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Royal Acceptance Announces Increased Earnings for Third Quarter

3 February 2000

Royal Acceptance Corp. Announces Increased Earnings for Third Quarter and Intention to Become a Fully Reporting Company

    NEW YORK, Feb. 2 -- Royal Acceptance Corporation
(OTC Bulletin Board: RYFC) reported earnings of $.047 per share for the
nine months ended September 30, 1999 (unaudited) on total leases of
$26,070,536 up from $.011 on total leases of $10,734,336 for the nine months
ended September 30, 1998.
    Richard Toporek, President of Royal stated: "This has beer a very exciting
year for the Company.  The Company was able to implement its strategic
business plan, which has resulted in the increased sales and earnings.  Based
upon the robust economy, we expect to continue to grow our business in fiscal
2000."
    Mr. Toporek also stated that Royal intends to file a Form 10-SB with the
Securities and Exchange Commission and to become a fully reporting company.
Mr. Toporek said that, "becoming a fully reporting company is only part of our
goal.  As we achieve our business objectives, we anticipate meeting the
listing requirements of more prestigious exchanges within the financial
marketplace.  It is our intention to become fully reporting within the time
frame provided by the NASD to enable us to maintain our listing on the
OTC Bulletin Board.
    Royal, though its wholly owned subsidiary RIT Auto Leasing Group, Inc., is
in the business of leasing now and pre-owned automobiles with terms generally
ranging from 12 to 60 months.  The Company also leases and finances commercial
and industrial equipment such as computers, airplanes, boats and construction
equipment.  The Company, including its subsidiary RIT, enjoys strong
relationships with such financing institutions as European American Bank,
Bombardier Capital, First Source Bank, and Ford Motor Credit.  Its customer
base is derived from the general public and corporations.

    This news release contains forward-looking statements which are based
largely on the Company's expectations and are subject to a number of risks and
uncertainties, certain of which are beyond the Company's control.
Forward-looking statements in this release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based on current management expectations that
involve risks and uncertainties that may result in such expectations not being
realized.