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Autoeloan.com, Inc. Closes First Round Funding

18 April 2000

Autoeloan.com, Inc. Closes First Round Funding

    IRVING, Texas--April 18, 2000--Autoeloan.com, Inc., an Internet-based automobile finance company, raised $1.5 million from private investors to close out its first round of financing.
    The funding is being used for staffing and for systems infrastructure used in managing the company's automobile loans. Autoeloan.com, Inc. was founded by James W. Bass and Robert W. Hinds during the summer of 1999. Their commitment is to offer automobile loans through automobile dealerships and a secure Web page to the public.
    Mr. Bass was the President and Chief Operating Officer of Auto One Acceptance Corporation, from its inception in November, 1988 through August, 1999. Auto One was purchased by California Federal Bank, F.S.B. in September, 1997. Auto One was the first non-prime auto finance company to securitize its loans with an S&P rating (1991) and originated over $1 billion in automobile loans during Mr. Bass's tenure.
    Mr. Hinds has been an investment banker since 1986, handling equity and debt placements for private and public companies.
    The company will begin loan originations with a select group of automobile dealers in late spring 2000. More information about the company can be viewed at www.autoeloan.com or by calling 512/236-6602.
    Autoeloan's Corporate Office is in Irving, Texas and its Technology Center is in Austin, Texas.