Texas AG Joins NorVergence Fray

Our company ISPWEST, Inc. had a contract with Norvergence for internet, phone, & cell phones in Carson, California. Norvergence farmed out the lease to CIT financial, then went chapter 7. Now we have received one letter from CIT reminding us that we have no option but to pay the lease to them. They want $16000 for a useless router box. Not only have we not had phone/internet or cell phones for over three weeks, we have lost business because of this matter. We need help to get out of the Norvergence contract (which was farmed out to CIT). Is there any attorney out there who can help us? No one is trying to help the people affected by this mess.

please contact us at

(310)637-2100 or at

Email: deborahp@rock.com

if you can offer any advice or help. Thank you for your time.

Marina Del Rey, CA.:

Seeking representation/advice on failed NorVergence lease agreement. Equipment had been received, but we never received service, we made first months payment expecting reimbursement from NorVergence. We returned the equipment to Wells Fargo, registered-insured US Post, they accepted the return, but still hold us accountable to the lease. We have not received any statements for payment due, however their lawyer has informed me today (after I initialized contact) that we should have been served for being in default. He informed me that the lease agreement is a finance lease agreement and that we are not protected as consumers. Can anyone help?

E-mail: marcy@personalcreations.net

Georgia

Macon, GA.:

Am interested in a Chicago area attorney to represent Norvergence customer lessees having rental agreements purchased by IFC. IFC is based in Morton Grove, IL.

Steve Elliott

478.477.4818 x130

E-mail: selliott@mbrweb.net

Post a “free ad” seeking an attorney who specializing in equipment leasing:

http://64.125.68.90/LeasingNews/PostingFormLegal.htm

[headlines]

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

Who is Alex Wolf?

by Christopher Menkin

It is time to change the graphic from a world unplugged to the

“energizer bunny,” as the NorVergence problems keep going

and going as customers and creditors continue to fight each

other over financing of equipment that has very little value ( the best

bid on eBay was $150 for the heart of the equipment lease: the Matrix box.)

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=

5724172500&category=80226)

The Texas Attorney General has joined his counterparts in Illinois, Florida, New Jersey and Florida, issuing subpoenas to leasing companies involved in the NorVergence class action lawsuit to stop collecting on related leases, warning of legal actions. The claim is the lessees were had and the leasing companies should have known better, perhaps were even in “cahoots” with NorVergence. Worse, their main concern was making a profit and not protecting their

customer, the user of the product.

"We request that you immediately cease all efforts to collect on agreements purchased from NorVergence," stated a letter from Greg Abbott's office. "Continuing to attempt collection efforts on agreements secured by fraud could subject your company to substantial penalties."

First, these are not “orders” as the attorney general does not

have this authority for this type of situation. These are “requests,”

and the response is not only up to those served, but also to a

court of law to rule upon ( which may be appealed.)

Many lessees have viewed the attorney general announcements incorrectly. They believe they do not have to continue to make lease payments. The publicity seems to have compounded the

situation.

The internet has made it much easier to “write letters” and get

government officials, and even politicians, involved that the

leasing companies created a conspiracy against them. The

latest to join the fray is Senator Hillary Clinton of New York.

Hillary focuses on Norvergence probe

By DANIEL DUNAIEF

DAILY NEWS BUSINESS WRITER

Sen. Hillary Clinton is throwing the weight of her office behind the investigation into the bankrupt telecom Norvergence.

"I am extremely troubled by this situation," Clinton told the Daily News. "My office is currently looking into these serious complaints and has contacted the state Attorney General's office."

A spokesman for Eliot Spitzer confirmed the attorney general's office had received a call from Clinton's office and promised to share the results of the investigation with her.

As first reported Monday in The News, Norvergence - through its matrix box - promised to cut phone bills of small businesses by more than 30%.

When the company went bankrupt this summer, it left 11,000 customers nationwide with no phone service.

And it stuck them with contracts held by leasing companies like Wells Fargo and Commerce Bank for hundreds of dollars a month that they must keep paying.

The leasing companies have been playing hard ball with these small businesses, by suing them or threatening to damage their credit ratings.

"This is jeopardizing small businesses in the city," said Samantha Kahn, a manager at Jacobson Printing, which has been paying Wells Fargo more than $240 a month.

Other states have stepped in on behalf of small businesses.

Texas recently threatened to take legal actions against the leasing companies if they don't back off from the small businesses during the state's investigation.

"I'd like her to act in the same way" other states have acted, said Kahn.

