http://two

Little did we know the selected theme, 'A view of the past, A vision of the future' would be prophetic. There were so many technology decisions to be made at the time that it was difficult to see where many would lead.

"We've all found now that there was magic in our FedEx and Fax relationships

with our customers, we've just changed the delivery systems to e-mail and

PDF.

The basic method of delivering our product has changed, but the changes

we were making never included a clear vision that the same technology would

enable a small company adopt the advantages of the large and the large

companies to adopt the advantages of the small. While uncertainty surrounded

the direction technology would take us, the result has been that our

industry is better able to deal with the customer the way they want to be

treated. We're more responsive, and as a result more competitive.

"The Spring association conferences are a gathering of the survivors of this

transition.

The next national meeting is next week (UAEL, Spring Educational Conference in Rancho Mirage, California May 1-4, 2003). Airfares to Palm Springs are cheap now and I would encourage everyone who has an interest in how the survivors view the future to attend.

There has been a great attempt made in the last few months to differentiate industry associations, an argument that goes nowhere, and frankly has very little to

do with survival.

We need to associate with those in whom we have the most

common interest and confidence.

Criticize if you have the time, but go to a conference! Rancho Mirage is as good as any. The next great challenges are probably going to be regulatory rather than technological. We all need to be involved."

Jim McCommon CLP

jim@2lease.com

425 827-7345

425 827-6386 (F)

(Mark McQuitty, Preferred Lease/CapitalWerks, will be covering the event for

Leasing News. )

[Headlines]

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Classified Ads--Jobs Wanted---65 total

Asset Management: Chicago, IL. MBA, 15+ years exp. Long history of success in maximizing residual position through outstanding negotiation skills & lease contract management. Third party remarketing, forecasting etc... email:jgambla@aol.com

Asset Management: Houston, TX. 10+ yrs. Dealer F&I exp., 20+ yrs. exp. Dealer level selling, managing, reporting, appraising, specifications writing, Light,Med.,Hvy Trucks/ Trailers, Const.,Oilfield, Specialized Equip.. Strong exp. Recon., salvage & Logistics. email: edloredo@hotmail.com

Asset Management: Jacksonville, FL. 15+ yrs of diversified exp.in Comm.Equip.Fin. Equip Generalist, ASA "Cradle-to-Grave," Sr. Management, creative negotiating, presentation and analytical skills. Open to domestic/global travel/relocation. email:AssetMgrASA@aol.com

Asset Management: Redmond, WA 10+ years experience with Small/Middle Market portfolio's. Managed all aspects of Asset Management including residual setting, inspections, repossessions, remarketing& eol negotiations. email:challenger.rt@verizon.net

Collector: Lakeland, Fl. 12 yrs. experience, including repossessions, skip-tracing, charge- offs, excellent computer and customer service skills. Looking for a growing company in central Fl. email:pendilton70@hotmail.com

65 Job Wanted Ads: http://65.209.205.32/LeasingNews/JobPostings.htm

(These ads are free to those looking for employment:

http://65.209.205.32/LeasingNews/PostingForm.asp )

[Headlines]

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Economic Events This Week

April 28

MONDAY

Personal Income: March

ELA Large Ticket Conference

Four Seasons Resort & Club, Irving (Dallas), TX.

April 29

TUESDAY

Consumer Confidence: April

-- Labor Department reports on employment cost index, first quarter.

ELA Large Ticket Conference

Four Seasons Resort & Club, Irving (Dallas), TX.

April 30

WEDNESDAY

-- Federal Reserve Chairman Alan Greenspan testifies before the House Financial Services Committee on monetary policy.

May 1

THURSDAY

U.S. Productivity: 1st Quarter

Construction Spending: March

Weekly Jobless Claims

ACC Free Leasing Conference

Rancho Las Palmas Marriott, Rancho Mirage, CA

UAEL Spring Education Conference

Marriott's Rancho Las Palmas Resort and Spa

Rancho Mirage, CA

May 2

FRIDAY

Unemployment April

Factory Orders: March

U.S. Productivity:1st Quarter

Construction Spending: March

Weekly Jobless Claims

UAEL Spring Education Conference

Marriott's Rancho Las Palmas Resort and Spa

Rancho Mirage, CA

[Headlines]

_________________________________________________________________

Taylor Imbedded "Stayin' Alive Through '05!"

