Prime Capital Signs Lease Administration Partnership With Limousine Coach Builder

21 July 1999

Prime Capital Signs Lease Administration Partnership With World's Largest Limousine Coach Builder

    ROSEMONT, Ill.--July 21, 1999--Prime Capital Corporation announced today that its specialty vehicle division, Capital Alliance Financial Services ("CAFS"), has signed a lease administration agreement with Edson Financial, Inc., the captive finance affiliate of Krystal Koach, Inc., of Brea, California, the world's largest limousine coach builder.
    Under the agreement, CAFS will provide a full service private label finance solution to Edson Financial. In addition to being recognized as the world's largest limousine manufacturer, Krystal Koach also produces funeral cars and shuttle buses. In 1999, Krystal Koach will sell approximately 1,800 vehicles with revenues in excess of $120 million.
    James A. Friedman, Chairman and Chief Executive Officer of Prime, stated: "We are committed to providing the utmost in service to Krystal Koach and look forward to a mutually profitable relationship. This partnership is significant for Prime and further strengthens CAFS as one of the nation's largest lenders in the specialty vehicle market. As a result of this contract, we are increasing our FY 2000 forecast for CAFS."
    Steven Pressler, Vice President and Director of Edson Financial noted that several factors were prominent in the decision to sign the agreement with CAFS. "We have been using Prime's recently launched e-commerce center for several weeks and have found their technology and service level to be superior to their competitors. Furthermore, CAFS' industry expertise, and commitment to our businesses were equally important in this decision."
    CAFS is a recognized leader in the specialty vehicle finance market for shuttle buses and limousines; and is the number one provider of financing to the funeral car market. CAFS, a de novo business for Prime in October 1997, provides inventory floorplan financing to dealers of specialty vehicles as well as customized leasing and finance programs.
    Prime Capital Corporation, headquartered in Rosemont, Illinois, is one of the nation's largest independent, publicly-held providers of capital and specialty finance services primarily to the software, communications, specialty vehicle, and healthcare industries. Directly, or through private label vendor programs with leading manufacturers, Prime has facilitated the financing of more than $1.6 billion of equipment for acquisition by its clients, including major medical centers, hospital, Fortune 1000 corporations, and other major firms. Prime serves clients nationally through its headquarters and six regional offices.

The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties, including, without limitation, demand and competition for the Company's products, and other risks or uncertainties detailed in the Company's Securities and Exchange Commission filings.