Clinton said she's eager to find "the result of Spitzer's investigation and to working to ensure that justice is served for any business that was wronged

---

The above appeared in the October 7^th edition of the New York Daily

News and was sent to us by a reader.

In the meantime, the bankruptcy proceedings may

make many of these lawsuits subject and/or part of the out come. Rosemary Gambardella is the United States Bankruptcy Judge. As noted the deadline for filing a proof of claim must be received by the bankruptcy clerk's office from all creditors (except a governmental unit), November 29,2004. For a governmental unit, 180 days from the date of relief. Several hearings October 4^th hearing were postponed until October 5^th, but it appears more information is being assembled and matters are now scheduled for 10/19/2004 at 10:00 AM at Martin Luther King, Jr. Federal Court House - Courtroom 3E, Newark, New Jersey.

Judge Gambardella granted Forma Holt & Eliades, LLC “...an extension of time for the Trustee to assume or reject certain leases; and the court having considered the papers submitted...Ordered that the time within which the Trustee may assume or reject the Debtor’s unexpired leases for the rental of telephone equipment utilized by the Debtor’s former customers in connection with telecommunication services provided by the Debtor be and hereby is extended through and including December 31,2004, pursuant to 11

U.S.C-365(d).”

There are other such rulings and documents on file. This is brought

to readers attention that it appears any preliminary readings

will be made after the first of the year. Among the 111 debtors listed,

many are small, expecting “immediate” relief.

Here are some of the filings:

»www.thedigest.com/docs/norvergence/

Leasing News has printed the intentions of the class action suits, who

have sent the names and addresses of all the state attorney generals

to those with complaints, or have legal action in their state. Expect to

see more announcements from other state’s attorney general public

information officers.

As posted in Leasing News on, the Telecom Agents Association suggests lessees to continue to make leasing payments:

“First, whatever the amount of money that needs to be paid per month by an ex-Norvergence customer to avoid getting sued by the leasing company is much less than the cost of being sued by the leasing company from a distant state."

"Second, to have a judge decide that the whole Norvergence situation really was a "Ponzi scheme" such that the leasing agreements are invalid, the "whole Norvergence story" must be told in a courtroom where the judge is actually interested in the whole story - not just the small part of the story the leasing company wants to tell in their "nuisance lawsuit". To get an objective hearing of the "whole story" both legal co-ops have endorsed the idea of "going on the offense" by suing the leasing companies as a group through one of several group legal actions that have formed - see

www.NorvergenceClassAction.com. "

In the defense of Robert J. Fine, Director of Bank Relations, for NorVergence, it is said that NorVergence Capital, in which he was allegedly the president, did not book any leases. It is also said the man in charge of the day-to-day operations, who previous employees and others tell Leasing News, was the one they reported to, not either of the Salzano brothers. While the two brothers were in the office almost every day, they delegated control to Alexander L. Wolf, chief operating officer. Department heads reported to him. In all the

press releases we have seen or reviewed, he was the spokesman

quoted for the company.

Leasing News was told Robert J. Fine reported to Mr. Wolf, his

direct boss, who explained that what they were leasing was “standard” and the “procedure in the telecom industry.” He had come from Nortel, one of the providers, and was an expert in telecommunication service and sales. Fine was the respected banker entree, more a “public relations” man than involved in funding, sales, or operation of the company, Leasing News was told. Insiders say he is getting the notoriety because he was president of the Eastern Association of Equipment Lessors. There is in reality no connection between

the two as they did not do business, except he was an employee

of the company. He worked his way up from committee, to director,

and then to position of president of a trade association.

These allegedly were the NorVergence officers:

PETER SALZANO, PRES-CEO

ALEXANDER L. WOLF, COO

STEVE LEIBROCK, CTO

TERRY SKEMER, VP ENGINEERING

ART SCUTTARO, SR VP-APPLICATION SCREENING

JOE O'DONNELL, VP

A memo from the public relations firm handing the account, sent this

out as a background for Mr. Wolf.

“Chief Operating Officer: Mr. Alexander L. Wolf.

“Formerly of Nortel Networks, (2000-2001) Mr. Wolf was a Senior

Executive within Nortel Networks' Emerging Markets Group. Mr. Wolf's

areas of responsibilities within that Nortel Division have included

Business and Market Planning, Operational Planning & Realization,

Carrier Product Portfolio Development & Deployment, and Operational

Support System Planning & Implementation. While at Nortel, Mr. Wolf

also played a major role in helping emerging companies develop

comprehensive business & financial plans to support Seed and Stage A

operations. Due to the close relationship between Nortel and

NorVergence, Executive Management allowed Mr. Wolf to join NorVergence in October 2001. This has facilitated interaction between the two firms based on previous roles and relationships.

