Credit Store names Riordan President and Chief Operating Officer.

SIOUX FALLS, S.D.--(BUSINESS WIRE)--April 22, 1997--Kevin T. Riordan became President and Chief Operating Officer of the Credit Store Inc. (EBB:PLCR), the consumer finance company, on April 1, 1997, the company said today.

The position of Chief Operating Officer is newly created. Riordan assumes the title of President from Martin J. Burke, who remains the firm's Chief Executive Officer. Riordan will be responsible for operations, strategic planning and quality assurance at the firm.

Riordan has more than 20 years experience in consumer finance. From 1995 to 1997, he was President and Chief Operating Officer of Long Beach Acceptance Corp., an automobile finance company focused on the non-prime and sub-prime markets. Riordan developed relationships with over 1200 auto dealerships nationwide for Long Beach. Current origination volume exceeds $40 million monthly; overall originations during Riordan's tenure were in excess of 20,000 loans. Under Riordan, Long Beach Acceptance also funded the largest single securitization by a first-time originator ever undertaken by an auto finance company. The placement was rated AAA by Moody's and Standard & Poor's. Long Beach Acceptance is headquartered in Oradell, NJ.

From 1985 to 1995, Riordan was President and Chief Executive Officer of Alliance Funding Company, a firm which he founded. Alliance Funding is recognized as one of the pioneers in the non-conforming mortgage loan industry. Riordan oversaw the securitization of over $2 billion, and the private placement of an additional $1 billion, in mortgage loans, during his tenure. From 1993 onward, he expanded Alliance Funding's markets to include auto lending, auto leasing, line of credit and unsecured loans. Alliance Funding has since become part of Superior Bank FSB. Prior to 1985, Riordan was a senior vice president at a national consumer mortgage company, which he left to start Alliance.

The Credit Store Inc., operating through its wholly-owned subsidiary Service One International Corp., is a national credit card company specializing in the marketing, underwriting and administration of credit cards issued to sub-prime debtors. Service One markets its credit cards under multiple trade names. Service One markets to consumers who have had an interruption in the repayment of their debt, and therefore may be excluded from financing through traditional sources. Service One services its loan portfolio from its central facility in Sioux Falls, using its proprietary analytics software and automated loan servicing system.

The Credit Store Inc.'s stock trades on the Electronic Bulletin Board under the symbol "PLCR."

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