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(NASDAQ: LEND) - publicly traded since 1991

Credit Depot print ads support offices nationwide
RECENT NEWS
CREDIT DEPOT PROMOTES TURNER TO
REGIONAL VICE PRESIDENT - MID-ATLANTIC
November 21, 1997
(GAINESVILLE, GA) - Credit Depot Corporation
recently announced the promotion of Jeff K. Turner to Regional Vice President
- Mid-Atlantic. In this capacity Turner will lead Credit Depot's efforts
throughout Maryland, North Carolina, Tennessee, and Virginia.
Mr. Turner joined Credit Depot in January of 1996 as State Manager of
NC, bringing with him a decade of experience in the mortgage lending industry.
Prior to joining Credit Depot, Turner spent six years with UC Lending, most
recently as Branch Manager-Charolotte, NC.
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PERRY JOINS CREDIT DEPOT CORPORATION
AS REGIONAL VICE PRESIDENT - SOUTHEAST
November 11, 1997
(GAINESVILLE, GA) - Credit Depot Corporation (NASDAQ: LEND) recently
announced that Stephen P. Perry has joined the non-conforming lender as Regional Vice
President - Southeast. In this capacity Perry will lead Credit Depot's efforts throughout
Florida, Georgia, Louisiana, Mississippi, and South Carolina.
Perry brings to Credit Depot more than twenty years of experience in the mortgage lending
industry. Most recently Perry served in a similar management role with Mego Mortgage of
Atlanta, Georgia.
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McRAE JOINS CREDIT DEPOT CORPORATION
AS REGIONAL VICE PRESIDENT - MIDWEST
October 31, 1997
(GAINESVILLE, GA) - Credit Depot Corporation (NASDAQ: LEND)
announced today that John McRae has joined the non-conforming lender as Regional
Vice President - Midwest. In this capacity McRae will lead Credit Depot's efforts
throughout Illinois, Indiana, Kentucky, Michigan, and Ohio.
McRae brings to his new role as Regional Vice President more than nine years of
experience in the mortgage lending industry. Prior to joining Credit Depot, McRae
served in a similar management role for Equicredit Corporation where he was based
out of the Akron, Ohio Operation.
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October 24, 1997
(GAINESVILLE, GA) - Credit Depot (NASDAQ:LEND) recently
announced the promotion of David S. Courier to Senior Vice President -
Field Operations. In this capacity Courier will be responsible for the
continued development and implementation of the Company's business plan.
Mr. Courier joined the non-conforming lender in January of 1996 as Regional
Vice President-Mid-Atlantic, bringing with him more than twenty years of
experience in the mortgage lending industry. Prior to joining Credit Depot,
Courier spent thirteen years at First Union Home Equity, most recently as
Vice President and National Sales Manager.
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August 11, 1997
(GAINESVILLE, GA) - (BUSINESS WIRE) Credit Depot Corporation (NASDAQ symbol: LEND) today announced that it had received $450,000 of proceeds from the issuance of secured promissory notes due October 31, 1997. The secured notes are convertible into shares of common stock at the rate of $0.40 per share any time prior to the time the notes become due and payable. In addition, the lenders were issued warrants to purchase 1,125,000 shares of common stock at an exercise price of $0.40 per share. Credit Depot stated that the proceeds from the notes enabled it to meet its working capital needs, and that the company would require additional short and long-term financing to meet its working capital requirements. Credit Depot is currently engaged in discussions with respect to such further financing.
Credit Depot also announced that it had recently obtained $13,500,000 of warehouse financing which provides it with funds to originate or acquire mortgage loans. This warehouse financing has allowed the company to continue its on-going mortgage lending activities without interruption.\
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CREDIT DEPOT CORPORATION ACQUIRES RESIDENTIAL MORTGAGE BROKER/LENDER;
EXPANDS RETAIL BASE
April 23, 1997
(GAINESVILLE, GA) - Credit Depot Corporation (Nasdaq: LEND) today announced that it has completed the acquisition of privately-held Cash Back Mortgage Company ("Cash Back"), a subprime residential mortgage broker and lender located in Cleveland, Ohio and licensed to operate in several states.