Equipment Leasing Association Large Ticket Conference

April 27-29, 2003

Las Colinas Four Seasons Resort & Club

Irving (Dallas), Texas

"The ELA Large Ticket Conference has become the premier event for large ticket equipment lessors. Through the high quality sessions and the extensive networking opportunities, attendees will be better positioned for "Stayin' Alive Through '05"...and beyond!

"Who Should Attend

Transaction-oriented people: lessors who provide financing to large, capital-intensive users of equipment; debt and equity sources; advisors; project finance specialists; attorneys and accountants specializing in large ticket transactions."

http://www.elaonline.com/events/2003/largeticket/

Covering the conference for Leasing News---Jeff Taylor, best known as the author of the hit: "Leasing in a Tough Economy"

Irving, Texas:

It is now Sunday afternoon 3:00 P.M. Dallas Time. Took me 3 hours to fly from Salt Lake City to Dallas. Took me ½ hour to get my bags, pick-up my rental car (tried Thrifty this time) and find the hotel. Could not afford to stay at the Conference Hotel, Four Seasons. They quoted me a discount rate of $270 plus tax per night. Leasing News put me on a budget, including Denny’s for breakfast.

Found a nice new hotel near the airport, called Amerisuites. Large bedroom, refrigerator, free breakfast, free phone service for $45/night. Feels great. Wanted to use the treadmill at the small workout room but decided to write this article instead. I'll just workout later or tomorrow. Okay, Chief?

It is now 4:00 P.M. and the opening reception is 2 hours from now. More than 300 people have registered, including Presidents of Leasing Companies, Investment Bankers, Pricing Experts, Legal Experts, and Insurance Experts.

As I mentioned in my last article (ELA Captive Conference), ELA has moved towards a new conference format - education in the morning, Golf in the afternoon and Food/wine in the evening. This time they have also added "After Hours Cigars and Cordials".

Considering that I am trying to cut down my intake of alcohol, it will be real interesting to see how I handle cigars without the masking effect of alcohol. Will I cough? Get sick? Turn mauve? Maybe my report to Leasing News readers will

be better than before. You’ll find out tomorrow, Chief.

This conference promises to be a show stopper. On tap is Robert Crandall, former CEO and Chairman of American Airlines. Given the recent toppling of their current CEO, Carty, due to his hiding Deferred Executive Compensation through a guaranteed trust while demanding wage concessions from the Unions, it will be interesting to see the types of questions he will be asked.

Stay tuned.

Jeffrey Taylor is the best selling author of “Leasing in a Tough Economy”

and well-known lease accountant, educator, “trainer” and writer.

http://two.leasingnews.org/Books_Direct.htm#selling

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### Press Release #########################################

CIT Small Business Lending Announces National Relationship With the Business
Resource Store

LIVINGSTON, N.J., -- CIT Small Business

Lending Corporation, the nation's #1 SBA lender for the past three years and a

subsidiary of CIT Group Inc. (NYSE: CIT) today announced a national

relationship with The Business Resource Store. CIT will provide The Business

Resource Store with access to nationwide financing for their clients, along

with marketing support to reach new clients and monthly reporting services to

track the success of the relationship. The alliance will result in the

creation and expansion of small businesses across the U.S. and reflects CIT's

ongoing commitment to job development, growth and economic stability in the

small business community.

"The Business Resource Store provides an invaluable service for

individuals looking for financing to start their own franchise business,"

commented David Bell, national account manager for CIT Small Business Lending.

"Their experience and knowledge of the franchising industry and their ability

to identify borrowers that fit both SBA and CIT guidelines puts them among the

best in the industry."

"Our focus on franchises is a direct result of the continued high success

rate of businesses in that arena," said Don Steele, president and CEO, The

Business Resource Store. "Partnering with the leading SBA lender and the best

franchise lender in the nation is a great opportunity for us to expand our

services and continue to grow our business."