“Before joining Nortel Networks, Mr. Wolf was Head of Northeast Sales

Operations for Payback Training Systems, Inc., (1999) and pioneer in

the E-Learning industry that grew to $10 million in revenues before

his departure for Nortel. Mr. Wolf has more than 7 years of experience

within the Telecommunications and Data-Communications industries.

Previously, Mr. Wolf held leadership positions with Datatec (1998)

managing the sub-contractor relationship to the IBM account, and

Siemens, (1995-1998) where he developed and implemented cutting-edge technology solutions for some of the largest Global 100 firms.”

http://www.leasingnews.org/items/Interview%20on%20the%2019th%

20With%20Norvergence.htm

From the Fall edition of Muhlenberg College “Class Notes”

“’Alexander L. Wolf sends the following update: “My start-up company has gone from business plan to cash flow positive in its first full month of sales/operations (January 2002). We are growing very quickly!! I already have 90-plus employees in Newark, N.J. (Check out www.norvergence.com for details.)’ He also reports that he and wife Jenifer recently celebrated their second wedding anniversary, “’but it will be a few years before kids’.”

http://www.leasingnews.org/items/Muhlenberg%20Magazine

%20Fall%202002.htm

Before the bankruptcy of NorVergence, here is their Dun and Bradstreet report, showing chain of command, plus financial statements and credit ratings:

http://www.leasingnews.org/items/N-DNB.htm

Telecom Agents Association Review of NorVergence, Inc.

by Dan Baldwin, TAA Editor-at-Large, December 3, 2003,

explains how the program works, including the separate

service agreement, and gives indication that the lessees

were aware of the dual roles in the NorVergence program:

http://www.leasingnews.org/items/norvergence1.doc

A press release from NorVergence explains a new program:

http://www.leasingnews.org/items/NorVergence,%20Inc_%20%20NorVergence

%20Expands%20Product%20Offering%20Include%20Specialized%20Phones%

20for%20Mobile%20Workers.htm

At this time, many of those who looked at the program, considered it a “scam:”

http://www.leasingnews.org/items/Telecom.doc

The value of the equipment as per eBay bids:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=

5724172500&category=80226

Here is the 15 page NorVergence training manual on how

to sell the product and use equipment leasing:

http://leasingnews.org/PDF/SM_Training.pdf

Here is how the story is being printed in the media today:

http://www.tampabaylive.com/stories/2004/09/040922norvergence.shtml

Leasing News for over a year and a half before the bankruptcy filings was hearing “alarms” from users, lessees, and funders. As predicted last June, this is going to steam role into one of the largest leasing company public relations failures of modern times, and while early predictions have said there would be more than $3 million in losses, the ultimate, including costs will be a minimum of $100 million, and some believe it may wind up at $250 million.

There is no doubt this publicity has been one of the worst in

recent years, perhaps turning more businesses away from

entering into equipment leasing of any kind. It certainly

has gotten the attention of Hillary Clinton and other politicians,

which may include state attorney generals who run for office

every four years, or often seek higher positions.

[headlines]

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

Leasing Conference Count-Down-Latest News

UAEL Monterey, CA October 21-24
United Association of Equipment Leasing
http://www.uael.org/events/conferences/ace/default.asp

“This will be the best attended conference in many years. The 30th year Reunion Party and Welcome Reception on Thursday Evening , October 21, 2004, wail be a special night. We have attending the Reunion many of the Original Founding Members of WAEL/UAEL like Steve Dunham, Art Schwartz, Harold McAfee, Steve Head, Craig Knudson, Bob Jacobson, as well as most of the more recent Past Presidents and prior Board of Directors Members. There is an after hours Presidents reception (9PM til--) on Friday evening and an, always popular, Saturday Night Live Beach Party/Lobsterfest. There are close to sixty exhibitors for Friday and Saturday has some strong educational sessions as well as some afternoon team building. We are extremely exited about Monterey and hope to see you there.

Thank you.”

Joe

jwoodley@uael.org

ELA Palm Desert, CA October 24-26
The Equipment Leasing Association
www.elaonline.org/events/2004/annconv/convhome.cfm

“Will You Make THE LIST?"

“October 14^th Last Day to Register to be on the List.”

“What’s THE LIST? Only one of the most important networking tools in the leasing industry. Distributed onsite at the ELA Convention, October 24 – 26 at the JW Marriott Desert Springs Resort & Spa, Palm Desert, CA, the final Convention Roster lets the other 1000+ attendees know you’re there, and helps them seek you out. But October 14 is the last day to pre-register for the Convention, and thus to make the Roster. After that, you’re welcome to register onsite.

