ContiFinancial Services places Triad Financial non-prime auto transaction.

NEW YORK--(BUSINESS WIRE)--Feb. 27, 1997--Triad Financial Corporation ("Triad") today priced its first securitization of non-prime auto receivables totaling approximately $43,500,000 of Asset Backed Certificates.

Triad Financial, a Huntington Beach, CA-based company, and a majority-owned subsidiary of ContiFinancial Corporation (NYSE:CFN), is an automobile finance company engaged in the business of purchasing retail installment sale contracts from automobile dealers, for individuals with non-prime credit profiles. Triad provides funding primarily for late model used and some new vehicles.

The Asset Backed Certificates were sold in two tranches and were rated A and BBB, respectively, by Duff & Phelps Ratings Co. The 7.03% Class A Certificates and the 8.07% Class B Certificates were purchased at spread levels of 95bps and 200bps, respectively, over the 2 year treasury rate.

ContiFinancial Services Corporation, the NASD-registered broker/dealer subsidiary of ContiFinancial Corporation, structured and privately placed the notes.

ContiFinancial is a consumer and commercial finance company with headquarters in New York City. The Company, through ContiMortgage and other subsidiaries, is a leading originator, purchaser, seller and servicer of home equity loans made to borrowers whose borrowing needs may not be met by traditional financial institutions. In addition, ContiFinancial provides financing, securitization and, through ContiFinancial Services Corporation, bond placement services to originators of a broad range of loans, leases and receivables, including home equity loans, adjustable rate mortgages, sub-prime and non-prime auto loans, home improvement loans, franchisee loans, time-share loans, equipment leases, and multi-family and other commercial real estate mortgage loans.

CONTACT: Jerome M. Perelson

Senior Vice President

ContiFinancial Corporation

[phone]

Joseph Kist

Vice President

Edelman Financial

[phone]