About The Business Resource Store

The Business Resource Store is a provider of specialized financing

solutions to small to mid-sized companies in the U.S. Services include loans,

revolving lines, equipment leases, receivable, inventory, and purchase order

financing, SBA loans, letters of credit, business credit cards and mortgage

loans. The company's website is http://www.businessresourcestore.com.

About CIT Small Business Lending Corporation

CIT Small Business Lending Corporation offers Small Business

Administration (SBA) loans to finance business acquisitions, owner-occupied

real estate purchases and franchise start-ups through a network of field

representatives. The nation's #1 SBA lender, CIT Small Business Lending has

been designated a "Preferred Lender" by the SBA and can provide quick credit

decisions and loan closings. The company's website and online SBA loan

application are located at http://www.smallbizlending.com.

About CIT

CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance

company, provides clients with financing and leasing products and advisory

services. Founded in 1908, CIT has nearly $50 billion in assets under

management and possesses the financial resources, industry expertise and

product knowledge to serve the needs of clients across approximately 30

industries. CIT, a Fortune 500 company, holds leading positions in vendor

financing, U.S. factoring, equipment and transportation financing, Small

Business Administration loans, and asset-based and credit-secured lending.

CIT, with its principal offices in New York City and Livingston, New Jersey

has approximately 6,000 employees in locations throughout North America,

Europe, Latin and South America, and the Pacific Rim. For more information,

visit http://www.cit.com.

[Headlines]

#### Press Release ###########################################

GATX Corporation (ticker: GMT, exchange: New York Stock Exchange) News Release

--------------------------------------------------------------------------------

GATX Announces Quarterly Dividend

CHICAGO, / -- The board of directors of GATX Corporation (NYSE: GMT) today declared a quarterly dividend of $0.32 per common share, payable June 30, 2003, to shareholders of record on June 13, 2003.

The board also declared a quarterly dividend of $0.625 per share on the $2.50 preferred stock, payable June 1, 2003, to shareholders of record on May 15, 2003.

The common and preferred dividends declared today are unchanged from the previous quarter.

GATX Corporation Reports First Quarter Results

For the 2003 first quarter, GATX reported net income of $1.8 million or $.04 per diluted share. The 2003 first quarter results include an $11 million after-tax, or $.22 per diluted share, loss provision related to the company's air portfolio. In the 2002 first quarter, GATX reported a net loss of $9.8 million or $.20 per diluted share. The 2002 first quarter results included a $34.9 million, or $.72 per diluted share, goodwill impairment charge related to the adoption of SFAS 142.

Ronald H. Zech, chairman and president of GATX, stated, "Results in the 2003 first quarter reflect continued uncertainty and softness in our core markets. In Rail, however, we experienced increased fleet utilization and customer order activity. While this is a positive development, the competitive pressure on lease rates continues.

"The air industry experienced another difficult quarter, with the effects of the Iraq war and SARS outbreak combining to present carriers with significant additional operating challenges. During the quarter we recorded an $11 million after-tax loss provision related to a carrier bankruptcy filing. While pressure in our air business continues, we have made progress on several fronts: we have now placed all six of our scheduled 2003 new aircraft deliveries; our owned fleet is 99% utilized; and our 2003 aircraft renewals are nearly complete.

"At the beginning of the year we indicated that we expected 2003 earnings to be in the range of $1.30 per diluted share absent a material change in operating conditions or air-related charges. Based on these assumptions, and excluding the 2003 first quarter air-related loss provision, our expectations are unchanged."

GATX RAIL

GATX Rail reported 2003 first quarter income of $9.6 million compared to a $16.9 million loss in the prior year period and income of $6.3 million in the 2002 fourth quarter. The 2002 first quarter results included the aforementioned goodwill impairment charge. GATX Rail's utilization, lease renewal and assignment activity, and new car placements all were above expectations during the first quarter. Lease rate pricing, however, remains weak in this market.

GATX Rail's North American fleet totals 106,000 cars, and utilization of this fleet was 92% at the end of the first quarter, up from 90% at the end of first quarter 2002 and 91% at the end of 2002. The increase in utilization reflects positive activity among GATX Rail's customer base, an increase in the active car count, and a continuation of planned car scrapping.

