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CONTIFINANCIAL CLOSES SALE OF TRIAD

14 June 1999

    NEW YORK--June 14, 1999--ContiFinancial Corporation has closed the previously announced sale of Triad Financial Corporation, a non-prime auto finance company, to Fairlane Credit LLC, a wholly-owned subsidiary of Ford Motor Credit Company.
    ContiFinancial Corporation is a diversified financial services company, with headquarters in New York City and over 3,000 employees nationwide. The Company, through ContiMortgage Corporation and other subsidiaries, is a leading originator, securitizer, servicer and seller of home equity loans made to borrowers whose needs may not be met by traditional financial institutions. In addition, through Keystone Mortgage Partners, LLC, the Company arranges financing for a wide range of commercial real estate. Through ContiTrade Services L.L.C., the Company also provides financing and securitization services and, through ContiFinancial Services Corporation, bond placement services, for subsidiaries and other originators of a broad range of loans including home equity loans; home improvement loans; franchisee loans and charged-off consumer debt.