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Feagles Named President Of World Omni Financial Corp.

9 October 1998

Feagles Named President Of World Omni Financial Corp. And Executive Vice President Of JM Family Enterprises

    DEERFIELD BEACH, Fla., Oct. 8 -- Louis Feagles has been named
president of World Omni Financial Corp., Deerfield Beach.  World Omni, with
assets in excess of $9 billion, finances the purchase and lease of new and
used vehicles at automobile dealers throughout the country, and provides
financing for dealer inventories.  Feagles replaces Daryl Smith, whose
resignation was regretfully accepted only after a series of discussions
initiated by Smith in which he made it clear that he wanted to explore
opportunities outside the company.
    In addition to Feagles' new position at World Omni, he also has been named
executive vice president of the parent company, JM Family Enterprises.
Previously, Feagles had been Chief Executive Officer for the Auto Finance
Group of KeyCorp, Cleveland, Ohio.  He has extensive experience in the
automobile finance industry with over a decade at Chrysler Corp.  Thereafter,
he worked at Marine Midland Auto Finance and also at Ford Motor Company's
Primus Automotive Financial Services unit.
    "Lou's scope of knowledge and understanding of the auto finance industry
will ensure the continued strength and prosperity of World Omni," said Colin
W. Brown, chief operating officer of JM Family Enterprises.  "We appreciate
Daryl Smith's significant contribution to our company and wish him the very
best in his new endeavors."
    JM Family Enterprises, Inc., ranked by Forbes magazine as the 27th largest
privately held corporation in the United States, is a diversified automotive
corporation whose principal businesses focus on vehicle distribution and
processing, finance and warranty services, and insurance activities.  World
Omni Financial Corp., based in Deerfield Beach, operates customer service
centers in Mobile, Ala., and St. Louis, Mo.