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Westar Financial Services Names Scott Cavanaugh as Vice President-Collections

22 June 1999

Westar Financial Services Names Scott Cavanaugh as Vice President-Collections

    OLYMPIA, Wash., June 22 -- Westar Financial Services
Incorporated (OTC Bulletin Board: WEST), a prime-credit auto lender and
lessor, today announced that it has recruited Scott Cavanaugh as
Vice President-Collections.
    Cavanaugh joins Westar from Bank of America, where he was Vice President
and Collection Manager since 1995 and was responsible for  the collection,
recovery and remarketing process for their $6.5 billion dollar northwestern
consumer loan and lease portfolio, including its $2.7 billion automobile
dealer segment.  He was previously employed at Ford Motor Credit Company,
culminating in a position of Branch Operations Manager, where his duties
included customer service and collections.
    "Scott brings a great deal of experience to Westar.  His records at both
Bank of America and Ford are exemplary," said Robert E. Kanatzar, Senior
Vice President-Risk Management.  "As our company has broadened its geographic
reach, dramatically increased its volumes and begun its expansion into
e-commerce through our agreement with Driveoff.com, we decided to recruit a
first-tier credit officer to supplement our quality oversight capabilities and
maintain our prime credit quality portfolio.  Westar tries to be pro-active in
terms of our capacities and capabilities.  The best way to assure that we
maintain our very high quality standards is to add people like Scott, with his
billions of dollars of experience, earlier rather than later.  We are
confident that he will be an excellent addition to our management team."
    Westar announced last week that it agreed to fund more than $1 billion per
year of prime-credit auto loans and leases through Driveoff.com, the new
Internet model for automotive commerce that will be opening this summer.
    "My decision to move to Westar was an easy one, based upon the people, the
business plan and the innovative thinking.  The company offers an exciting and
challenging future.  In fact, it is the future, today," said Cavanaugh.  A
native of Portland, OR., Cavanaugh resides in Seattle with his wife Melissa.
Cavanaugh is a graduate of George Washington University, having earned a
Bachelor of Arts Degree in International Economics in 1988.
    Westar Financial Services Incorporated is a fast-growing, Washington-based
automobile finance company which has focused solely on the prime-credit
segment of the $110-billion auto-lease finance market.  Westar has announced
its entry into automotive e-commerce through a $1 billion funding commitment
to DriveOff.com, a 3rd generation e-commerce business model allowing consumers
to buy and finance new automobiles in a single electronic transaction.
Westar's shares are traded over-the-counter by Hill Thompson, Jersey City;
Sharp Capital, New York, NY; and Monroe Securities, Rochester, NY.