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STOCKHOLDER FILES SUIT AGAINST SOLAR FINANCIAL AND CERTAIN MEMBERS OF MANAGEMENT AND BOARD

 MIAMI, Nov. 5 /PRNewswire/ -- Solar Financial Services, Inc. ("Solar" or the "company") announced today that the company's president, the company's former chief financial officer and a member of the company's board of directors and its audit committee have been named defendants in litigation filed in the United States District Court for the Southern District of Florida (the "litigation").
 As of Nov. 4, 1993, only Sydney Shampain, a director of the company, has been served with legal process in connection with the litigation. The company said it is not yet required to respond to the litigation. Once served, the company and its officers and directors intend to vigorously defend the litigation. The company and its independent auditors are working diligently towards the completion of the annual audit and the filing of annual and quarterly reports with the SEC.
 In the litigation, the plaintiff, Jeff Levine, who purports to represent a class consisting of holders of the company's common stock as of Sept. 10, 1993 who purchased such common stock during the period Sept. 30, 1992 through Sept. 10, 1993, alleges inadequacies in the company's public disclosures in filings with the SEC, press releases and other public statements, concerning the value of the company's assets, operations and financial condition, particularly concerning collectibility of receivables, adequacy of reserves for losses, and the adequacy of the company's internal controls.
 The complaint filed on behalf of the putative class seeks monetary damages in an unspecified amount, together with interest thereon, and the costs and expenses incurred in the litigation, including legal fees and expert fees.
 Solar continues to engage in its normal business operations, including, among other things, the sales and financing of used automobiles, vans and light trucks, operating auto depots in Dade and Broward counties, Florida and the collection of its finance receivables in the ordinary course of business.
 A copy of Solar's current report on Form 8-K to be dispatched by the company to the Securities and Exchange Commission on Nov. 9, 1993 is incorporated by reference hereby.
 -0- 11/5/93
 /CONTACT: David L. Pavsner of Solar Financial Services, 305-835-1160/


CO: Solar Financial Services, Inc. ST: Florida IN: FIN AUT SU:

AW-PC -- FL010 -- 1312 11/05/93 15:11 EST
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Publication:PR Newswire
Date:Nov 5, 1993
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