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Westar Financial Services Opens Regional Office in Phoenix

25 November 1998

Westar Financial Services Opens Regional Office in Phoenix; Sets Sights On Winning Share of $2 Billion Auto Lease Market

    OLYMPIA, Wash. and PHOENIX, Nov. 25 -- Westar Financial
Services Incorporated (OTC Bulletin Board: WEST) a prime-credit auto lessor,
today announced its new regional office in Phoenix has opened.  The office
will serve New Mexico, Utah, Nevada and southwestern Colorado, as well as
Arizona.  This is Westar's first expansion beyond the Pacific Northwest.
    "We've done a substantial amount of research into the Southwest's
demographics, economy and consumer markets, and are prepared to offer dealers
a very attractive package of lease products for their most credit-qualified
customers," noted Robert W. Christensen, Jr., Chairman and Chief Executive
Officer.  "We are confident the Southwest will be as receptive to our
service-intensive approach as the Pacific Northwest has been.
    "We're very enthusiastic about this opening.  Westar is prepared to spend
approximately $100 million in 1999 on leases acquired through Southwestern
auto dealers, and we'd like to grow from there," he added.
    According to Robert E. Kanatzar, Westar's Senior Vice President - Risk
Management, "Westar's emphasis on creating substantial volumes of prime
credits through its unique combination of risk-based pricing and aggressive
service has served its consumer and dealer audiences well.  With nearly 50% of
the franchised new car dealers in the Pacific Northwest already under contract
with Westar, and nearly 5% of the market in terms of lease originations, it's
time for the company to stretch its legs into other, similar markets.
    "The Southwest Region produces about $2 billion of lease originations each
year.  We'd like to be -- and intend to be -- in the top tier of originators
within a year," Christensen said.
    The office address is 11024 N. 28th Drive, Suite 200, Phoenix, AZ
85029.  The telephone is 602-896-4050.
    Westar Financial Services Incorporated is a fast-growing, innovative,
Washington-based automobile finance company.  It is the only publicly-traded
automobile lease finance company focused solely on the prime-credit segment of
the $110 billion auto-lease finance market.  In the past three months, Westar
has sold approximately $42 million of prime credit automobile lease
receivables, including a $14.4 million package announced in early November and
a $27.5 million package completed in August.  BANK ONE, NA -- a subsidiary of
BankOne Corp. -- purchased both these securitization packages.
Westar's shares are traded over-the-counter by Hoefer & Arnett, San Francisco;
Hill Thompson, Jersey City; and Monroe Securities, Rochester, N.Y.
    Forward-looking statements:  Statements concerning future performance,
developments or events, including the ability to penetrate new markets and
capture market share, secure adequate skilled staffing, gain product
acceptance, or any other guidance on future periods, constitute
forward-looking statements that are subject to a number of risks and
uncertainties which might cause actual results to differ from expectations.