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Monaco Finance Announces Change of Recently Appointed CEO

24 February 1999

Monaco Finance Announces Change of Recently Appointed Chief Executive Officer

    DENVER, Feb. 24 -- Monaco Finance, Inc.
(OTC Bulletin Board: MONFA) reported that Chief Executive Officer James T.
Moran and the Company were unable to reach mutually acceptable terms of
employment and that Mr. Moran will not continue as Director and Chief
Executive Officer, effective February 20, 1999.
    Monaco Finance, which is based in Denver and operates in 22 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.
    The forward-looking statements included herein are based on current
expectations that involve numerous risks and uncertainties.  Assumptions
relating to the foregoing involve judgments with respect to, among other
things, future economic, competitive and market conditions and future business
decisions, all of which are difficult or impossible to predict accurately and
many of which are beyond the control of the Company.  Although the Company
believes that the assumptions underlying the forward looking statements are
reasonable, any of the assumptions could be inaccurate and therefore, there
can be no assurance that the forward-looking statements included herein will
prove to be accurate.  In light of the significant uncertainties inherent in
the forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by the Company or any
other person that the objectives and plans of the Company will be achieved.