North American manufacturing capacity utilization, as reported by the Federal Reserve, was 75%, flat with the prior quarter and prior year period. Industry-wide chemical shipments were up 4% in the quarter compared to the prior year period, although the growth in comparable shipments slowed in March.

FINANCIAL SERVICES

Financial Services reported a 2003 first quarter loss of $1.2 million compared to income of $7.0 million in the prior year period and a loss of $31.1 million in the 2002 fourth quarter. The 2003 first quarter results reflect continued weakness in Financial Services' core air and technology markets, and an $11 million after-tax loss provision related to one air carrier. The loss provision fully covers a note receivable from Air Canada, which recently filed for bankruptcy. The note is related to a previously restructured lease.

GATX has made available an updated version of its air presentation at www.gatx.com . Key points in the presentation include fleet utilization of 99%, placement or letters of intent on all six 2003 scheduled new aircraft deliveries, and placement or letters of intent on five of the eight 2003 scheduled existing lease renewals.

Investment volume for the first quarter totaled $201 million compared to $308 million in the prior year period. The reduction in 2003 volume is primarily a result of fewer new aircraft deliveries and lower progress payments compared to 2002.

Remarketing income, comprised of both gains on asset sales and residual sharing fees, was $10.2 million in the first quarter compared to $7.6 million in the prior year period. Gains were primarily concentrated in GATX's specialty portfolio.

CREDIT STATISTICS

At the end of the 2003 first quarter, the allowance for losses was 8.4% of reservable assets compared to 6.4% in the prior year period and 6.6% at the end of 2002. The increase in the loss provision is primarily related to the air-related provision taken in the 2003 first quarter.

Net charge-offs and impairments totaled $7.9 million during the 2003 first quarter, or 0.4% of average total assets on an annualized basis. In the prior year period, net charge-offs and impairments totaled $22.1 million (1.2%).

Non-performing leases and loans at the end of the 2003 first quarter totaled $163.5 million, or 5.7% of Financial Services' investments, compared to $101.7 million (3.5%) at the end of the prior year period and $94.9 million (3.3%) at the end of 2002. The increase in non-performing leases and loans is primarily related to placing the Air Canada note and one A320 aircraft on non- performing status during renegotiation.

COMPANY DESCRIPTION

GATX Corporation (NYSE: GMT) is a specialized finance and leasing company combining asset knowledge and services, structuring expertise, partnering and risk capital to provide business solutions to customers and partners worldwide. GATX specializes in railcar and locomotive leasing, aircraft operating leasing, and information technology leasing.

[Headlines]

#### Press Release ###########################################

ORIX's Earnings Fall 25% in the Year Ended March 31, 2003

TOKYO--ORIX Corporation (TSE: 8591; NYSE: IX), a leading integrated financial services provider, today announced that it had incurred a loss in the fourth quarter (January 1 to March 31, 2003) of the fiscal year ended March 31, 2003 of 4,969 million yen (US$41 million(a)), compared with a profit of 10,971 million yen in the same period of the previous fiscal year, while net income for the fiscal year was 30,243 million yen (US$252 million(a)), a drop of 25 percent compared with the previous fiscal year.

Operations overall continued to perform well in Japan, with strong growth in the real estate-related finance segment and consumer card loan operations, while earnings from operations in Asia and Oceania also increased. However, the write-downs of long-lived assets that included a golf course in the second quarter and office buildings, hotels, golf courses and other real estate assets in the fourth quarter totaling 50,682 million yen (US$422 million(a)) held down earnings for the year.

CONTACT:

ORIX Corporation

Corporate Communications, +81-3-5419-5102

Fax: +81-3-5419-5901

orixir@orix.co.jp

www.orix.co.jp

[Headlines]

### Press Release ######################################

Negative Outlook for U.S. Consumer Finance Companies; Fitch

NEW YORK--Fitch Ratings is maintaining its negative rating outlook on U.S. consumer finance companies in 2003, although the pace of negative rating actions is expected to slow, as rating outlooks are becoming more stable, according to a new report published this week by the rating agency titled 'U.S. Consumer Finance: A Light at the End of the Rating Tunnel in 2003'. Consumer lenders have adapted to the weaker economy in a number of ways, but, even with these added measures, Fitch expects consumer lenders to remain challenged in 2003.

