CenCor Inc. announces results.

KANSAS CITY, Mo.--(BUSINESS WIRE)--April 17, 1995--CenCor Inc. ("the company") reported the results of its 1994 operations.

The company incurred a net loss of $1,512,000 (83 cents per share) for the year ended Dec. 31, 1994, as compared to a net loss from continuing operations of $7,256,000 ($5.45 per share) for the same period in 1993. The net income in 1993 was $10,077,000 ($8.10 per share) due to an $18,033,000 gain on restructuring of its long-term debt.

The decrease in the net loss from Dec. 31, 1993, to Dec. 31, 1994, was partially attributable to an increase in revenue of $5,997,000 (26%).

The increase was primarily due to an increase in income derived from increased net finance receivables outstanding and in an increase in insurance commission income.

The decrease in the net loss amount from the amount incurred during the year ended Dec. 31, 1993, was also a result of a reduction in salaries and operating expenses of $5,184,000 (27%). During the past year, the company's sole operating subsidiary, Century Acceptance Corp. ("Century") has sold or closed several non-strategic branches to obtain operating efficiencies. As a result of the elimination and consolidation of these offices, a reduction in operating expenses of $2,263,000 was realized. The reduction in operating expenses also reflects the elimination of many one-time expenses incurred in 1993.

Offsetting the increase in revenue and decrease in salaries and operating expenses was an increase in the provision for credit losses of $3,145,000 (162%).

The increase in the provision for credit losses in 1994 is partially a result of the increase in net finance receivables. In addition, the increase in the provision for credit losses in 1994 was necessary to bring the balance to appropriate levels for the existing portfolio mix.

The 1994 provision is consistent with historical trends except the provision for 1993. The amount of provision necessary to set the allowance at an adequate level for 1993 was abnormally low due to an aggressive charge-off program initiated in 1992.

The company also reported that Century has engaged the services of an investment banker for the purpose of locating potential purchasers for Century's consumer finance business.

Century is currently in the process of evaluating several proposals that it has received as a result of the engagement.

There can be no assurance that a potential purchaser willing to acquire Century's business at a price and on terms acceptable to the company will be located. -0-

                         CenCor Inc.
                     Financial Highlights

                                                For 12 Months Ended
                                               12/31/94      12/31/93

Revenue                                    $ 29,034,000  $ 23,037,000
Operating expenses, provision for
 credit losses, net interest expense         31,058,000    31,219,000
Operating loss                               (2,024,000)   (8,182,000)
Other income                                    512,000       926,000
Loss from continuing operations
  before extraordinary item                  (1,512,000)   (7,256,000)
Extraordinary item                                    0    18,033,000
Net income (loss)                          $ (1,512,000)  $10,777,000
Loss per share from continuing operations  $       (.83)  $     (5.45)
Earnings per share from extraordinary item            -         13.55
Earnings (loss) per share from net income          (.83)         8.10
Weighted average shares outstanding           1,815,080     1,331,058

CONTACT: CenCor Inc., Kansas City

Jack L. Brozman, 816/474-8002