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Katz Announces His Intention to Resign From AutoBond Acceptance

3 September 1999

Adrian Katz Announces His Intention to Resign From AutoBond Acceptance Corporation by Year's End

    AUSTIN, Texas, Sept. 3 -- AutoBond Acceptance Corporation
(Amex: ABD) ("AutoBond"), listed on the Amex under the symbol ABD, is
announcing that Adrian Katz has informed the company of his intent to resign
as Vice Chairman, Chief Operating Officer and Chief Financial Officer on or
before December 31, 1999.  AutoBond is very appreciative of Mr. Katz's
significant contributions to the company and wishes him much future success.
    AutoBond currently has 6,531,311 common shares and 1,125,000 preferred
shares outstanding.  AutoBond is a specialty consumer finance company engaged
in servicing retail installment contracts originated primarily by franchised
automobile dealers in connection with the sale of used and, to a lesser
extent, new vehicles to selected consumers with limited access to traditional
sources of credit.  AutoBond is located in Austin, Texas and is licensed to
acquire contracts nationwide from dealers in approximately 40 states.
    The above statements include information that should be considered
forward-looking within the meaning of the Private Securities Litigation Reform
Act of 1995, and in addition involve a number of risks and uncertainties.
    NOTE:  This is not an offer to buy or sell securities or assets of any
kind.