Fitch's rating outlook for the consumer finance sector remains negative, reflecting economic uncertainties and challenging capital markets,' said Christopher Wolfe, director, Fitch Ratings. 'During 2003, Fitch will continue to focus on a lenders' abilities to adapt to changing economic and funding environments, with a focus on managing liquidity, credit quality and capital.'

An important issue confronting consumer lenders is striking an appropriate balance in the capital structure between unsecured debt and debt secured through asset-backed securitizations (ABS). In Fitch's view, some companies have become too reliant on securitization, while others have yet to access the market. The new report examines alternative financial management options, including whole loans and retail note programs.

In addition to an examination of consumer macroeconomic trends and a detail of key credit rating issues for consumer lenders, the new report offers analysis on the separate sectors that these companies represent, including residential mortgage, auto finance and leasing and credit cards.

The consumer finance universe includes a diverse set of companies, and individual company outlooks should be predictive of future rating actions,' said Wolfe. 'Consumer lenders with strong balance sheets and solid sources of liquidity are well-positioned to maintain current ratings, while thinly capitalized companies with modest access to liquidity will struggle during 2003.'

[Headlines]

#### Press Release ############################################

"It's Jobs" Economist tells business writers

Meeting in Cambridge, Massachusetts Sunday, Economic Policy Institute President Lawrence Mishel told the Society of American Business Editors and Writers annual conference the economy suffers from "too few jobs;" business writers are focusing too much on gross domestic product...and even if it grows 2.4 percent this year, it is not enough.

Depending on the part of the country, where unemployment is anywhere from 5 to 8 percent, household income has been dropping for four consecutive quarters.

''Unless employment starts growing, President Bush will be the first president since Hoover to preside over an actual decline in employment,'' Mishel said in a speech that also criticized the president's economic policy for doing to little to help the economy this year.

Unemployment numbers are modest because some people stop searching for jobs or accept ''underemployment'' to earn a paycheck, he said.

The U.S. economy would have to create 140,000 jobs per month between now and the 2004 election to return to the employment levels of 2000. But even that would simply absorb workers entering the labor force; to move the unemployment figure below 5 percent would require 210,000 new jobs per month. (New York alone lost 300,000 jobs since September 11)

''(That) seems especially unlikely given the preference of this administration for back- loaded tax cuts,'' Mishel said.

Current estimates put GDP growth at 2.4 percent this year. Fishel that simply isn't enough growth to reduce unemployment and reverse the decline in household income.

That, he said, would require a short-term stimulus package. He said the administration's proposal to cut the dividend tax would do little to spur jobs in the short run.

''They care about long-term growth, not short-term growth,'' he said.

Instead, he suggested spending $175 billion or more to return money to lower- income taxpayers, provide fiscal relief to states or build and renovate schools which he suggested could create 1.5 million new jobs.

The $79 billion bill to fund the reconstruction of Iraq should provide some bonus, he said, adding perhaps 0.4 percent to GDP this year and accounting for 15 percent of its growth.

Despite the swift end to the war in Iraq, Fishel said, it did little to solve underlying economic problems related to the wage and labor issues that most families care about.

''Those who are trying to tell us that the problem with the economy is war are distracting us from the more fundamental problems that need to be addressed here,'' Mishel said.

[Headlines]

Cartoon----Wonder

http://two.leasingnews.org/cartoons/WONDER.gif

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[Headlines]

### Press Release ##############################################

KEY EQUIPMENT FINANCE

NAMES CHARLES D. LEE

VICE PRESIDENT, GLOBAL BUSINESS DEVELOPMENT

SUPERIOR, CO, Key Equipment Finance, one of the nation's

largest bank-affiliated equipment financing companies, announced that

Charles D. Lee has been named vice president, global business development.

In this role, Lee is responsible for identifying new vendor clients and

developing vendor programs for Key Equipment Finance and its domestic and

international operations. His office is located at Key Equipment Finance's

world headquarters just outside Boulder, Colorado.