“Of course, maybe you aren’t planning to attend the ELA Convention. If not, you may be taking an awfully big risk. After all, the Convention is where things happen. Can you afford not to be where deals are done, relationships established, information gathered, insights given, reputations burnished, cigars smoked and cocktails consumed?

“ Don’t chance it! Register online today at http://www.elaonline.com/events/2004/annconv/convhome.cfm

If you have not attended an ELA Conference before, and are a non-member, you will be eligible to attend.

The education, conferences, and information available only to members on the web site are certainly worth joining)

AGLF Rancho Mirage, CA November 10-12
Association for Government Leasing and Finance
www.aglf.org/25AM04_fallpgm.pdf

MAEL Rosemont, Illinois November 18
Mid-American Association of Equipment Lessors
www.mael.org

To learn about these and other leasing associations, please go to:
http://www.leasingnews.org/associations.htm

If you are interested to learn more about the conference, please to the web

site noted.

[headlines]

"What Lessors Are Saying About…Compensation"

ELTnews

Equipment Leasing Association’s “Leasing Industry Compensation Survey” reported that 2004 salary budgets, as a percent of total payroll, declined in all employee categories. Executive and Middle Management salary budgets for the year declined 3.3 percent and 3.5 percent, respectively, when compared to 2003 salary budgets. Exempt- and Non-exempt employee pay budgets declined as well.

David Merrill of Fifth Third Leasing Company said he was surprised to see the data when it was released. “Based on our experience, the demand for top producers and seasoned leaders is high. The recruiters that we work with are very busy right now.”

Daniel McKew of Suntrust remarked that “It all depends on how each company does relative to budget. Many of our parent companies have been used to seeing 20 percent and plus growth. That cannot be sustained. When you fall below that number, your compensation is effected.”

Merrill added “I can only speculate that the reasons [for salary budgets declining] are, for one, the economy. Most lessors have seen improved volume year over year but are still behind on their new business volume goals. This slowness is offset somewhat by a strong improvement in credit quality and profits. Another reason is the pay mix (salary/incentive based pay) seems to be becoming more leveraged.”

One lessor, who asked not to be named said they thought salary budgets did decline and it was because many lessors were not replacing headcount lost to attrition. He also cited the industry continuing to shrink as merger activity continues. So, more volume is being done with fewer players doing it, and this particularly impacts the executive level. Also, the anonymous source said too many players are chasing too few deals, making for decreased spreads for all and decreasing volume for more marginal players.

“I know that we have utilized more temp help and outside consulting firms this year to get work done in lieu of hiring additional staff,” said Jeff VanCleve of Diebold Credit Corp. “Perhaps this is contributing [to down compensation] along with continued industry focus on improving employee productivity. The industry is doing better, but the low rate environment has significantly reduced revenues, and margins are quite low for most, necessitating a continued focus on controlling costs, especially headcount.”

Will this deter new people from joining the industry?

“I don't think a three percent drop will detour new employees from joining the industry. Overall the leasing industry still offers a competitive wage compared to the broad financial services/banking industry,” said Merrill.

McKew added, “New players will join the industry when spending begins again. It is a natural economic cycle. We just all have to make it through the

down period.

[headlines]

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

ELA Fleming at LeaseEurope Conference

ELTnews

"Today the Lease only has product power through great execution," ELA President Michael Fleming told delegates to the opening session of the LeasEurope Conference in Italy Monday.

"Otherwise the lease is just a commodity." In a presentation on the U.S. leasing marketplace, Fleming told delegates that leasing is strong and will get stronger.

"However," he said, "leasing will be a company by company story as companies provide value to customers." Fleming told the 400 attendees that today the leasing business' success stories are of individual company success involving a lease product, not about the lease per se.

Fleming also described how the problem stories are about lease programs or lease products as reflected by: Cross Border tax exempt leasing; Highly structured transactions, and; the "NorVergence matter" which are calling on necessary commercial finance practices and documentation such as assignability and hell or high water clauses.

[headlines]

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

Classified Ads---Help Wanted

Brokers

Brokers. We get deals done! We can help you make more money. We are on top of the changing marketplace with more sources due to our volume. Must have 4 years of leasing experience w/ strong client base. 70% Commission, 70% Residual. Barbara Griffith bgriffith@socalleasing.com or 714-573-9804

About the company: SCL has been in business for 12 years. We are contracted with multiple funding sources which enables us to provide more competitive rates and flexible terms and conditions.

