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Westar Financial Begins Regional Operations in Minneapolis

27 August 1999

Westar Financial Begins Regional Operations in Minneapolis

    OLYMPIA, Wash. and MINNEAPOLIS, Aug. 26 -- Westar Financial
Services Incorporated (OTC Bulletin Board: WEST), a prime-credit auto lessor,
today announced the launch of its North Central Regional operations, centered
in Minneapolis.  The North Central region is the third for the company, which
also competes in the Pacific Northwest Region from Olympia, Wash. and the
Southwestern Region centered in Phoenix, Ariz.
    "We completed extensive market research on demographics, competition and
growth trends in the North Central Region and identified the market as ideal
for our high-quality auto lease programs," said R. W. Christensen, Jr.,
Westar's President and CEO.  "Our expansion into this region will accelerate
our lease originations, which have almost tripled in the past 12 months.  We
look forward to the opportunity to bring our standard of high service and
competitive pricing to dealers and consumers east of the Rocky Mountains for
the first time."
    "The North Central Region is an exciting expansion for us," said Robert E.
Kanatzar, Vice President -- Risk Management.  "Our goal is to obtain a 5%
market share in the new Region, or approximately $100 million in annual lease
originations, within the next 18 months.  We are already in the process of
signing some of the biggest and best dealers, and expect to begin originating
leases immediately.  In our Southwestern launch, we ranked in the top 10 in
lease volume of all automobile lessors within the first 90 days.  If we can
match that, we'll be very pleased."
    Westar Financial Services Incorporated is an innovative, fast-growing,
Washington-based automobile financing company.  WEST is the only publicly
traded automobile lease finance company 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.
    Statement regarding "Forward Looking Statements": Statements concerning
future performance, developments or events, including the ability to penetrate
new markets and capture market share, gain product acceptance, or any other
guidance on future periods, constitute forward-looking statements which are
subject to a number of risks and uncertainties which might cause actual cause
results to differ from stated expectations.