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National Auto Credit Pays Down Debt

11 November 1998

National Auto Credit Pays Down Debt

    SOLON, Ohio, Nov. 11 -- National Auto Credit, Inc.
(OTC BULLETIN BOARD: NAKD) announced today the pay-off of substantially all of
its outstanding lender debt totaling approximately $34.9 million.  The Company
was able to make this payment utilizing a portion of a $46.7 million federal
income tax refund which was received on November 9, 1998.