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National Auto Credit Reaches Accord with Lenders

19 March 1998

National Auto Credit Reaches Accord with Lenders

    SOLON, Ohio, March 19 -- National Auto Credit, Inc.
, announced today that it has reached an agreement with its lenders
to defer principal payments due under its credit agreements.  The payments
were due on March 16, 1998.
    The terms of the Company's agreement with its lenders provide that the
debt will mature on May 29, 1998.  The Company will make a $6 million
principal payment on March 19, 1998 and make principal and interest payments
aggregating $625,000 per week until May 29, 1998.  The Company intends to meet
such payment obligations to its lenders and maintain the Company's business
and operations out of internally generated funds, until it secures alternative
sources of funds.
    The Company is pleased with the progress made with its lenders and will
continue to cooperate and work with them and the Company's other
constituencies to regain the support and confidence of the business and
financial community.
    The statements contained in this release that are not purely historical
are forward looking statements within the meaning of the Securities and
Exchange Act of 1934.  Among the factors that could cause actual results to
differ materially from the forward looking statements are the potential for
greater than anticipated non-performing contracts, the potential for lower
than anticipated recoverability of amounts advances to the Company's member
dealers, availability of funds under the Company's financing arrangements, and
other factors as discussed in the Company's reports filed with the Securities
and Exchange Commission.

SOURCE  National Auto Credit, Inc.