Gerald F. Sullivan Sr., President and Chief Executive Officer, stated: "The acquisition of Cash Back, represents a unique opportunity to execute our strategy to acquire companies that are both synergistic with our core business and will help expand our business base. The operations of Credit Depot and Cash Back are highly complementary. With the addition of Cash Back’s technology-based retail marketing operations, we will be able to leverage the strengths of our combined companies."
Alan Schiff and Alan Solomon, principals of Cash Back Mortgage Company, will continue to manage the company as a wholly owned subsidiary of Credit Depot. Messrs. Schiff and Solomon, stated: "We are pleased to join the Credit Depot team. This acquisition, which combines Credit Depot’s underwriting strengths with Cash Back’s sophisticated retail telemarketing capabilities, will enhance the already superior level of service that our combined companies provide to the mortgage broker community."
Credit Depot Corporation is a multi-state financial services Company that provides residential real estate financing to individuals unable to secure loans through conventional sources. The Company operates in 14 states. These loans are collateralized by mortgages, primarily on owner-occupied residential properties.
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CREDIT DEPOT ANNOUNCES IMPROVED FISCAL 1997 SECOND QUARTER
January 30, 1997
(GAINESVILLE, GA) - (Business Wire) - Credit Depot Corporation today announced financial results for the fiscal 1997
second quarter and six months ended December 31, 1996.
For the fiscal 1997 second quarter ended December 31, 1996, revenues increased sharply to $2,194,418 from $190,168 reported a year ago. An operating profit (income before taxes) of $123,948 was recorded in the fiscal 1997 second quarter compared to an operating loss of $1,371,078 incurred in the same period a year ago. Net income for the quarter was also $123,948, or $(0.00) per share after preferred stock dividends, compared to a net loss of $1,371,078, or $0.44 per share after preferred stock dividends, recorded in the similar period a year ago. For the six months ended December 31, 1996, revenues increased sharply to $3,578,130 from $630,144 recorded in the fiscal 1996 first half. The operating loss narrowed sharply to $150,245 in the fiscal 1997 first half from $2,284,934 in the like period a year ago. The net loss in the fiscal 1997 first half also equaled $150,245 versus the year ago loss of $2,284,934. After preferred stock dividends, the losses were equal to $0.12 and $0.71 in the 1997 and 1996
periods respectively.
Per share results in the 1997 and 1996 second quarter and first half are based on 3,660,861 and 3,378,761, and 3,519,811 and 3,378,761 weighted average shares outstanding in the respective periods. The company made no provision for income taxes as a result of the financial effect of prior years tax loss carry-forwards. The improvement in operating results in the fiscal 1997 second quarter and first half reflects principally an increase in loan originations of approximately 54% from the fiscal 1997 first quarter and 170% from the fiscal 1996 second quarter, as the company began to realize the benefits of its gains on sales of mortgage loans in the 1997 fiscal second quarter sharply increased to $2,018,000 from $4,000 in the comparable period a year ago due to the increased volume of loan sales and increased profit margins on these sales.
Gerald F. Sullivan Sr., President and Chief Executive Officer, stated: "We are pleased by our results for the fiscal 1997 second quarter and first half. The results are a tangible measure of the continuing successful implementation of our operating plan. "In the fiscal 1997 first half, we completed a $9 million convertible debt offering and agreed to provide $125 million of sub-prime first mortgage residential loans for inclusion in the securitizations of a large institution. Both of these events have provided Credit Depot with additional liquidity and operating flexibility to capitalize on the growth opportunities in the sub-prime residential real estate market.
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For more information please call 1-800-770-DEPO.
"SAFE HARBOR" STATEMENT UNDER
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
The statements in this press release regarding matters that are not statements of historical fact, including statements relating to plans, strategies, expectations and future economic results, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Actual results may differ materially from the statements made, as a result of various factors, including risks associated with the company's mortgage loan investments, such as the risks of defaults on mortgage loans, economic and other factors which impact real estate values and prevailing interest rates, the company's ability to originate a sufficient volume of mortgage loans, the company's ability to resell the mortgage loans in the secondary market, and other factors which are listed from time to time in the company's Securities and Exchange Commission filings.

COPYRIGHT 1997 CREDIT DEPOT CORPORATION
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