---

BankBoston Dealer Finance Provides $14M in Financing to Gene Brown Motors

24 June 1999

BankBoston Dealer Finance Provides $14 Million in Financing to Gene Brown Motors, Inc.

    BOSTON--June 23, 1999--BankBoston Dealer Finance Inc. today announced that it has provided a $14 million credit facility to Gene Brown Motors, Inc. Headquartered in Boston, Gene Brown Motors is comprised of Boston Volvo and Honda Village of Boston and Newton.
    The funds will be used for the acquisition of the stock, real estate and inventory of Charles River Saab and Saab of Framingham.
    "Gene Brown Motors has been a client for more than 25 years, and we are excited to support the company in this strategic acquisition," said Pamela Finegan, division executive, BankBoston Dealer Finance. "The strength of its management is supported by the company's profitability and high customer service index scores. Saab is well known for its high-quality product line and is a great addition to the Gene Brown family of stores."
    "BankBoston's outstanding reputation is well justified," said Ray Ciccolo, president of Gene Brown Motors, Inc. "We are very fortunate to team up with a local partner so well-versed in the dealer finance industry."
    BankBoston , with assets of $75.7 billion and some 25,000 employees, is the nation's oldest commercial bank. BankBoston is engaged in consumer and business banking in New England; delivering sophisticated financial solutions to corporations and governments nationally and internationally; and full-service banking in leading Latin American markets. The Corporation's common stock is listed on the New York and Boston stock exchanges.