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Westar Financial Reports Second Quarter Lease Volumes Grew 120%

7 October 1999

Westar Financial Reports Second Quarter Lease Volumes Grew 120%; 7th Consecutive Record Quarter for Originations

    OLYMPIA, Wash., Oct. 6 -- Westar Financial Services
Incorporated (OTC Bulletin Board: WEST), a prime-credit auto lessor, announced
it originated new leases totaling $24.8 million during its second fiscal
quarter ended September 30, 1999, a 120% increase over the $11.2 million in
the like quarter a year ago. The quarter marks the company's seventh
consecutve quarterly increase of lease originations. In the first half of
fiscal year 2000, new lease originations totaled approximately $50 million,
nearly equal to the $55 million in leases originated during all of fiscal
1999.
    "Our lease originations remained strong in our Northwestern Region through
the summer, more than offsetting the expected seasonal decline in the
Southwest," said R. W. Christensen, Jr., Westar's President and CEO. "Our two
newest regions, Northcentral and California, were too new to add volumes to
second quarter results, but should help us set origination records for the
third quarter. Additionally, we expect that the moderating temperatures in the
Southwest will lead to increased consumer traffic to dealers in the third
quarter, also increasing our volumes.
    "Our entry into e-finance through the launch of DriveOff.com on
September 28th was still too new for significant tangible results in the
second quarter," Christensen continued. "Based on early results, though, we
expect volumes through DriveOff.com will be both substantial and material in
the second half of fiscal 2000." Westar is the exclusive financing
administrator for DriveOff.com, a 3rd generation e-commerce business model
allowing consumers to buy and finance new automobiles in a single electronic
transaction. Westar is supporting the venture through a $1 billion funding
commitment.
    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 $112 billion auto-lease finance market. Westar, which recently
launched operations in California, also operates in the Pacific Northwest, the
Southwest, and Northcentral US.
    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, achieve success
in the e-commerce business model 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 results to differ from stated
expectations.