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JAYHAWK ACCEPTANCE CORPORATION FILES REGISTRATION STATEMENT COVERING PREVIOUSLY ANNOUNCE 2,500,000 SHARE OFFERING

DALLAS, March 8 /PRNewswire/ -- Jayhawk Acceptance Corporation (Nasdaq: JACC) announced today that it has filed a Registration Statement with the Securities and Exchange Commission relating to the previously announced proposed public offering of 2,500,000 shares of its common stock, all of which are being sold by the company. Representatives of the underwriters for the offering are Montgomery Securities and Principal Financial Securities, Inc.

The net proceeds of the Offering will be used to temporarily reduce borrowings under the company's revolving credit facility and as working capital to fund the company's operations. Jayhawk Acceptance Corporation, headquartered in Dallas, Texas, is a specialized financial services company serving automobile dealers in the sub-prime credit market. Jayhawk provides an indirect financing source to buyers of used vehicles with limited access to traditional sources of consumer credit. The company's program helps automobile dealers to increase sales of used cars, reduce financing constraints to automobile buyers with sub-prime credit histories, and eliminate the dealer's burden of receivables management and collection.

A Registration Statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

The offering of the common stock will be made only by means of a prospectus which may be obtained from the representatives of the underwriters or other members of the underwriting group. Written prospectuses may be obtained from Montgomery Securities, 600 Montgomery Street, San Francisco, Calif. 94111, or Principal Financial Securities, Inc., The Fountain Place, 1445 Ross Avenue, Suite 2300, Dallas, Texas 75202.
 -0- 3/8/96


/CONTACT: Virginia L. Cleveland, of Jayhawk Acceptance Corporation, 214-663-1238/

(JACC)

CO: Jayhawk Acceptance Corporation ST: Texas IN: AUT FIN SU: OFR

NT -- NYF058 -- 1779 03/08/96 18:19 EST
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Publication:PR Newswire
Date:Mar 8, 1996
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