Funding/Loan Processor

Funding/Loan Processor: Irvine, CA. Experienced Lease/Loan Processor to join growing operations staff. Must be organized and very detail oriented. Leasing experience helpful but not main determinant.

Vendor Sales Specialist: Experienced in developing relationships & vendor programs. Will need to establish/head our new vendor division. Must be knowledgeable in all aspects of leasing from the broker lessor perspective.

Please E-mail resume to: elang@nationwidefunding.com

About the Company: Nationwide Funding, with its prime location in Southern California and offices in Chicago, has been able to secure specialized credit facilities and create funding partnerships with a wide variety of financial institutions. This diversity allows us to be a complete funding partner for your business.

CFO / Leasing Sales Leader

[

Leasing Sales Leader: Atlanta GA.
Outstanding opportunity for highly motivated, exp. leasing rep. for fast growing tech solutions provider. Unlimited earnings potential, fast paced enviroment. Exper. end-user sales/ tech leasing required.
Full description here.
Email: OHCResumes@OHC-LLC.com

CFO: Atlanta, GA.
CPA/10yrs exp. required. Direct/oversee all financial activities and manage leasing operations. Full description here.
Email: OHCResumes@OHC-LLC.com

About the Company: Located in Atlanta GA. Optimus Solutions is a leading provider of enterprise Information Technology solutions including systems, storage, and software enhanced by a complete range of integration and consulting services.
http://optimussolutions.com/

Dealer Credit Finance Analyst / Dealer Credit Finance Services Supervisor

Dealer Credit Fin. Analyst, Torrance, CA Click here for full descrip. & to apply.

Dealer Credit Fin. Services Supervisor, Torrance, CA. Click here for full descrip. & to apply.

To learn more about us, please visit: www.toyotafinancial.com/careers

Vendor Account Executive

Vendor Account Executive: Troy, MI, Proven sales exp in developing vendor relationships. Must be knowledgeable in all aspects of leasing. Strong communication skills. Send email to resume@leasecorp.com

About the Company: Lease Corporation of America is a well established, 16 year old, national equipment leasing company.

Cost of classified help wanted ads:

Two weeks

$400.00 for four lines for ten days

$50.00 per line the next four lines

$25.00 per line thereafter

Logo is free.

A description of your company is free ( not more lines than your ad.)

We will help you write the ad, add a job description url or point

to your web site full job description.

http://64.125.68.90/LeasingNews/PostingFormWanted.asp

[headlines]

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

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

Tim Taylor Joins Dumac Leasing

We are pleased to welcome Tim Taylor as the new Dumac Leasing Assistant Manager. The Assistant Manager position was created so that we can continue to provide excellent customer service as our business grows. We now have more resources to ensure quick turnaround on lease applications and to make improvements to our broker program.

With 20 years of experience in banking and the finance industry, Tim has a solid background in credit, collections, documentation and sales. His career began in customer service and he understands how important that is in retaining excellent relationships. Prior to joining Dumac, he spent the last 8 years working for a national leasing company and was involved in nearly all aspects of the equipment leasing business.

A California native, Tim has lived in the Santa Rosa area for the last 21 years. In his spare time Tim enjoys gardening and playing golf. Tim attended Montclair State University in New Jersey. He graduated with a Bachelor of Science in Business Administration.

We are sure that you will enjoy working with Tim. He will gradually get to know you as he works with your lease applications. He may be contacted as follows:

Direct Phone 707-521-5132

Email ttaylor@exchangebank.com

[headlines]

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

The Cambridge Capital Group Relocates to Yorba Linda

Company Provides Full-Service Commercial Equipment Financing

Jamie Kaneshina

Yorba Linda, Calif. – In early September, The Cambridge Capital Group celebrated the grand opening of their new company headquarters in Yorba Linda’s Savi Ranch Center. The business is a national, full-service commercial finance company funding business-essential equipment ranging in cost from $10,000 – $5,000,000.

The Cambridge Capital Group funds equipment for a variety of industries including construction, technology, restaurant, printing and telecommunication to name a few. The company is able to provide flexible payment structures and 100% financing to preserve customer’s bank lines of credit.

Three industry experts bring over 35 years of experience to the firm. Jaime A. Kaneshina, CLP serves as the Director of Finance, Heather L. Wright runs the daily business as Director of Operations and Mark Y. Askary will service customers in his role as Director of Business Development. Mr. Kaneshina recently stated, “Our business aims to provide customers with knowledgeable, professional and friendly service with a quick turnaround from application to funding.”

