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Monaco Finance Announces Special Shareholder Meeting

8 October 1998

Monaco Finance Announces Special Shareholder Meeting

    DENVER--Oct. 7, 1998--Monaco Finance, Inc. (Nasdaq National Market: MONFA), a sub-prime automobile lender, announced today that it will hold a Special Meeting of Shareholders on November 12, 1998 for the purpose of considering a one-for-five reverse stock split of the Company's Class A and Class B Common Stock.
    Shareholders of record at the close of business on September 25, 1998 are eligible to vote at the Special Meeting of Shareholders. Further information related to the meeting is contained in the Company's proxy statement filed with the Securities and Exchange Commission on October 6, 1998.
    Monaco Finance, which is based in Denver and operates in 33 states, is one of the nation's most experienced secondary auto finance companies specializing in acquiring, from automobile dealerships, retail installment contracts of purchasers of new and late model automobiles. Monaco has developed sophisticated credit evaluation systems and state-of-the-art loan monitoring programs to provide a solid platform for future growth.