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Western Fidelity Funding, Inc. Seeks Chapter 11 Protection

7 August 1997

Western Fidelity Funding, Inc. Seeks Chapter 11 Protection

    DENVER, Aug. 7 -- Western Fidelity Funding, Inc., announced
that it filed a petition in the United States Bankruptcy Court for the
District of Colorado for protection under Chapter 11 of the Bankruptcy Code on
August 4, 1997.
    In its Annual Report on Form 10-KSB for the year ended December 31, 1996
which indicated that if it was unable to enter into satisfactory arrangements
with its creditors, obtain additional financing or enter into a business
combination, it was likely that the Company would have to file for protection
from its creditors under the United States Bankruptcy Code.
    Until April 1997, when the Company was forced to limit its business,
Western Fidelity Funding, Inc. was a specialized consumer finance company
engaged in financing the purchase of used automobiles for borrowers who have
limited access to traditional sources of credit.  The Company also acquired
dealer originated retail installment contracts from franchised and independent
automobile dealers in 19 states.

SOURCE  Western Fidelity Funding, Inc.