"Charles has been an executive in the vendor leasing business for nearly 20

years," said Paul A. Larkins, president and chief executive officer, Key

Equipment Finance. "His depth of industry knowledge and experience will

propel Key to the next level of success."

Prior to joining Key, Lee served as senior vice president, director of

sales and marketing, for Fleet Capital Leasing, Global Vendor Finance, in

Troy, Michigan. He has also held senior positions at Heller Financial

Leasing Inc. and Dana Commercial Credit. In addition, Lee served as past

chairman of the Equipment Leasing Association (ELA) Vendor Program Business

Council Steering Committee.

Charles Lee earned his bachelor of arts degree from the University of

Minnesota (Minneapolis) and his master of business administration in

finance and marketing from the University of St. Thomas in St. Paul,

Minnesota.

Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides

business-to-business equipment financing solutions to businesses of many

types and sizes. They focus on four distinct markets:

· businesses of all sizes in the U.S. and Canada (from small business

to large corporate);

· equipment manufacturers, distributors and value-added resellers

worldwide;

· federal, provincial, state and local governments as well as other

public sector organizations; and

· lease advisory services for manufacturers' captive leasing and

finance companies.

Headquartered outside Boulder, Colorado, Key Equipment Finance oversees an

$8 billion equipment portfolio with annual originations of approximately $3

billion. The company has major management and operations bases in Toronto,

Ontario; Albany, New York; London, England; and Sydney, Australia. The

company, which operates in 25 countries and employs more than 600 people

worldwide, has been in the equipment financing business for nearly 30

years. Additional information regarding Key Equipment Finance, its products

and services can be obtained online at KEFonline.com.

Cleveland-based KeyCorp is one of the nation's largest bank-based financial

services companies, with assets of approximately $85 billion. Key companies

provide investment management, retail and commercial banking, retirement,

consumer finance, and investment banking products and services to

individuals and companies throughout the United States and, for certain

businesses, internationally. The company's businesses deliver their

products and services through KeyCenters and offices; a network of

approximately 2,400 ATMs; telephone banking centers (1.800.KEY2YOU); and a

Web site, Key.com, that provides account access and financial products 24

hours a day.

# # #

_________________________________

Lisa A. Miller, Corporate Development

Key Equipment Finance

NY-31-66-0900

P.O. Box 1865

Albany NY 12201-1865

Phone: (518) 257-8235

Fax: (518) 257-8821

[Headlines]

##### Press Release ###########################################

Leasing Partners Names Sales Crew

Leasing Partners Capital, Inc. (LPC) of Wayne, New Jersey would like to announce the addition of several new members to its team.

Laurie Folkes has joined the team as a Territory Manager. In addition to holding management positions at Eastman Kodak, Digital Equipment and Sun Microsystems, Laurie was most recently the principal of LJE Capital Funding, LLC. He has a BS degree in Biochemistry from the University of New Hampshire and an MBA in Finance and Marketing from The University of Southern New Hampshire. Laurie resides in South Orange, NJ.

Roger Medvin has joined the team as a Territory Manager. For the last five years, Roger has been in the equipment leasing business with American Express Business Finance and LINC Monex Leasing out of Houston, TX. Previously, Roger held sales and advertising positions with numerous radio and TV stations. Roger holds a BA degree in Communications from Northeastern University in Boston, MA, and resides in Houston, TX.

Randi Hochstadter has joined the team as a Lease Administrator. Randi had been with our sister company, Resource Communications, Inc. (RCI) upon graduating from high school and was given an opportunity to learn new things with LPC. Randi resides in New Jersey.

Peter Pellack has joined the team as Vendor Manager. Peter attended William Paterson College in Wayne, NJ and was previously with American Express Small Business Service for a couple of years after being in the automobile industry for 12 years. Peter resides with his wife and daughter in New Jersey.

Beverly Del Mastro has joined the team as a Territory Manager, specializing in Home Health Care and DME. Previously, Beverly was with International Harvestor Credit Corp., Avco Financial, Delta Leasing and Middle States Capital Corp. She brings 29 years of experience with her. Beverly resides in Naples, FL.

