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The Aegis Consumer Funding Group, Inc. Elects New Chairman of the Board

3 March 1999

The Aegis Consumer Funding Group, Inc. Elects New Chairman of the Board

    MARIETTA, Ga., March 3 -- The Aegis Consumer Funding Group,
Inc. (OTC Bulletin Board: ACAR) today announced that Donald E. Bender was
elected Chairman of the Board.  Mr. Bender has served as financial advisor to
Prairie Boy Investments, Inc. ("Prairie"), the Company's largest shareholder.
Mr. Bender has over 15 years experience in the sub-prime automobile financing
field, including serving as head of finance, for the Bennett Automotive Group,
the largest sub-prime automotive group in the south-east.
    The Company further announced that Matthew B. Burns has resigned,
effective February 23, 1999, from all positions as President, Chief Executive
Officer and Director of the Company, its subsidiaries and affiliates.  Aegis
has commenced a search for a new President and Chief Executive Officer, and
expects to conclude the search expeditiously.
    On February 23, 1999, the Company executed a Management Agreement with
Prairie Boy Investments, Inc. ("Prairie"), the Company's largest shareholder,
granting Prairie the authority to manage the day-to-day operations of the
Company in conjunction with executive management and subject to the oversight
and direction of the Company's Board of Directors.
    Based in Georgia, The Aegis Consumer Funding Group, Inc., is a holding
company whose principal operating subsidiaries are engaged in the consumer
finance business primarily serving the sub-prime credit market for automobile
loans.  The Company maintains offices in Georgia and Kansas.  The Company
provides new and used car financing in over thirty states through licensed
automobile dealers.
    This press release contains forward-looking statements regarding future
events and future performance of the Company that involves risks and
uncertainties that could materially affect actual results.  Investors should
refer to documents that the Company files from time to time with the
Securities and Exchange Commission for a description of certain factors that
could cause actual results to vary from current expectations and
forward-looking statements contained in this press release.  Such filings
include, without limitation, the Company's Form 10-K, Form 10-Q and Form 8-K
reports.