The Cambridge Capital Group is located at

22800 Savi Ranch Parkway, Ste. 204,

Yorba Linda, CA 92887.

For more information call

(714) 221-1488 or visit,

www.thecambridgecapitalgroup.com.

[headlines]

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

Group Financial Services announces long-term alliance with

Z Resource Group to

expand originations in Health Care Sector

New York, NY, -- Group Financial Services, a leading originator of Medical leases and loans, has announced a strategic alliance agreement with Z Resource Group to help expand the sales team and processing infrastructure of Group Financial Services.

Under the terms of the agreement, Z Resource Group will be bringing a combination of consulting and recruiting services to Group Financial Services and ultimately, look to support the business with an additional $100 million per year of originations in the health care channel through the talent acquisition of top Health Care Leasing and Financing representatives.

Greg Einhorn, Director Of Sales of Group Financial Services related, “We are excited about the growth prospects of our organization. We are pleased with this new partnership with Z Resource Group that is already paying dividends in our growth plans. The principals of Z Resource Group understand our business and their executive recruiting team will assist us in filling several open spots in targeted markets.”

Larry Hartmann, Managing Director of Z Resource Group stated, “Group Financial has a rich 25+ year history of success as an independent lessor focused in the health care niche. With their strong funding capabilities in place, coupled with a comprehensive and creative product offering for the health care vendor marketplace, GFS is in a strong growth mode. We are looking forward to helping them achieve their growth plans”.

About Group Financial Services

Group Financial Services is a Nationwide, 28-year-old business focused in providing leasing and financing products and services to the health care vendor and direct marketplace. The firm provides outsourced solutions as a captive finance arm for a variety of medical dealer associations and manufacturers as well as a strong direct presence in targeted markets. The firm has originated over $700 million in medical leases and loans and is targeted to fund in excess of $100 million this next year. Group Financial Services has offices in Delaware, New York, Pennsylvania, South Carolina, Texas and now New Jersey.

For more information,

contact Greg Einhorn

at 1-800-336-8562 or

visit their web site at

www.finservices.com

About Z Resource Group

Z Resource Group is a fast growing, nationwide specialty Executive Search, Staffing and Consulting Firm and a recognized leader in the leasing industry. The company is entering its sixth year of successfully providing value added services to several key markets, including financial services, technology, and healthcare. Headquartered in the Boston, MA area, the company maintains branch offices nationally.

For more information,

contact Larry Hartmann

@ lhartmann@zrgroup.com

or for ore information on the company,

visit www.zrgroup.com.

[headlines]

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

Calazzo’s Joins LPC “Fast Growing Leasing Company in U.S.

Wayne, NJ—Leasing Partners Capital, Inc., one of the fastest growing leasing companies in the U.S., has added a Telemarketing Manager to its Team.

LPC is pleased to announce the addition of Frank Caiazzo as Telemarketing Manager located in Wayne, NJ. Frank will be developing key programs for LPC’s sales representatives and Territory Managers. This will allow LPC to launch all of it’s telemarketing programs internally.

Frank earned his BA from William Paterson University in Wayne, NJ.

Frank has nearly twenty years experience in sales and marketing, primarily with several high profile securities firms.

“About the Company”

Leasing Partners Capital, Inc. (LPC) is a small to lower-middle-market equipment leasing company working with vendors and end users, headquartered in Wayne, NJ. LPC currently has offices in Naples, FL, Louisville, KY, Atlanta, GA, Pittsburgh, PA, Minneapolis, MN, Houston, TX, San Francisco, CA, St. Louis, MO, Boston, MA, Detroit, MI, Seattle, WA, Litchfield, NH, Tampa, FL, Warwick, NY and Ft. Lauderdale, FL.

For additional information or questions about LPC,

contact Bruce Larsen,

National Sales Manager,

877-333-5864 or

email him at blarsen@leasingpartnerscapital.com,

or check out their

web site @ www.leasingpartnerscapital.com.

[headlines]

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

CLEARLINK Capital Corporation: Normal Course Issuer Bid

MISSISSAUGA, Ontario-- CLEARLINK Capital Corporation (the "Corporation") (formerly MFP Financial Services Ltd.) announces that the Toronto Stock Exchange has approved the renewal of the Corporation's normal course issuer bid which will commence on October 7, 2004 for a 12 month period until October 6, 2005. The maximum number of shares which can be purchased under the issuer bid through the facilities of the Toronto Stock Exchange will be approximately 5% of the common shares outstanding or 449,000. All shares purchased under the normal course issuer bid will be cancelled. As of September 21, 2004, 8,994,651 common shares were outstanding and 2,500 common shares had been purchased during the previous year's issuer bid at an average purchase price of $7.84.

