Central Financial Acceptance Corporation Reports Operating Results for the Third Quarter of 2000.

Business Editors

COMMERCE, Calif.--(BUSINESS WIRE)--Nov. 10, 2000

Central Financial Acceptance Corporation (OTCBB:CFAC) announced today that revenues for the three months ended and nine months ended September 30, 2000 were $4,190,000 and $11,173,000, respectively, compared to $4,567,000, and $10,241,000 respectively, in the comparable periods of September 30, 1999.

The company also reported that net loss from continuing operations for the three months ended and nine months ended September 30, 2000 were $40,000, and $1,058,000, respectively, compared to net income of $429,000 and $463,000, respectively, in the comparable periods of September 30, 1999.

As previously announced, the company in December 1999 made a decision to shift its business focus and resources to its travel and Internet businesses, and sell its consumer finance business.

Accordingly, for financial reporting purposes, the results of operations for the consumer finance business has been treated as a discontinued operation in the company's consolidated financial statements.

The company also reiterated that in the fourth quarter of 1999, the company reported an estimated loss on the sale of the consumer finance business, which was partially offset by the company's estimates of future income from discontinued operations during the 12 months ended December 31, 2000, the phase-out period.

As a consequence of this accounting treatment, the company has not reported any income from discontinued operations for the three months and nine months ended September 30, 2000.

Also, as previously announced on October 2, 2000, the company's Board of Directors and stockholders owning a majority of the outstanding common stock approved a Plan of Complete Dissolution, Liquidation and Distribution (the "Plan"), under which the operations of CFAC were separated into two subsidiaries: Hispanic Express, Inc. and Banner Central Finance Company, whose outstanding common shares will be distributed to each CFAC shareholder on a yet-to-be-determined liquidation date.

In connection therewith, CFAC has submitted to the Securities and Exchange Commission (the "SEC") an Information Statement covering pertinent business and financial information required to be filed prior to CFAC effecting its dissolution and liquidation, and making the distribution of the common stock of these two subsidiaries to its stockholders.

Upon receiving appropriate clearance from the SEC, CFAC will determine the liquidation date under the Plan.

Gary M. Cypres, Chairman of the Board of CFAC, stated that "Hispanic Express, Inc. has been formed to operate CFAC's travel and small loan businesses, while Banner Central Finance Company has been formed to operate CFAC's mortgage origination business and to purchase consumer receivables which are generated from the sale of consumer products sold by an affiliated company."

Cypres further stated that "the Board of Directors decided to adopt the Plan as part of CFAC's continuing objective of enhancing long-term shareholder value and that the Board of Directors has the ability to abandon, defer or modify the Plan any time prior to the Plan's consummation, should other considerations, including the sale of CFAC's consumer finance business arise."

Central Financial Acceptance Corporation is a travel service company whose business primarily serves the travel needs of the growing low-income Hispanic population in California.

Certain statements in this press release constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995 which involve risks and uncertainties. The company's actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include but are not limited to economic conditions, credit quality, fluctuations in interest rates, the company's relationship with its airlines, capital availability, technology, competition in the geographic and business areas in which the company conducts its operations and other factors discussed in the company's Annual Report on Form 10-K.

      Central Financial Acceptance Corporation and Subsidiaries
                         Financial Highlights
                             (Unaudited)

                         Three Months Ended        Nine Months Ended
                           September 30,             September 30,
                         2000         1999         2000         1999

Total Revenues    $ 4,190,000  $ 4,567,000  $11,173,000  $10,241,000
Income (loss)
  from continuing
  operations          (40,000)     429,000   (1,058,000)     463,000
Income from
  discontinued
  operations               --      873,000           --    3,547,000
Net income (loss)   $ (40,000) $ 1,302,000 $ (1,058,000) $ 4,010,000

Basic earnings
  (loss) per
  share:
Income (loss)
  from
  continuing
  operations          $ (0.01)      $ 0.06     $ (0.15)      $ 0.06
Income from
  discontinued
  operations               --         0.12          --         0.49
Net basic earnings
  (loss) per share    $ (0.01)      $ 0.18     $ (0.15)      $ 0.55
Diluted earnings
  (loss) per
  share:
Income (loss) from
  continuing
  operations          $ (0.01)      $ 0.06     $ (0.15)      $ 0.06
Income from
  discontinued
  operations               --         0.12          --         0.49
Net diluted
  earnings (loss)
  per share           $ (0.01)      $ 0.18     $ (0.15)      $ 0.55
Weighted average
  common shares
  outstanding       7,166,000    7,263,000    7,172,000   7,272,000