AUTO - good valued co.in recession free industry Message Board

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Microcap & Penny Stocks : AUTO - good valued co.in recession free industry

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To: Eric Q. Kang who wrote ()	12/12/1996 7:23:00 PM
From: Michael Carey	of 205

AUTO is transitioning nicely into the non-prime auto loan business. Recent price runup from 2 1/4 to 3 3/8 and this press release shows that AUTO's banker sees good risk in this company. Mike PS, the old thread was started while AUTO was in the auto parts market which was reccesion free. This new business can not be considered reccesion-proof. AutoInfo Enters into New $100 Million Revolving Credit Facility FAIR LAWN, N.J. (Dec. 12) BUSINESS WIRE -December 12, 1996--AutoInfo, Inc. (NASDAQ: AUTO) announced today that it has entered into a $100 Million Revolving Credit Facility. The new facility has a three year term and provides for an improved advance rate and cost of funds over the Company's current facility. The proceeds of the facility will be used to repay the outstanding balance of approximately $15,000,000 under the Company's current credit facility and to facilitate the expansion of the Company's portfolio of non-prime automobile loans. "Our new credit facility is another major building block in AutoInfo's strategy of becoming a significant player in the non- prime automobile market", stated Scott Zecher, AutoInfo's President and Chief Executive Officer. "The addition of this $100 million facility and the reduced cost of funds from our prior facility will contribute significantly to the achievement of our strategic growth plan," added Zecher. "We are extremely pleased to align with our new investment bankers, given their recognized leadership position in both the financing and securitization of automobile loan portfolios." AutoInfo, Inc. is a specialized consumer finance company that acquires and services retail installment contracts from automobile dealers selling new and used vehicles to non-prime customers. --30--cf/ny* CONTACT: AutoInfo Inc. Scott Zecher (201) 703-0500

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