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SpeeDee Oil Change & Tune-Up Secures $14 Million in Financing

5 May 1999

SpeeDee Oil Change & Tune-Up Secures $14 Million in Financing From FFCA For Development

    MADISONVILLE, La., May 5 -- SpeeDee Oil Change & Tune-Up
announced today that Franchise Finance Corporation of America (FFCA) has
provided $14-Million in financing for the development of 21 automotive service
locations.  The Madisonville, LA-based company has approximately 150 franchise
locations in six regions throughout the U.S. and Mexico City.
    Morton A. Fleisher, Chairman, President and C.E.O. of FFCA, said, "This
past year, FFCA became acquainted with SpeeDee Oil Change & Tune-Up and its
dynamic management team.  Drawing upon their depth of experience in the
automotive service industry, SpeeDee has and continues to focus on
strengthening their market position.  We are pleased to lend SpeeDee our
experience in providing financing for the growth of their business so they, in
turn, can focus on operational performance."
    SpeeDee was founded in 1980 in Metairie, Louisiana in response to a need
for oil change services in a market of declining service station locations and
increasing car counts.  With several years of refinement, franchising began.
Today, each SpeeDee location is a certified auto service center featuring a
full menu of preventive maintenance services performed by trained technicians.
    With its International Headquarters located in Madisonville, LA, SpeeDee
Oil Change & Tune-Up is one of the leading automotive service franchise
organizations in the country and offers the widest variety of automotive
preventive maintenance services including oil changes, tune-ups, air
conditioning service, transmission service and brake service.
    "We feel like the program between SpeeDee and FFCA is the vehicle we have
been looking for to offer our system a sound financing package that will work
to ensure our long term growth in the automotive service industry," commented
Kevin Bennett, Executive Vice President of SpeeDee Oil Change & Tune-Up.
    FFCA is a premier specialty retail finance company dedicated primarily to
the chain restaurant industry as well as the convenience store and automotive
service industries.  FFCA's mission is to be a one-stop finance source for
multi-unit chain store operators and franchisors that own or operate the
retail properties in which FFCA invests.  Mortgaging loans, leasing
alternatives, equipment loans, and construction and acquisition financing are
among some of the custom financing solutions FFCA provides.  As of December 3,
1997, FFCA and its affiliates had investments in approximately 2,500
properties in 47 states including interests in securitized loans.
    Chains represented in the company's portfolio include Applebee's, Arby's,
Burger King, Denny's, Hardee's, Jack in the Box, KFC, Pizza Hut, Taco Bell,
and Wendy's.
    Gary Copp, President of SpeeDee Oil Change & Tune-Up, commented, "Our
senior management staff has worked diligently with the representatives from
FFCA to structure a winning program that we feel will strengthen our market
presence and lead us into the twenty first century".