CLEARLINK Capital Corporation is a leading provider of innovative financial solutions in technology and equipment leasing, and equipment trading. Based in Mississauga, Ontario, Canada, CLEARLINK operates throughout North America and Europe.

2281 North Sheridan Way

Mississauga, Ontario, Canada

L5K 2S3

Phone: (905) 855-2500

Fax: (905) 855-2725

[headlines]

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

Willis Lease Expands Revolving Credit Facility by $12.5 Million

SAUSALITO, Calif.-----Willis Lease Finance Corporation (Nasdaq:WLFC) announced today that it has expanded one of its primary revolving credit facilities by $12.5 million, bringing the total facility to $138.5 million. The bank syndicate was expanded to include CDC IXIS, a French bank with assets of more than EUR 71 billion ($86 billion US), which contributed $10 million to the facility. National City Bank also increased its commitment by $2.5 million.

This credit facility was renewed in June 2004 for $126 million. The syndicate of banks was led by Fortis Bank (Nederland) N.V. as structuring and security agent, and National City Bank as administrative agent. California Bank & Trust, City National Bank, Wells Fargo Bank, HSH Nordbank, and State Bank of India are also participants in the credit. This and other credit facilities support the company and its subsidiaries in financing the $498.1 million equipment lease portfolio as of June 30, 2004.

"Additional capital is a key component in our ability to meet rising demand in the market for leased engines," said Charles F. Willis, President and CEO. "The addition of CDC IXIS to the facility helps promote our strategy of funding an international business with a diverse group of lenders from around the world. We are looking to expand our credit facilities even further, to give us more flexibility to grow as the global aviation industry continues to improve."

About Willis Lease

Willis Lease Finance Corporation leases spare commercial aircraft engines, rotable parts and aircraft to commercial airlines, aircraft engine manufacturers and overhaul/repair facilities worldwide. These leasing activities are integrated with the purchase and resale of used and refurbished commercial aircraft engines.

Willis Lease Finance Corporation

Monica J. Burke,

Chief Financial Officer

415-331-5281

[headlines]

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

Edmunds.com Reports Automakers' True Cost of Incentives: All-Time Record Incentives Likely Cause of Strong Sales in September;

Domestics Gain Market Share While

Honda, Toyota and Lexus Slip

SANTA MONICA, Calif., -- Edmunds.com (http://www.edmunds.com), the premier online resource for automotive information, reported today that the average manufacturer incentives per vehicle sold in the United States was $3,146 in September 2004, up $425 or 15.6% from August 2004, and up $524 or 20.0% from September 2003. This is the highest industry average since Edmunds began tracking manufacturer incentives in January 2002, and Edmunds.com's experts believe incentives have never been higher.

Edmunds.com's monthly True Cost of Incentives(SM) (TCI(SM)) report takes into account all of the manufacturers' various United States incentives programs, including subvented interest rates and lease programs as well as cash rebates to consumers and dealers. To ensure the greatest possible accuracy, Edmunds.com bases its calculations on sales volume, including the mix of vehicle makes and models for each month, as well as on the proportion of vehicles for which each type of incentive was used.

Overall, combined incentives spending for domestic Chrysler, Ford and General Motors nameplates was $4,279 per vehicle sold in September 2004, up $428 from August 2004 and up $661 from September 2003. Chrysler increased incentives spending from $384 to $3,778 per vehicle while losing 0.7% market share since August 2004. Ford increased its incentives by $74 per vehicle, setting a new Ford record TCI of $4,048, and gained 0.8% market share. GM increased overall incentives by $612, setting a new GM record TCI of $4,593 per vehicle and gained 3.4% market share.

"The domestics are focused on clearing out 2004 model year vehicles, and their use of dramatic incentives have been quite effective," said Dr. Jane Liu, Vice President of Data Analysis for Edmunds.com. "Domestic market share is climbing; they gained an impressive 3.5% last month to reach the highest level this year, 61.2%, and are 1.7% ahead of where they were this time last year. Chevrolet in particular experienced a tremendous sales month in September, likely because of attractive deals that enticed customers without destroying the bottom line or the image of their reinvigorated product line."

In September 2004, European automakers spent $2,497 per vehicle sold, $744 higher than September 2003 but $324 less than August 2004, and lost 1.2% market share. Japanese automakers spent $911, $54 less than September 2003 but $49 more than August 2004, and lost 0.6% market share. Korean automakers spent $2,207, $823 more than September 2003 and $325 more than August 2004, and gained 0.1% market share.

