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T&W Financial Increases Presence in Car Wash Equipment Niche

22 April 1999

T&W Financial Increases Presence in Car Wash Equipment Niche

   Company Forms Autec Financial Services Joint Venture to Focus on Leasing
      Equipment to the Car Wash and Gasoline Convenience Store Industry

    TACOMA, Wash., April 22 -- T&W Financial Corporation
today announced the formation of Autec Financial Services
Company, L.L.C. ("AFSC"), a joint venture which will initially focus on
leasing equipment to the car wash industry.  T&W Financial Services Company
owns the majority of the AFSC leasing joint venture with AUTEC, Inc., a car
wash equipment provider in Statesville, North Carolina.
    Michael Price, chief executive officer of T&W Financial said, "The car
wash industry represents another under-serviced national market niche which
could benefit from T&W's innovative leasing programs.  We are excited to team
up with AUTEC, which has tremendous experience in manufacturing and
distributing car wash-related equipment.  The customers of our Autec Financial
Services joint venture, which include car washes, service stations,
convenience stores and new car dealerships, are a great match to T&W's credit
and market parameters."
    AUTEC, Inc., established in 1981, is a manufacturer of automotive washing,
polishing, and drying equipment; a distributor of water recycling equipment
and a maker of soaps, polishers, rinses and other products used in conjunction
with the company's car wash equipment.  AUTEC also manufactures a stainless
steel car-washing unit.
    Thomas Price, president of T&W Financial added, "With this joint venture,
originations are not limited to AUTEC's car wash equipment but may include
equipment used in the petroleum or convenience store setting.  For example,
additional equipment could include automotive equipment used at new car
dealerships.  We see many opportunities for expansion of our leasing programs
within this industry niche."
    Based in Tacoma, Washington, and founded in 1976, T&W Financial
Corporation is a specialty commercial finance company.  It provides equipment
leasing, focusing primarily on the "small-ticket" sector of the market, which
are leases less than $250,000.  Its customers are small-to medium-sized
independent businesses throughout the U.S. and Canada.
    This release contains forward-looking statements.  These statements are
subject to certain risks and uncertainties that could cause actual results to
differ materially from those anticipated in the forward-looking statements.
Readers should not place undue reliance on the forward-looking statements,
which reflect the management's view only as of the date hereof.  T&W
undertakes no obligations to publicly revise these forward-looking statements
to reflect subsequent events or circumstances.  Readers should also carefully
review the risk factors described in documents T&W files from time to time
with the Securities and Exchange Commission.