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SOLAR FINANCIAL ENTERS INTO JOINT VENTURE

 MIAMI, July 6 /PRNewswire/ -- Solar Financial Services, Inc. (NASDAQ: SOFI) ("Solar") announced today that it has entered into a joint venture with Jimest Corporation, an unaffiliated Florida corporation, the purpose of which is to operate in Davie, Fla., a used motor vehicle dealership, a mechanical repair shop, and a used auto parts and motor vehicle salvage yard under the name Solar Salvage & Auto Parts. Solar has a 51 percent interest in the joint venture. As a result of this joint venture, Solar has transferred to the joint venture's location, for sale on a consignment basis, used vehicle inventory previously located at its used vehicle lot in Hollywood, Fla. and has terminated its operations at the Hollywood lot.
 "This joint venture allows us to complete our vertical and horizontal operation allowing us to maximize profits on our older inventory and insurance repair facility be being able to sell and store auto parts formerly disposed of and at the same time, efficiently service our Broward County customer base," said David L. Pavsner, president and chief executive officer of Solar Financial Services, Inc.
 Solar is engaged in the sales and financing of used automobiles, vans and light trucks, operating auto depots in Dade and Broward County, Fla.
 A copy of Solar's Current Report on Form 8-K filed with the Securities and Exchange Commission on July 6, 1993 is incorporated by reference hereby.
 -0- 7/6/93
 /CONTACT: David L. Pavsner of Solar Financial Services, 305-835-1160/
 (SOFI)


CO: Solar Financial Services, Inc.; Jimest Corporation ST: Florida IN: FIN AUT SU: JVN

AW-RC -- FL006 -- 8560 07/06/93 10:46 EDT
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Publication:PR Newswire
Date:Jul 6, 1993
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