Accel Financial: Record Volume of Lease Originations Recorded in June Increase of 511 Percent Over June 1997.

VANCOUVER, British Columbia--(BUSINESS WIRE)--July 7, 1998--Accel Financial (Alberta Stock Exchange:AFG) Mr. Rod Hamilton, Chairman of Accel Financial Group Ltd. announced today that lease financing originations from the company's consolidated operations totaled $4.7 Million in June 1998 compared to $768,000 in the same period in 1997.

This represents an increase of 511 percent. Mr. Hamilton reported that lease originations from its wholly owned operating unit, Accel Capital Corp. increased by 22 percent for the comparable period. The balance represents 100 percent of the originations from the Onset Capital Corporation unit, in which the company has a 31.5 percent ownership interest.

"We find it interesting that it is front page news when US companies announce they are moving north to capture a slice of the lucrative Canadian asset-based loan market, yet relatively little is made of the successes of companies like ours which are providing innovative made-in-Canada financing solutions," said Mr. Hamilton.

"We are on track to finance between $60 and $80 Million of consolidated lease originations in the first year following the launch of Onset Capital Corporation. Our two operating units have firmly established themselves in their respective niches in the Canadian marketplace. From a standing start on March 1st, Onset Capital has had a tremendous ramp up period. Originations have exceeded forecasts every month. It is a tribute to Joe LaLeggia, CEO of Onset Capital and his management team, that they already have fully staffed offices in Vancouver, Toronto and Montreal providing comprehensive services to customers in every major centre and region in Canada."

"Our joint venture partner in Onset Capital, T&W Financial Corporation (Nasdaq:TWFC) also deserves a lot of credit," said Mr. Hamilton. "They are recognized as leaders in the small-ticket sector of the U.S. market. They delivered instant access to all warehouse and securitization facilities which Onset Capital required to meet the rapid demand for its services. A Canadian warehouse credit facility has now been approved by CIBC and is scheduled to be ready for access within the next two weeks. And a Canadian securitization facility through CIBC Wood Gundy is expected to receive final approval shortly thereafter."

"Accel Capital Corp. continues to increase both the quality and volume of its originations in the non-conventional segment of the Canadian market. Ontario is currently the strongest source of originations, followed by Alberta and British Columbia. We made a strategic decision in the last half of 1997, to reduce our activity in the resource sector. We chose to focus instead on sectors such as the service, recreation/entertainment and hospitality industries which have proven to be very strong."

Mr. Hamilton added, "It is clear to us that the demand for non-banking, asset-based financing in Canada is steadily increasing. Consolidation in the finance and banking industry continues to create great opportunities. Vendors, manufacturers and users of equipment continue to require innovative financing solutions delivered by knowledgeable and service-oriented organizations."

Accel Financial Group Ltd. is a Canadian lease industry leader in providing financing for small ticket equipment leases to businesses. With its head office in Vancouver, Accel carries out its financing operations throughout Canada through its wholly-owned operating unit, Accel Capital Corp. and its 31.5 percent interest in the operating unit, Onset Capital Corporation.

Note to Editors: The Alberta Stock Exchange neither approves nor disapproves the information contained herein.

CONTACT: Accel Financial Group Ltd.

Ben Buan, 604/646-2229

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