---

National Auto Credit Announces Appointment

14 July 1998

National Auto Credit Announces Appointment of Vice President of Information Services

    SOLON, Ohio, July 14 -- National Auto Credit
(OTC BULLETIN BOARD: NAKD) (NAC) announced today that Steven Jaeger has been
promoted to Vice President of Information Services.  In this position, Jaeger
will be responsible for all internal information technology systems which
includes the upgrading of those systems, as well as the installation of new
applications.  He will report to Ed Anderson, Acting President of NAC.
    Jaeger, who brings 25 years of experience in information technology,
formerly worked as a senior level information executive for divisions of
NationsBank and Englehard Corporation. He joined NAC in December 1995 as
Director of Information Services.  His background areas include strategic
planning, corporate budgeting, implementation of complex business applications
and administrative management.
    "Steve is playing a vital role in the upgrade of our computer systems and
his promotion recognizes the importance of technology to our Company," says
Anderson.
    "I welcome the opportunity to direct the installation of state-of-the-art
information systems, which will allow us to significantly impact the growth of
our business and to provide NAC with a competitive advantage," says Jaeger.
    Jaeger, 55, earned his degree in finance and economics from David Myers
University in Cleveland.  He is married, lives in Brecksville, Ohio, and has
one daughter.
    National Auto Credit is a specialized financial services company. It
provides funding, receivables management and collection services to automobile
dealers who sell and finance the purchase of pre-owned vehicles to retail
consumers who are employed, but have little or no access to consumer credit.
    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 advanced 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.