Northeast Auto Acceptance Corp's. Second Quarter Revenue Rises 25% to $14.7 Million

MERRICK, N.Y.--Sept. 7, 2005--Northeast Auto Acceptance Corp. (OTC: NAAC) announced today that the company's second quarter 2005 revenue rose to $14,755,294, a 25% increase over the $11,034,749 the company reported for the second quarter of 2004. For the six-month period ended June 30, 2005, the company posted total revenue of $28,680,004, versus $21,125,136 for the same period in 2004, a 26% increase.

Bill Solko, Northeast's CEO commented, "We're very happy with the results of the second quarter and the first half of the year. Although rising fuel prices have created a more challenging business environment, we have yet to see any major fallout in the market place. While sport-utility vehicles and light trucks continue to account for nearly 75% of our sales, we look forward to any potential opportunities that the market might present us with. We have the ability to adapt very quickly, and the resources to profit from any changes in the market, so we really feel that in the event that fuel prices continue to rise, we will be even more profitable. We are looking forward to the second half of 2005, and for the opportunity to continue to serve the needs of our growing customer base."

About Northeast Auto Acceptance Corp.

Northeast Auto Acceptance Corp. focuses on the wholesale segment of the auto industry. The company specializes in the marketing of vehicles on a national basis, which allows them to take advantage of seasonal and geographical pricing disparities. Northeast, a leader in this highly fragmented industry, has sold more than $250 million worth of vehicles during its 11 years of operation. The company has offices in the New York metropolitan area.

STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Statements other than historical facts contained in this press release are "forward-looking statements". Such statements are based on management's beliefs and assumptions, and on information currently available, and involve uncertainties and other factors which may cause our actual, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by these forward- looking statements. Factors include, among others, our ability to finance our operations and the ability to obtain such financing; the successful completion of any prior and future acquisitions; any uncertainties relating to the integration of acquired businesses and operations; any disputes with, and claims asserted by, our creditors and other third parties; uncertainties relating to business and economic conditions in markets in which we operate; uncertainties relating to customer plans and commitments; the timely development and market acceptance of our products; and the highly competitive industry in which we operate. We undertake no obligation to update any forward-looking statements in this press release.