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To: Coral4pH_dot_com who wrote (12631)10/27/1999 12:23:00 PM
From: paper man  Read Replies (2) | Respond to of 150070
 
Copper Master. greetings to the thread. Are you still sitting on your lot?:

Message 11534740

Sonoma Financial Corporation Signs Letter of Intent To Merge With Easy Money Group


CHICAGO--(BUSINESS WIRE)--Oct. 27, 1999--

Combined Operations To Exceed 150 "Payday Loan" Stores in 18 States

Sonoma Financial Corporation/VictorMaxx Technologies, Inc. (OTCBB: VMAX) the largest payday advance operator in the greater Chicago area, announced today that it has signed a non-binding letter of intent to merge with EASY MONEY GROUP, of Virginia Beach, Virginia.

The terms of the Letter of Intent were not disclosed. The proposed merger is subject to a number of substantial conditions, including each party's satisfactory completion of its due diligence review; the negotiation and execution of a definitive merger agreement; approval of the transaction and definitive agreement by the respective boards of directors and stockholders of VMAX; and other conditions. No assurances can be given that any or all of these conditions will be satisfied or that the merger will be completed.

Located in Virginia Beach, Virginia, Easy Money Group is one of the nations largest privately owned payday advance chains. Management is lead by company founder Jerry Greenberg, a successful business entrepreneur and pioneer of the "payday" industry; opening his first store in April 1994. The Easy Money Group employs 415 people in 16 states and loaned $93.8 million in 1998.

Commenting on the acquisition, Easy Money Group Director, Jerry Greenberg stated, "We are excited to be joining forces with the professionals at Sonoma Financial Corp. Easy Money's profitable operations and market presence, in tandem with Sonoma's business model and public status, should provide the combined companies with the ability to grow at a remarkable rate." Sonoma Financial CEO Frank Anthony Contaldo added, "We are pleased to welcome Easy Money to the Sonoma family. The combined company will have the infrastructure and financial ability to achieve the goals of becoming a nationwide chain with hundreds of locations and a renewed focus toward customer service."

Sonoma Financial Corporation is a financial services company that owns and operates a chain of stores devoted to providing low documentation, short-term consumer loans. The company intends to become the national leader in the "Payday Loan" market by strategically opening new stores, penetrating new markets and by chain acquisition. Sonoma Financial is currently the only publicly traded company with a sole focus on 'payday advances'. Ace (NASDAQ:AACE), First Cash Financial Services (NASDAQ:FCFS) and Pinnacle Business Management (OTCBB:PCBM), have proven the viability of the concept in other markets, but are not specifically focused in this area. A complete investor package is available at e-relations.com.

Safe Harbor Disclaimer:

This release may contain certain forward-looking statements regarding the Company's expected performance for future periods, and actual results for such periods may materially differ. Such forward-looking statements involve certain risks and uncertainties, including but not limited to risks of changing market conditions in the overall economy and the industry, consumer demand, additional financing requirements, the opening of new stores, the success of the Company's acquisition strategy and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.

CONTACT:

Sonoma Financial Corporation/

VictorMaxx Technologies, Inc.

Company Contact:

Frank Anthony Contaldo, 847/884-7795

or

Investor Relations Contact:

Wayne Schumacher, 773/227-3910

or

Easy Money Group

David Kilby, 757/499-1126

KEYWORD: ILLINOIS VIRGINIA

BW1171 OCT 27,1999 5:29 PACIFIC

8:29 EASTERN