FOR IMMEDIATE RELEASE:

Portland, Oregon (March 25, 2002)-Portfolio Financial Servicing Company (PFSC) announced the launch of a new, standards-setting product for back-up and successor servicing of asset-backed portfolios. Available immediately, BackupPlus provides the most comprehensive, customized services and analysis available for leasing portfolios. PFSC announced that BackupPlus is being provided at the same cost as regular backup servicing for asset-backed securitizations and funding conduits. The new product complements the primary servicer's report by providing additional forecasts, highlights, and PFSC's operational, business, and financial perspectives.

According to Mr. Jerry T. Hudspeth, President and CEO of PFSC, "The current level of backup/successor servicing, both passive and "hotsite", is not sufficient to meet the industry's needs. The long-standing practice of accepting data from the primary servicer and either putting it on the shelf or giving it a cursory review or simple conversion and tracking does not match the industry's need for a heightened level of backup servicing, analysis, and review. PFSC believes it is imperative that backup and successor servicers provide a value-added product like BackupPlus to address this need. PFSC has developed the proprietary tools and has the staff experienced in servicing portfolios that allow us to quickly structure a custom program for each portfolio."

BackupPlus provides more in-depth, real-time analysis

"Lenders, rating agencies and insurers are becoming much more "hands on" with their portfolios," Mr. Hudspeth explained. "Rating agencies and insurers are mostly focused on the stability and predictability of cash flow. In addition, lenders are also requiring much more real-time analysis regarding asset type, demographics, static pools, net cash flows, customer industry trends, vendor concentrations, and residual realization projections. These increased analytical requirements are especially important for the regulated lenders and their internal reserve allocation."

Product Overview

As Backup or Successor Servicer, PFSC will immediately map and convert all portfolio data and create a portfolio unique environment on the PFSC analytical system. PFSC will then reconcile, test, and benchmark all current portfolio data using the servicer report and the servicer download files. As a result of the initial portfolio analysis, PFSC will generate a portfolio-specific program for analysis and testing of the portfolio data. PFSC will issue monthly backup servicer reports that include both data and narrative.

Typical analysis may include: reviews of servicer advances, tax collections, security deposits, write downs, payables, cash reconciliations, transaction and customer risk rating, loss and litigation recovery, residual realization, and trigger events. Analysis may also include detailed information such as demographics, or concentration in equipment types, vendors, asset locations, and customer industries. PFSC can also compare detailed portfolio data month-to-month to monitor changes in contract balances, residual values, new contracts, deleted/paid off contracts, delinquencies, and contract adjustments. PFSC may also sample selected contracts for data quality.

About PFSC

PFSC is the largest independent commercial lease and loan servicing company in the U.S. and is headquartered in Portland, Oregon. PFSC provides primary/master servicing, backup/successor servicing, and consulting for leasing portfolios. It currently services over $1.5 billion in assets. More information can be found at www.pfsc.com.