''CenterOne Financial Services'' Promises to Make World Omni No.1 in 3rd Party Loan Servicing.

Business Editors

DEERFIELD BEACH, Fla.--(BUSINESS WIRE)--Feb. 24, 2000

World Omni Financial Corp. announced today that it has created CenterOne Financial Services(TM), a new division that will provide third-party servicing for prime-consumer loans and auto leases, as well as commercial auto dealer loans. The division will be launched at the Consumer Bankers Association Automotive Finance Conference in San Francisco, March 5 - 8, 2000.

Through its CenterOne Financial Services(TM) Division, the company will now make third-party servicing a major focus of its financial services business. For consumer loans and leases, they will concentrate on three key areas: Loan/Lease Originations including application entry, decisioning, discounting and funding; Account Management including customer service, insurance follow-up, payment processing, loan accounting, collections and investment reporting; and Asset Management including proactive termination, telemarketing, remarketing and termination processing.

For dealer loans, through an affiliation with DataScan Technologies, LLC, CenterOne will offer system processing as well as audit, administrative, credit monitoring and information services.

Third-party servicing is not a new venture for World Omni -- it has serviced many large clients over the years and currently perform a number of servicing functions for AutoNation Financial Services, the captive finance arm of AutoNation. However, the formation of CenterOne Financial Services(TM) signals the company's strategic decision to be more aggressive in third-party servicing and to be the leader in this market.

"The demand in the market for loan servicing is exploding. In fact, the vast majority of mortgage and credit card business that banks do today is being outsourced to third-party servicers. Now it's time for banks to outsource their auto-finance portfolios as well," said Louis Feagles, president of Financial Services, JM Family Enterprises, Inc., World Omni Financial Corp.'s parent company.

According to Feagles, CenterOne is well positioned to be the leader in the servicing business for several important reasons:

     -- Its sole focus is auto finance and third-party servicing.
     -- The company will offer "end-to-end" services that manage all
        aspects, not just certain components.
     -- The company has more than 17 years of loan servicing
        experience.
     -- Due to its size and efficiency, World Omni has lower
        operating costs than most small-to-mid size financial
        institutions and passes those savings along to its customers.
     -- World Omni has state-of-the-art technology.
     -- The third-party servicing market is relatively untapped.

To head the division, Feagles has called on Lisa Wheeler, a 16-year World Omni veteran, who will serve as vice president of client services. Most recently, Wheeler served as an assistant vice president of business systems and client relations. Also, effective March 1, 2000, Walter Cunningham, formerly of Benchmark Consulting International, will join World Omni to serve as CenterOne's national sales manager. Cunningham served as Benchmark's AutoFinance Lending practice manager for 13 years prior to joining World Omni.

The company will service new accounts from its Customer Service Centers in Mobile, Ala. and St. Louis, Mo. Administration of CenterOne will be based at World Omni's headquarters in Deerfield Beach, Fla.

World Omni Financial Corp., serving automotive retail outlets throughout the U.S., offers a complete range of customer-driven automotive financial products and services. The company employs more than 900 associates and has assets of $9.1 billion.

Ranked by Forbes magazine as the 18th largest privately-held corporation in the United States, JM Family Enterprises, Inc., headquartered in Deerfield Beach, Fla., is a diversified automotive corporation whose principal businesses focus on vehicle distribution and processing, finance and warranty services, and insurance products and services. In January 2000, the company was ranked by a survey in FORTUNE magazine as the 49th best company to work for in the U.S.

For more information about World Omni Financial Corp. and JM Family Enterprises, Inc., visit their website at www.jmfamily.com .

Note to Editors: Digital photos of Louis Feagles, president of Financial Services, JM Family Enterprises, and Lisa Wheeler, vice president of client services, CenterOne Financial Services(TM) Division, can be e-mailed to you. Contact Matt Pieper at 954/418-5127 to request.