FMAC Finances Sonic Image 2000; Franchise System Remodeling With FMAC's Support.

LOS ANGELES--(BUSINESS WIRE)--Oct. 5, 1998--Sonic Restaurants, a fast food chain, has signed an agreement with FMAC (NASDAQ: FMAX) Equipment Finance Group to provide more than $25 million in financing for the remodeling of its drive-in restaurants.

"Sonic needs lending partners that proactively respond to the unique issues faced by franchisees," said Keith Jossell, assistant treasurer for Sonic, headquartered in Oklahoma City, Okla. "FMAC Equipment Finance Group interacts with those issues expeditiously, which results in timely financing to our franchisees with relative ease.

"Because of the demands of our extensive retrofit program, FMAC has placed Chad Reynolds, FMAC marketing coordinator, at our corporate facility," explained Jossell. "Chad's presence and his energy have positively impacted our franchisees. His immediate availability to provide assistance to our franchisees as they compile and develop business plans has given them a dedicated resource that is not part of their own organizational structure. We are excited about the possibilities that our relationship with FMAC affords and look forward to a mutually beneficial partnership."

"As the restaurant franchise business becomes more and more competitive, FMAC is seeing a dramatic increase in remodeling and renovations taking place across the country," said John W. Rinaldi, president, FMAC Equipment Finance Group. "Sonic had special needs that only FMAC could deliver. Locating an FMAC loan officer on-site was one of a number of innovative solutions we offered."

The new features of the Sonic Drive-Ins include a catchy new "double-delta" logo, a redesigned parking canopy, new colors, decorative pylons and fiber-optic lighting, that changes colors. The drive-ins are also much brighter and festive with the addition of more neon lighting.

Sonic still features the carhop service with made-to-order, fresh food every time. Some Sonic favorites include hamburgers, French-fries, malts, shakes and floats. Sonic also maintains signature menu items such as Extra-Long Cheese Coneys, made-fresh-daily onion rings, Tater Tots, Fountain Favorite specialty drinks including Cherry Limeades, slushes, Flurry-blended floats, and a Frozen Favorites full dessert menu.

With headquarters in Oklahoma City, Sonic is the fifth largest hamburger chain in the United States. Started as a hamburger and root beer stand in 1953 in Shawnee, Okla., Sonic has grown to approximately 1,800 drive-in restaurants located in 27 states. The company's common stock is traded through the NASDAQ National Market System under the symbol SONC.

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 $4.9 billion, reflecting the purchase of Bankers Mutual. FMAC has other major offices in Atlanta, Dallas, Denver, Greenwich, Newport Beach and Parsippany, N.J., with regional offices in several other states across the country.

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: For more information, readers should contact FMAC at Three American Lane, Greenwich, CT 06831 800/884-3622 or access FMAC's Website at http://www.fmax.com.