ECCO Capital Completes Private Placement Financing

7 October 1998
ECCO Capital Completes Private Placement Financing
 Twin Cities-Based Company to Use Proceeds to Fund Expansion of Auto Leasing
                                  Subsidiary

    MINNEAPOLIS, Oct. 7 -- ECCO Capital Corporation
(OTC Bulletin Board: ECCP) announced today the Company has completed a private
placement equity financing.  Barron Chase Securities, Inc., Beverly Hills,
Calif., managed the offering.
    Cullen Grandlund, President and Chief Executive Officer of the Company,
stated, "The proceeds of this financing will allow us to move forward with the
expansion we have planned for our subsidiary, Metro Fleet Sales and Leasing."
    ECCO Capital Corporation was formed in 1997 when Metro Fleet Sales and
Leasing, Inc. of St. Louis Park, Minnesota merged into a dormant public shell.
Metro Fleet Sales and Leasing has been engaged since 1993 in the business of
offering and operating a unique leasing program featuring reliable used cars
which are leased at attractive low monthly rates.  Recently, the Hennepin
County Private Industry Council recommended approval of Metro Fleet Sales and
Leasing to the Hennepin County Board of Commissioners as a provider of
inexpensive used vehicles under short term leases to county residents.
Hennepin County is the largest county in Minnesota and includes the city of
Minneapolis.
    Forward-looking statements contained in this press release are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.  There are certain important factors that could cause
results to differ materially from those anticipated by the statements made
herein.  Reference is made to the company's Private Placement Memorandum,
dated August 18, 1998, which is incorporated herein by reference, for a fuller
description of certain of such factors.
    For more information, call Bill Bartkowski, Managing Director of Swenson
NHB, 612-344-1012 Direct, 888-642-1955 Toll Free, for ECCO, or Cullen
Grandlund, Chief Executive Officer of ECCO Capital Corporation, 612-546-1348,
612-546-2538 Fax.