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AutoBond Acceptance Corporation Reports January Volume

2 February 1999

AutoBond Acceptance Corporation Reports January Volume

    AUSTIN, Texas, Feb. 1 -- AutoBond Acceptance Corporation
(Amex: ABD) ("AutoBond"), listed on the Amex under the symbol ABD, is pleased
to report finance contract acquisition volume of $20 million for
January, 1999.  This compares favorably with an average of $14 million per
month in the fourth quarter, 1998.
    AutoBond currently has 6,531,311 common shares and 1,125,000 preferred
shares outstanding.  AutoBond is a specialty consumer finance company engaged
in underwriting, acquiring, servicing and securitizing retail installment
contracts originated primarily by franchised automobile dealers in connection
with the sale of used and, to a lesser extent, new vehicles to selected
consumers with limited access to traditional sources of credit.  AutoBond is
located in Austin, Texas and acquires contracts nationwide from dealers in
approximately 40 states.
    This press release is not an offer to buy or sell securities or assets of
any kind.