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Atlantic Bank Announces CompUSA Leasing Agreement.


BOSTON--(BUSINESS WIRE)--Sept. 24, 1998--Dolphin Capital Corporation ("Dolphin"), a wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 of Atlantic Bank and Trust Company, Boston, Massachusetts (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
:ATLB) ("Atlantic"), has entered into an agreement to provide lease financing to customers of CompUSA (NASDAQ:CPU CPU
 in full central processing unit

Principal component of a digital computer, composed of a control unit, an instruction-decoding unit, and an arithmetic-logic unit.
). Dolphin will provide consumer financing to the customers of CompUSA under a national program announced last week by CompUSA. Dolphin's proprietary Internet-based software, called PowerLease(TM), is an important part of CompUSA's consumer leasing program. PowerLease(TM) is designed to allow the store to upload application information, transmit the information to Dolphin for underwriting and receive a credit decision in minutes. Upon approval, lease documents will be printed at the point of sale and equipment will typically be available immediately to the customer.

Michael Rehling, President and Chief Executive Officer of Dolphin commented, "We are pleased that America's largest computer superstore retailer has chosen Dolphin to provide consumer lease financing to its customers. Our PowerLease(TM) software as well as our deep understanding of high-tech computer products will help CompUSA to better serve the needs of its customers".

Dolphin's leasing program should help CompUSA to attract new customers and retain existing customers by providing flexible financing options for new product sales and for upgrades to existing equipment. Detailed Internet reporting will be available to CompUSA's management to provide timely feedback on the status of each application.

This news release contains forward-looking statements regarding future events or financial performance. These statements are only predictions and actual events or results may differ materially. Investors should refer to the documents that Atlantic files from time to time with the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. , specifically the cautionary statement identifying certain factors that could effect future results included in the Management's Discussion and Analysis Management's discussion and analysis (MD&A)

A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial
 section of its most recent Annual Report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
.

Dolphin Capital Corporation is a nationwide provider of small ticket convenience leasing products. Located in Moberly, Missouri, and with high speed Internet connections to vendors via a fiber optic network, Dolphin specializes in consumer and commercial leasing products.

Atlantic Bank is a Massachusetts chartered, FDIC FDIC

See: Federal Deposit Insurance Corporation


FDIC

See Federal Deposit Insurance Corporation (FDIC).
 insured trust company which conducts business from its executive and main offices in downtown Boston and a branch in Chestnut Hill, Massachusetts Located six miles west of downtown Boston, Massachusetts, Chestnut Hill is a wealthy suburban village notable for its stately old houses, scenic landscape, and the historic campus of Boston College. .
COPYRIGHT 1998 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Sep 24, 1998
Words:365
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