FMAC Energy Finance Group is Picked by Exxon USA as Designated Lender for Its Branded Distributors.

PARSIPPANY, N.J.--(BUSINESS WIRE)--Oct. 26, 1998--FMAC's Energy Finance Group (NASDAQ: FMAX) has been selected by Exxon Company, USA as Designated Lender to provide long-term fixed rate financing for the company's 640 independent distributors.

In choosing to participate in the program, Exxon USA's branded distributors will receive significantly reduced closing costs and an automatic qualification for longer repayment terms. In addition, construction and development loans will be available for even the smallest of the distributors' retail store projects. Individual loans will range from $500,000 to $100 million with terms of 15 to 20 years. In addition, FMAC will offer equipment leasing for transactions ranging from $25,000 to $1 million.

Don Hakes, president of FMAC's Energy Finance Group, said, "As the company that pioneered cash-flow lending to the petroleum retail industry, we're well positioned to aggressively pursue this opportunity to support Exxon's growth strategies across the nation. We have already funded in excess of $250 million to Exxon branded retailers prior to being selected as Designated Lender, and we're excited about the opportunity to expand our relationship with Exxon."

Citing the benefits offered to Exxon distributors by this program, Jim Whitehurst, Exxon USA's Distributor Business Manager, said, "This program is a prime example of the advantages our distributors receive by being associated with the Exxon brand. We're pleased to offer this program in association with an outstanding mortgage lender such as FMAC."

FMAC (Franchise Mortgage Acceptance Company), founded in 1991, is a specialty commercial finance company engaged in the business of originating and servicing loans and equipment leases to small businesses, with a primary focus on established national and regional franchise concepts and multi-family apartment operators. The Los Angeles-based company has provided more than $5 billion in customer financing and has enabled investor participation through 13 securitizations of pooled loans totaling more than $2.1 billion. The company's overall servicing portfolio is $5.0 billion.

FMAC has regional offices in Atlanta, Dallas, Denver, Greenwich, Los Angeles and Newport Beach with local offices in several other states across the country.

Exxon USA, with headquarters in Houston, Texas, is the domestic oil and gas operating division of Exxon Corporation, based in Irving, Texas. Exxon USA markets its branded motor fuel at 8,500 locations nationwide, including the 6,200 locations in its branded distributor chain. -0-

Statements contained herein, other than historical data, may be forward-looking and are subject to risks and uncertainties including, but not limited to, the Company's ability to achieve its revenue and marketing plans, while effectively managing expenses, as well as those risks set forth in the Company's Form 10-K for the period ended December 31, 1997 and other SEC filings.

Editor's Note: Exxon distributors interested in the Designated Lender programs should call 1-888-819-4XON. For more information on FMAC's Energy Finance Group, readers should contact FMAC at 9 Campus Drive, Parsippany, N.J. 07054, phone: [phone].