Debbie Brannen has joined the team as a Territory Manager and Special Programs Manager for the home health care business and the Xerox Vendor program. Debbie was with Prudential Financial in their IT dept. for 22 years before entering the leasing business with Middle states Capital Corp. in 1999. Debbie resides in New Jersey.

Kirsten Brannen has joined the team as a Territory Manager, specializing in photographic and graphic arts equipment. Kirsten is a recent graduate of the School of Visual Arts in New York City. Kirsten resides in New Jersey.

Leasing Partners Capital is a lessor in the small-to-lower-middle market equipment leasing industry. LPC is growing quickly and is still looking to add another 15-20 Territory Managers nationwide by the end of 2003.

Bruce Larsen

National Sales Manager

Leasing Partners Capital, Inc.

Phone: 877-333-5864

E-mail: blarsen@leasingpartnerscapital.com

Leasing Partners Capital, Inc.

Home office: Branch office:

1211 Hamburg Turnpike 661 E. Burnsville Parkway

Wayne New Jersey Burnsville, MN 55337

Phone: (800) 848-7210 Phone: (877) 333-5864

Fax: (908) 234-9286 Fax: (952) 890-5103

E-mail: drouba@leasingpartnerscapital.com

E-mail: blarsen@leasingpartnerscapital.com

### Press Release #########################################

[Headlines]

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Please send to a colleague as we are trying to build our readership. Two

version: one free, the other $49.95 per year.

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Odds and Ends---Thursday

Affiliated Corporate Services, Inc.

(972) 221-7335

Affiliated Corporate Services, Inc. Announces Joint Venture Discussion =

with the Heritage Companies

By the way, you sent it to our old Jonestown, Texas office. Will you please change your records as well as alert your readers that ACSI no longer has that office open and that the Jonestown address, phone and fax numbers are not active. Our expansion and some really exciting forthcoming news requires that I spend

100% of my time in our Lewisville headquarters.

Affiliated Corporate Services, Inc (ACSI) is pleased to confirm that discussions are underway with John Otto of the Heritage Companies to form a new joint venture between the companies. (John Otto is a principal underwriter to

Centerpoint Financial, Denver, Colorado and Pentech Financial, Campbell, California, among others. editor )

You may print, according to Rick Galtelli, CEO of ACSI, "a joint venture combining both our resources would be a formidable force in the equipment leasing industry".

Although no details are available at this time and a

definitive written agreement has not been reached, discussions are occurring and a formal announcement will be forthcoming.

James R. Lahti, CLP

Affiliated Corporate Services, Inc.=20

1550 Waters Ridge Road, Lewisville, TX 75057

972-221-7335, Fax: 972-221-7336

May 14,2002:

BancPartners Texas Office

Warren Hawkins, president of BancPartners, closed the Lewisville, Texas

office and moved it to Austin, Texas.

“Steve Logan has made arrangements with the Texas Independent Bankers

Association, who has 600 customers with 900 banks, “ he explained.

“Steve has signed twelve banks to date. It takes three to six months to make

this work.

“Jim Lahti was great with brokers, and great to work with, “ he added.” But

we do best with community banks. Our program is with community

banks. Working with brokers was not our niche... I wish Jim and

Rick Gatelli the best as they understand that marketplace.

“We did over thirty million last year, “ Hawkins said. “ We will do

over thirty-eight million, maybe more, by specializing in community

banks. This is what we do best, and that’s what we want to stick with.”

Jim Lahti and Rick Gatelli have gone back to their old stomping grounds

as Affiliated Corporate Leasing Services.

http://www.acsitx.com/

http://www.bancpartners.com/

June 4, 2001

First Commerce Leasing now BancPartners

Six months into its merger with a Dallas firm, First Commerce Leasing Inc. has dropped that name in favor of BancPartners Leasing. At the end of 2000, First Commerce merged with Dallas-based Affiliated Corporate Services Inc. through a stock exchange deal expected to increase the combined company's volume by as much as 30 percent this year.

