first large credit union loan portfolio servicing contract. The company has begun to service a $78 million dollar, 12,000- customer portfolio for the Houston Postal Credit Union. This is a significant size increase for AutoCorp Financial Services' loan portfolios under management.

AutoCorp Financial Services, Inc. (www.autocorp.net ), had the largest revenues in a 30-day period since the Credit Union Participation Investments program started June, 2002. The company's last 30-day revenues exceeded $1 million, which was approximately a 100% increase over any previous 30-day period.

About AutoCorp Equities.

AutoCorp Equities is a publicly traded company that specializes in the purchase, sale and servicing of all types of prime to non-prime consumer loans to include automobile, credit card and revolving lines of credit. The company has also created a system of credit union loan participation investments, where it provides vehicle loan portfolios, payment servicing and asset management for its investment partners. AutoCorp is striving to expand its unique credit union investment program, becoming the leader in this vast and lucrative market.

The statements contained in this release, which are not historical statements of fact, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve a number of risks and uncertainties. The actual results of future events could differ materially from those stated in any forward-looking statements herein.

For further information call Terri Ashley at 1-214-618-6400 or email tashley@autocorp.net .