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CPS REPORTS SIGNING OF $25 MILLION SECURITIZATION AGREEMENT; OPTION FOR ADDITIONAL $25 MILLION;

 IRVINE, Calif., April 12 /PRNewswire/-- Consumer Portfolio Services, Inc. (CPS) (NASDAQ: CPSS), announced today that it has completed its first sale of automobile installment sale contracts in securitized form with the signing of an agreement to sell $25 million of receivable- backed securities to a major insurance company over an 11 month period. The agreement includes an option by which the insurance company may acquire up to $25 million in additional securities.
 The investment banking firm of Jefferies & Company, Inc. acted as advisor to CPS in the transaction.
 CPS closed the transaction with an initial sale of $4.9 million of its loans to the insurance company. In March, the same insurance company invested $2 million in CPS in the form of a 5 year convertible note.
 Announcing the agreement, CPS President Charles E. Bradley, Jr., said, "This agreement will provide substantial benefits to both of our organizations, and will enable CPS to continue to grown and expand its business in the automobile finance market.
 CPS purchases, sells and services retail automobile installment sales contracts originated by a network of nonaffiliated dealers who sell both new and used cars. The company's common stock is traded on the NASDAQ Small Cap system under the symbol CPSS.
 -0- 4/12/93
 /CONTACT: Jeffrey P. Fritz, senior vice president, chief financial officer of Consumer Portfolio Services, Inc., 714-753-6816; or Tim Kent or Tom Wick both of The Financial Relations Board, Inc., 818-783-2400, for CPS/
 (CPSS)


CO: Consumer Portfolio Services, Inc. ST: California IN: REA SU: CON

LR-TS -- NY011 -- 4637 04/12/93 09:00 EDT
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Publication:PR Newswire
Date:Apr 12, 1993
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