Ofek Capital Announces A Pending $5,000,000 Credit Facility To Its Subsidiary AJM Leasing; Increases Access To Capital Offers Potential Of 240% Increase In Income

TORONTO--Nov. 7, 2003--Ofek Capital Corp. (PinkSheet:OFCC) announces that its wholly owned operating subsidiary, AJM Leasing, is currently going through the due diligence phase on its way to finalize a new CDN$5,000,000 (US$3,850,000) credit facility.

This facility is expected to lower AJM Leasing's direct interest expense by over 40%.

This over 150% increase in access to credit facility and the material savings on capital cost should enable AJM Leasing to increase its automobile lease portfolio to approximately 1400 cars at the end of fiscal 2004, to 2950 cars by the end of fiscal 2005, and to continuing the growth to 4600 cars by the end of fiscal 2006. Management estimates that by the end of fiscal 2006, AJM Leasing should post annual revenues of approximately US$12,000,000, Operating income before amortization and interest payments of over US$9,350,000 and net income before Income tax of US$3,000,000.

Shalom Romm, the CEO of Ofek notes, "although on the surface it seems like a 240% increase in income is rather aggressive and optimistic, in reality this may very well prove to be on the conservative side. Upon the closing of this credit facility AJM Leasing should experience a 150% increase in capital availability, a 40% decrease in capital cost and a material increase in its benefit from the fringe prime lending facilitations."

About Ofek Capital

Ofek www.OfekCapital.com is a North American financial services company that operates within the sub-prime lending and financing market. Ofek believes that the sub-prime market is the most lucrative niche in the financial services industry.

Ofek Capital subsidiaries include: AJM Leasing, Mortgage Bankers of North America and SecondaryMarkets.

-- Ofek leases used cars through its Ontario subsidiary, AJM Leasing

-- Mortgage Bankers of North America, a California subsidiary, anticipates offering traditional mortgage banking services in 24 states

-- SecondaryMarkets, a California subsidiary, anticipates the development of a proprietary, patent pending, automated submission and lending approval software system. It will be state-of-the-art and capable of generating immediate loan approval from multiple loan providers

This release as well as the interview and statements made during it contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, which reflect management's expectations regarding Ofek's future growth, results of operations, performance and business prospects and opportunities. These statements reflect management's current beliefs and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. A number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Ofek Capital Corp. takes no obligation to update or correct any or such forward-looking statements.