At the time, Jim Lahti said both businesses would continue operating under their respective names but would be owned by a new entity, First Commerce Holdings Inc. First Commerce largely retained its name but continued to promote its private-label leasing program, BancPartners Leasing. All of its operations -- led by president Warren Hawkins -- now share the BancPartners name.

BancPartners executive assistant Melissa Wright says the change became official June 1. "All of our ads have been changed," she says. This month, BancPartners added five new employees with more than 70 years of combined professional experience, including a lead generation officer and a credit manager.

"We're working hard to grow," Wright says. BancPartners Leasing provides master lease lines of credit, from $25,000 to $5 million, to a variety of industries in Alabama and Tennessee. Hawkins has projected a 2001 lease volume of more than $25 million. Headquartered in the Dallas suburb of Lewisville, ACSI specializes in small-ticket commercial equipment financing for small and mid-sized businesses.

During the last four years, ACSI originated more than $36 million in equipment leases and projects as much as $16 million in 2001. In the Feb. 9, 2001, edition of BBJ, Hawkins said the merger would give First Commerce a strong presence in the Dallas area and provide growth opportunities for its BancPartners Leasing division. BancPartners enjoys partnerships with eight Alabama banks and five in Tennessee, through which the company acts as the banks' leasing division via outsourcing arrangements. "There's a dynamic banking market in Central Texas that we're pursuing," Hawkins said.

January 26,2001:

Affiliated Corporate Services Merges With First Commerce Leasing

Affiliated Corporate Services, (ACSI) a Lewisville, Texas-based leasing company, has merged with First Commerce Leasing of Birmingham, Alabama, according to ACSI's Chairman, Richard A. Galtelli.

Both companies will continue to operate under their established names, but will be owned by a new entity, First Commerce Holdings.

ACSI Chairman and CEO Richard A. Galtelli and President James R. Lahti will continue in their current positions. Warren Hawkins of First Commerce will serve as president of the holding company and will continue as president of First Commerce Leasing. The move is considered to strengthen both entities as each party is bringing to the table what will help each other in this marketplace.

ACSI, established in 1982, will continue to specialize in providing small-ticket commercial equipment financing to small and mid-size businesses, according to the principals. ACSI has reportedly originated more than $40 million in equipment leases over the last four years, and is expected to originate $18 million to $20 million during its current fiscal year with the merger. They are also reportedly one of the largest super brokers in the Southwest.

Mr. Galtelli has been very active on the world wide web for a considerable time and considered an integral reason for the success of Affiliated Leasing. Mr. Lahti is past-president of the United Equipment Leasing Association and active at conferences with the National Association of Equipment Lease Brokers. He is very popular. He is a very well-known Dallas Cowboy fan, too.

Founded in 1983, First Commerce Leasing provides master lease lines of credit ranging from $25,000 to $5 million to a variety of industries in Alabama and Tennessee, resulting in an expected $35 million in business during it current fiscal year. The company also offers a customized, private-label leasing program to small community banks in Alabama and Tennessee under the name BancPartners Leasing

How M & C Leasing Made it: 50 Years in the Leasing Industry

Buffalo, NY, -- The key to longevity has been constant evaluation of

existing markets, the ability to create innovative programs and identify new

potential industries in response to an ever changing economic climate. M & C

opened its doors in 1953 leasing used vehicles to business customers in the

local market.

In the early 1960's competition grew in the auto leasing

industry and profit margins were squeezed. Recognizing the commercial

customers need for capital to acquire equipment, profit potential, and lack

of competition M & C entered the equipment leasing industry exclusively. As

the 1980's approached local success shifted focus to national potential and

the medical field (primarily home healthcare). Participation in tradeshows

and development of vendor relations sparked expansion into all 50 states.

The customer base grew and so did their desire for additional equipment

(other than medical) to satisfy office and warehouse needs.

In the mid 1990's there was a down turn in the home health care industry. The search for a new growing industry rich in discretionary income began. The golf

industry was the answer. Key partnerships created by innovative programs

such as leasing golf balls led to success within the industry

. In 2000 the desire to continue expansion and the industry need for funding sources prompted the opening of M & C Leasing Broker Services.

In 2003 M & C has