ELA Report: New Biz Increased 4% 1^st Q 2001 to 1^st Q 2002

Performance Indicators Report Reveals Continued Growth in the Equipment Leasing and Finance Industry

New Business Volume Increased 4 Percent from First Quarter 2001 to First Quarter 2002

http://www.leasingnews.org/articles.doc/pirq1_02.htm

ARLINGTON, Va. - - The Equipment Leasing Association's (ELA) first quarter 2002 Performance Indicators Report (PIR) reveals an increase in new business volume of 4 percent since the first quarter of 2001. This is in comparison to the first quarter economic growth rate of 5.6 percent reported by the Department of Commerce. The total net portfolio for the key equipment lessors increased nearly 5 percent compared to the first quarter 2001. In contrast, the Commerce Department reported that business spending on the purchase of new industrial equipment dropped 8.2 percent in the first quarter of 2002.

"Growth in new business volume indicates strong demand for the lease product across many end-user sectors," noted Ralph Petta, ELA's vice president of industry services.

ELA's quarterly PIR tracks the performance of prominent leasing organizations in six key areas: total net portfolio, total new business volume, average losses, credit approval ratio, total number of employees and delinquencies. ELA surveys approximately 20 major leasing companies on a quarterly basis, affording trend analysis across all the  performance areas.

First quarter PIR highlights include:

* Total number of employees decreased almost 4 percent from first quarter 2001

* Credit approval ratios have increased 4 percent since first quarter 2001

* Average losses have decreased 30 percent since fourth quarter 2001

* Delinquencies remain stable with a slight decline in current receivables since first quarter 2001

The PIR study is conducted quarterly by ELA, which provides a variety of data, including customized market analyses, to ELA members and organizations.

http://www.leasingnews.org/articles.doc/pirq1_02.htm

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Organized in 1961, the Equipment Leasing Association (ELA) is a non-profit association representing companies involved in

the dynamic equipment leasing and finance industry. ELA's mission is to promote the leasing industry as a major source of funds for capital investment in the United States and abroad. ELA maintains an informational portal for financial decision-makers at www.leaseassistant.org. Headquartered in Arlington, Va., ELA has more than 850 member companies and a staff of 27 professionals. Equipment leasing is estimated to be a $244 billion industry in 2002. Visit ELA online at http://www.elaonline.com.

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First Quarter 2002 Performance Indicator Report Participants

ADP Credit Corporation

Amsouth Leasing Corporation

Caterpillar Financial Services Corporation

Computer Sales International, Inc.

Dana Credit Corporation

De Lage Landen Financial Services

Farm Credit Leasing Services Corporation

Fleet Capital Leasing

GreatAmerica Leasing Corporation

John Deere Credit Corporation

Hitachi Credit America Corporation

Key Equipment Finance

LaSalle National Leasing Corporation

U.S. Bancorp Leasing & Financial

Verizon Credit, Inc.

Wells Fargo Equipment Finance