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Microcap & Penny Stocks : ASK: "THE LAST DON" OF MOMENTUM TRADES -- Ignore unavailable to you. Want to Upgrade?

To: LeeR who wrote (1775)	12/30/1998 11:02:00 PM
From: MoneyMade	Read Replies (1) \| Respond to of 15987

PAMM in sympathy with FP's news it would appear. If this sector turns PAMM,IMCC,FP will run! FIRSTPLUS Announces Major Loan Sale DALLAS--(BUSINESS WIRE)--Dec. 30, 1998--FIRSTPLUS Financial Group Inc. (NYSE:FP - news) today announced that it has sold approximately $900 million of high loan-to-value mortgage loans to a large U.S. national bank at various prices above par. Contemporaneous with the transaction, a servicing agreement names FIRSTPLUS as servicer of the loans for an interim period. Cash proceeds from the sale primarily repaid warehouse-lending facilities, which financed the origination of the mortgage loans. ''This transaction demonstrates an interest in high loan-to-value mortgages in a secondary market other than the securitization market,'' said Daniel T. Phillips, CEO of FIRSTPLUS. FIRSTPLUS Financial Group, Inc. is a diversified consumer finance company that originates and sells consumer finance receivables. FIRSTPLUS is headquartered in Dallas, Texas. The above statements contained in this press release that are not historical facts, including, but not limited to, statements that can be identified by the use of forward-looking terminology such as ''may,'' ''will,'' ''expect,'' ''anticipate,'' ''estimate'' or ''continue'' or the negative thereof or other variations thereon or comparable terminology, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements in this press release could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: the ultimate outcome of any negotiations, short-term interest rate fluctuations, level of defaults and prepayments, general economic conditions, competition, government regulation and possible future litigation, as well as the risks and uncertainties discussed in the Company's Current Report on Form 8-K, dated December 19, 1996, including without limitation, the uncertainties set forth from time to time in the Company's other public reports and filings and public statements. -------------------------------------------------------------------------------- Contact: