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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: xray who wrote (4518)	6/4/1998 8:26:00 PM
From: Seeker	Respond to of 25711

TVSI********** MM's are trying to shake loose shares...looks like they know something we are soon going to find out......im buying more tomorrow, something is up with this one....Just around the corner.

To: xray who wrote (4518)	6/4/1998 8:27:00 PM
From: stockboy	Read Replies (2) \| Respond to of 25711

Joe, I've been lurking for over a year and signed up recently. Take a look at this company. I've owned it for years and its been a bumpy ride. This press release is of interest because of what it doesn't say. Westar Financial Says New Products Have Boosted Volumes and Credit Quality OLYMPIA, Wash., May 20 /PRNewswire/ -- Westar Financial Services Incorporated (OTC: WEST), a prime-credit auto lessor, said its lease approval volumes have soared at the same time credit quality has improved, following the introduction of numerous new products at the beginning of this year. "Since the January 1998 introduction of several new product offerings geared to the highest quality lessees, our annualized lease approval rate in April surged 468% over December's annualized approval rate. Westar now has an estimated 1.5% of the huge auto lease finance market in the Pacific Northwest," said Pete Kanatzar, Vice President - Risk Management. "At the same time, credit quality has improved. The new programs and our proprietary technology have given us the ability to manage Westar's results more effectively as we have improved credit quality even further. "We are proving that we can drive our business to achieve targeted volumes, margins and quality, which is very exciting," he noted. "Approval rates have climbed to 67% -- which means we are producing leases efficiently. Many more dealers are producing applications for us that lead to approvals and funding of leases." Westar's new products include programs such as risk-based pricing, low mileage leases, three-month extensions, special college graduate packages, an expanded list of value-added options, and automatic approvals and preferred lease rates for the very highest credit quality lessees. "The market's response to our new product offerings has been gratifying. Even as volumes increased sharply, the credit quality of leases has improved. Average FICO scores (based on the Fair, Isaac & Co. credit rating system) are exceeding 700 -- indicating our product strategy is working as planned," Kanatzar added. "We plan to introduce significant new products over the next several months." Westar Financial Services Incorporated is a fast-growing, Washington-based automobile finance company focused solely on the prime-credit segment of the $110-billion auto-lease finance market. Westar's shares are traded over-the-counter by Hoefer & Arnett, San Francisco; Hill Thompson, Jersey City; and Monroe Securities, Rochester, NY. Statement regarding "Forward Looking Statements": This announcement includes statements that include forward-looking statements which are subject to a number of risks and uncertainties. These include the ability to successfully develop and market new products, retain high quality dealers and lessors, and complete future financings, which might cause actual results to differ materially from stated expectations. I have a "Dear Shareholder " letter from R. W. Christensen, JR., Weststar President, dated May 13, 1998, that restates the info in the press release but also adds, "Westar's formal proposal in response to Costco's invitation... to partner with them... was every bit as innovative, creative ,and challenging to the status quo as were the development of LASIR and the Carlson Trust technologies. Costco has described Westar's proposal as `the finest financial services proposal we've ever received.' I hope to have further news for you on this front within the next month or so." There's more, " Westar will roll out its first prime credit auto loan program this July." This is new ground for Westar. "The number of `participating dealers' (for leases)... has quintupled since December..." I think the Costco (COST/NASD) deal, the new auto financing program, and the success of Westar's leasing program should all be sources for improved earnings and some positive press releases. I think the float is 1,114,687. L