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SOLAR FINANCIAL SERVICES ANNOUNCES RECORD FOURTH QUARTER AND FISCAL YEAR END RESULTS

 SOLAR FINANCIAL SERVICES ANNOUNCES
 RECORD FOURTH QUARTER AND FISCAL YEAR END RESULTS
 MIAMI, Aug. 18 /PRNewswire/ -- Solar Financial Services, Inc. (NASDAQ: SOFI) (the "company") today reported its fourth quarter and fiscal year end results. For its fiscal year ended May 31, 1992, the company earned an after tax profit of $966,429 on revenues of $18,588,943. This compares with an after tax profit of $170,942 on revenues of $9,403,840 for the company's fiscal year ended May 31, 1991.
 For the three month period ended May 31, 1992, the company reports revenue and after tax profit of $6,185,450 and $152,414, respectively, as compared to revenues and after tax profits of $2,801,593 and $23,142, respectively, for the three month period ended May 31, 1991.
 The fiscal 1992 results includes the operations of Don L. Motors Finance, Inc., a company that was acquired effective May 31, 1991. Revenues for Don L. Motors Finance, Inc., were approximately $1.8 million for fiscal 1992. No revenues for Don L. Motors Finance were included in the fiscal 1991 results of operations.
 David Pavsner, the company's president and chief executive officer, stated, "We are pleased with the performance of the company over the last fiscal year and especially for the fiscal quarter ended May 31, 1992."
 Although the company reports improved financial performance over the last fiscal year, the company is presently seeking to 1) refinance an approximately $11.5 million obligation to its primary lender (the "primary obligation") and 2) borrow additional funds. In addition to the primary obligation, which is due Jan. 31, 1993, the company is obligated to satisfy an existing $700,000 obligation by Sept. 15, 1992. Further, the company has entered into letters of intent regarding the acquisition of additional financing. There can be no assurances that the company will be able to acquire such additional financing, or if acquired that such additional financing will be acquired timely to enable the company to meet its obligations.
 The company is primarily engaged in the sale of used automobiles, vans and light trucks, operating three used car lots located in the Dade and Broward County markets (South Florida). The company also operates a finance company that finances the sale of used vehicles and a vehicle service company.
 SOLAR FINANCIAL SERVICES, INC.
 Condensed Statements of Operations
 Three Months Ended
 May 31, 1992 May 31, 1991
 Revenues $ 6,185,450 $ 2,801,593
 Net income 152,414 23,142
 Profit Per Share $ .05 $ .01
 Weighted Average Number
 of Shares Outstanding 3,411,625 2,907,061
 12 Months Ended
 May 31, 1992 May 31, 1991
 Revenues $18,588,943 $ 9,403,840
 Net Income 966,429 170,942
 Profit Per Share $ .29 $ .06
 Weighted Average Number
 of Shares Outstanding 3,311,756 2,889,709
 -0- 8/18/92
 /CONTACT: David L. Pavsner, 305-835-1168, or Laurance B. Hankin, 305-835-1101, both of Solar Financial Services, Inc./
 (SOFI) CO: Solar Financial Services, Inc. ST: Florida IN: SU: ERN


AW-SS -- FL004 -- 1005 08/18/92 13:49 EDT
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Date:Aug 18, 1992
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