FIRSTPLUS announces impending plans to install home improvement kiosks in Lowe's Home Improvement Warehouses.

DALLAS--(BUSINESS WIRE)--May 21, 1997--

Lowe's to Join FIRSTPLUS Team Cheever as Associate Sponsor

FIRSTPLUS(TM) FINANCIAL GROUP, INC. (Nasdaq:FPFG), -- announced today an impending business relationship to install stand-alone loan kiosks in Lowe's Home Improvement Warehouse outlets. As part of the agreement, for the first time in the history of Lowe's Companies, it will be part of the Indianapolis 500.

The companies announced today that Lowe's will be an associate sponsor on the FIRSTPLUS Team Cheever cars driven by Eddie Cheever (No. 51) and Jeff Ward (No. 52). Dallas-based FIRSTPLUS FINANCIAL, INC. is the primary sponsor of the two cars.

Owner-driver Cheever is a veteran of both the international Formula 1 and the Indy circuits. He holds the record for the fastest race lap in an Indianapolis 500, logging 236.103 on lap 78 of the 1996 event. In January, Cheever won the Indy 200 at the Walt Disney World Speedway in Orlando. Ward, a veteran Indy Lights racer and motocross champion, is competing in his first Indy.

"We are pleased with the addition of Lowe's to our racing team," said FIRSTPLUS Chairman and Chief Executive Officer Daniel T. Phillips. "Lowe's is a quality partner who's name is widely recognized and respected, and I know they bring the same commitment to winning as does the rest of Team Cheever."

"We are extremely excited about teaming with FIRSTPLUS to back the efforts of Team Cheever in their bid to win the 1997 Indy," said Dean Kessel, sports marketing specialist for Lowe's Companies.

"We have been extremely pleased with our NASCAR Winston Cup program, and are delighted to be able to expand our racing sponsorship to include the most famous race in the world as well as the rest of the 1997 Indy Racing League (IRL) schedule," added Kessel. "And a special thanks has to go to our friends at FIRSTPLUS for helping us put this program together."

On the NASCAR Winston Cup Series, Lowe's is the primary sponsor on the Mike Skinner-driven Chevrolet Monte Carlo. Skinner drives for six-time NASCAR Winston Cup Champion car- owner Richard Childress.

Skinner, a rookie on the Winston Cup circuit, won the pole position for the Daytona 500 on his first appearance in the Lowe's Home Improvement Warehouse Chevrolet.

Lowe's is one of the largest U.S. building supplies/home center chains with more than 400 stores in 24 states.

FIRSTPLUS(TM) FINANCIAL GROUP, INC., is a specialized consumer finance company that, through its subsidiaries, originates, purchases, services and secures consumer finance receivables, primarily home improvement loans, all secured by liens on the borrower's home. FIRSTPLUS, headquartered in Dallas, Texas has regional offices in Denver, Colorado; Holly Springs, Mississippi and Columbia, South Carolina. FIRSTPLUS provides consumer loans in 46 states through a combination of retail branches, loan-by-phone kiosks in malls, and over the phone.

CONTACT: Daniel T. Phillips, President & CEO

Eric C. Green, CFO

FIRSTPLUS FINANCIAL GROUP, Inc.

214/599-6400

or

Michele Katz/Geoffrey Buscher/Jason Langer

Press: Brian Maddox

Morgen-Walke Associates

212/850-5600