Of all brands, Mini spent the least on incentives in September, $13 per vehicle sold, while Scion spent only $89 and Acura spent just $251. At the other end of the spectrum, Cadillac spent the most on incentives, $6,281 per vehicle sold, followed by Lincoln at $5,566 and Mercury at $5,434.

Last month Chevrolet gained the most market share, growing from 17.0% in August 2004 to 19.7%, while GMC rose from 3.5% to 4.3% and Ford climbed from 15.4% to 16.1%. Pontiac and Lincoln also experienced noteworthy gains. During the same period, the Honda brand lost the most market share, dropping from 7.7% to 6.5%, while Toyota fell from 10.0% to 9.2% and Lexus slipped from 1.8% to 1.4%.

"Thanks to incentives, the top five market share gainers last month are domestic while the three with the biggest declines are Japanese," observed Dr. Liu.

Among vehicle segments, large SUVs offered the highest average incentives for the sixth straight month, $5,196 per vehicle, a new market segment TCI record. Other segments with high incentives were large trucks at $4,053 and large cars at $3,838. Compact cars had the lowest average incentives at $1,783, followed by compact SUVs at $2,018 and luxury sport cars at $2,084. Large trucks gained the most market share, up from 15.6% in August 2004 to 17.8% in September 2004, while large SUVs went from 5.6% to 6.7%. By contrast, compact cars fell from 14.9% to 13.6% and midsize cars dropped from 15.9% to 14.8%.

"The bargain-hunters were clearly all over dealership lots in September, responding in droves to the most generous incentives," stated Dr. Liu.

About Edmunds.com True Cost of Incentives(SM) (TCI(SM))

Edmunds.com's TCI(SM) is a comprehensive monthly report that measures automobile manufacturers' cost of incentives on vehicles sold in the United States. These costs are reported on a per vehicle basis for the industry as a whole, for each manufacturer, for each make sold by each manufacturer and for each model of each make. TCI covers all aspects of manufacturers' various incentives programs (except volume and similar bonus programs), including dealer cash, manufacturer rebates and consumer savings from subvented APR and lease programs (including subvented lease residual values used in manufacturer leasing programs). Data for the industry, the manufacturers and the makes are derived using weighted averages and are based on actual monthly sales and financing activity.

About Edmunds.com, Inc.

Edmunds.com is the premier online resource for automotive information. Its comprehensive set of data, tools and services, including Edmunds.com True Market Value(R) pricing, is generated by Edmunds.com Information Solutions and is licensed to third parties. For example, the company supplies over 800,000 pages of content for the auto sections of AOL and NYTimes.com, provides weekly data to Automotive News and delivers monthly data reports to Wall Street analysts. Edmunds.com was named "best car research" site by Forbes ASAP, has been selected by consumers as the "most useful Web site" according to every J.D. Power and Associates New Autoshopper.com Study(SM) and was ranked first in the Survey of Car-Shopping Web Sites as reported by The Wall Street Journal. The company is headquartered in Santa Monica, Calif. and maintains a satellite office outside Detroit.

SOURCE Edmunds.com

CO: Edmunds.com

ST: California

SU: SVY

Web site: http://www.edmunds.com

[headlines]

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

New Valuation Firm—Vista Consulting Group

Rick Daubenspeck, ASA and Bill Carlson have recently established Vista Consulting Group, Inc. which is an independent appraisal/advisory firm with more than 25 years of experience in the leasing industry. Vista's unique and broad experience enables them to focus their efforts from the internal equipment manager’s perspective as well as that of the equipment appraiser in order to develop reliable and objective opinions. Vista personnel have excelled as both equipment managers and appraisers, and they provide an understand the challenges that equipment lessors are currently facing. Vista's independence allows them to provide a wide range of services while enabling their clients to obtain the service they desire in a cost-effective manner.

Services include equipment valuations, site inspections, industry and market research, leasing consulting support and industry studies. For more information check out their website at www.vistacg.com.

Sites of Reference:

http://www.vistacg.com

CONTACT:

Rick Daubenspeck, ASA

Vista Consulting Group, Inc.

Phone Number: (508) 345-0045

Fax Number: (508) 342-7333

E-mail: rick@vistacg.com

[headlines]

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

Equipment Financing Group, Inc. signs with PayNet, Inc.

Equipment Financing Group, Inc., Fresno, Ca, has entered into an agreement with P