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Onyx Acceptance Files Registration Statement with SEC

13 December 1999

Onyx Acceptance Files Registration Statement With SEC for $20 Million In Subordinated Notes and Shelf Registration for Its Securitization Transactions in 2000

    FOOTHILL RANCH, Calif., Dec. 13 -- Onyx Acceptance
Corporation , Foothill Ranch, CA, today announced the filing of
a registration statement relating to a proposed underwritten public offering
of $20 million of subordinated notes.  Miller & Schroeder Financial, Inc. will
be the managing underwriter for the offering.
    In addition, Onyx also announced the filing of a shelf registration
statement relating to its proposed securitization transactions in 2000.
    Onyx Acceptance Corporation is a specialized automobile finance company
based in Foothill Ranch, California.  Onyx provides prime and near-prime
financing to franchised and select independent dealers throughout the United
States.
    Registration statements relating to these securities have been filed with
the Securities and Exchange Commission but have not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective.  This press release
shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or
jurisdiction.