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TFC Enterprises Announces Staff Addition

7 November 1997

TFC Enterprises Announces Staff Addition

    NORFOLK, VA, Nov. 7 -- TFC Enterprises, Inc.
today announced that its subsidiary The Finance Company (TFC) has hired
Timothy B. Ivey as Vice President and General Manager of its Portfolio
Purchase Service Center in Jacksonville, Florida.  In his new position, Mr.
Ivey will be responsible for the overall management of the office that
services all of TFC's auto finance contracts purchased from dealers on a
portfolio basis.
    "We are very pleased to have Tim join our management team," said Robert S.
Raley, Jr., TFCE's Chairman, President and Chief Executive Officer.  "The
Jacksonville Service Center is critical to our operations, and Tim brings us
many years of successful experience with a highly regarded national non-prime
auto finance company," added Mr. Raley.
    TFC Enterprises, Inc., through its wholly owned subsidiary The Finance
Company, specializes in purchasing and servicing installment sales contracts
originated by automobile and motorcycle dealers.  Through First Community
Finance, Inc., TFC Enterprises, Inc. is involved in the direct origination and
servicing of small consumer loans. Based in Norfolk, VA, TFC Enterprises,
Inc., has offices of The Finance Company in Dallas, TX; Jacksonville, FL;
and San Diego, CA, in addition to Norfolk; and offices of First Community
Finance in Virginia and North Carolina.

SOURCE  TFC Enterprises, Inc.