Automotive Capital Group, Inc. Signs Three New Auto Dealers to Financing Agreement; Yearly Gross Contracts Expected to Be Over $5,000,000

Automotive Capital Group Receives Over 75 Online Auto Loan Applications Every Day

SCOTTSDALE, Ariz., Aug. 9 -- Automotive Capital Group, Inc. today announced an agreement with three automotive dealerships to finance their vehicle sales. The combined dealerships are expected to have auto sales of 70 per month with an average selling price of $7,000. This agreement follows an earlier $7 million commitment from a Glendale, Arizona automotive dealer announced in July 2004. Current outside dealer gross contract financing is expected to be over $12,000,000.

Automotive Capital Group, Inc. has been positioning the company to finance the two automobile lots it is acquiring and provide outside financing for other dealers. The Automotive Capital Group, Inc. finance program is unique because it focuses on financing auto dealers for the 25-Billion-Dollar sub- prime automotive market that banks generally neglect. Automotive Capital Group, Inc. has created a finance program that charges favorable interest rates and at the same time is well protected from default vehicle loans.

Automotive Capital Group and eBay

Automotive Capital Group, Inc. announced last week immediate plans to increase sales of around 100 automobiles each month to over 200 at an average price of $10,000. To accomplish this goal the company has launched several programs on the Internet. The company is currently selling on eBay Motors and is one of the first to offer financing to the buyer as part of the online auction. Most vehicles sold each day on eBay Motors need to get financed either before or after the auction closes. With Automotive Capital Group, Inc. financing is included.

This week the company plans to launch two automobile Internet e-commerce sites. This is the first time the company has taken the next step in growth with the 10-year-old financing concept to the World Wide Web. The company believes it can accomplish significant sales by using the Internet as a tool and educate sub-prime borrowers about the company's financing programs. Even without the vehicle website the company receives over 75 online applications per day.

Business Outlook

Automotive Capital Group, Inc. provided guidance last week indicating it currently targets revenue range of $8 to $10 million with earnings of $0.30 per diluted share over the next 12 months. This is expected once the merger of both Colfax Financial and Navicom Inc. are completed.

Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment.

We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties, as well as other uncontrollable or unknown factors, could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements. The guidance above is dependent on closing merger/acquisition of the above listed companies.

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