Headlines----

     Capital Stream Processes $9 Million Lease on Line

      More Salesman Pay Survey Responses

        Consumer Reports Survey:

           Most Search Internet for Info/Not to Place Orders On Line

            LeaseExchange: "on a 'Slim Fast' diet."

                Key Equipment Finance Consolidation

                  Pawnee Gets More Money

######### donates a press release from the company

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 Who Says the Internet Process Is Only for Small Ticket Items?

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CapitalStream Enables Burlington Northern Santa Fe to Solicit, Award and

Complete a $9 Million Railcar Lease  

SEATTLE-May 1, 2001-CapitalStream, a provider of web infrastructure for

banks, finance companies and manufacturers, announced today that Burlington

Northern Santa Fe Railway Company (BNSF), one of the largest railroad

networks in North America, recently leased more than 100 boxcars valued at

$9 million using CapitalStream's Bid Management capability.  Bid Management

answers the online financing marketplace's request for a proposal and bid

evaluation system, and enabled BNSF to request bids electronically for the

funding of specialized, auto parts boxcars. With the ability to manage rates

and terms as funding sources made offers for the business, BNSF was able to

analyze bids quickly and complete the deal in significantly less time than

it would have taken via phone-and fax-based lease deal methods.

BNSF had signed a five-year agreement to haul auto parts for a Midwest

manufacturer and needed specialized rail cars to fulfill the agreement. The

company was looking for a lessor who offered competitive lease rates as well

as operational flexibility at the end of the initial contract period.  Using

CapitalStream's infrastructure, BNSF was able to send a request for proposal

to 30 prospective lessors simultaneously, and receive five attractive

proposals in less than two weeks, a rapid response for a deal of this size

and type. 

The deal to fund BNSF's rail cars, which closed on December 21st, 2000, was

awarded to Bombardier Capital Rail Inc., a leading supplier of railcar

leasing and management services in North American markets. Bombardier

Capital Rail is a wholly owned subsidiary of Bombardier Capital Inc., an

international supplier of asset-based financial solutions.

According to Steve Vollmer, General Director of Finance at BNSF, the

railroad benefited not only in terms of dollars but also in finding the

right partner for a specialized deal.  "CapitalStream's product helped us

identify players that we wouldn't have known about previously, while

assisting us in the completion of a high-value deal," he said.  "Bid

Management gave us a sophisticated yet easy to use tool to access the

capital and leasing markets and communicate the type of deal that we were

looking for."

"This transaction demonstrates how CapitalStream's web infrastructure helps

businesses execute deals and cater to specific needs, all with the speed and

efficiency of the Internet," said Stephen Campbell, president and CEO of

CapitalStream.  "This kind of capability is why CapitalStream continues to

be a leader in commercial finance automation.

CapitalStream provides a web infrastructure that automates the commercial

finance industry.  The company's technology merges the efficiencies made

possible by the Internet with the trusting relationships required in

sensitive money-based transactions.  Through a sophisticated profiling

capability, CapitalStream's Bid Management allows companies to conduct

financing, even in a bid environment.  With this profiling feature, each

company involved in the transaction is matched with the other participants'

areas of expertise.  Credit profiles, deal size preferences, asset

preferences and other relationship-related variables that are important in

the equipment financing industry are matched through the CapitalStream

system.  Bid Management is designed to move both efficiency and trust into

the world of complex financing deals.

BNSF initially sought out CapitalStream's capabilities because both

companies have a long-standing relationship with Babcock & Brown, a leading

investment bank that specializes in managing large asset-based and

project-based financings and acquisitions.  Babcock & Brown and

CapitalStream previously worked together to develop advanced online

applications to help customers manage the middle market of equipment and

asset-based financings.

About CapitalStream

Seattle-based CapitalStream strengthens existing business relationships and

streamlines transaction work flow through its flexible web infrastructure for

commercial finance automation.

The company provides finance companies, banks and manufacturers the ability

to manage, distribute and automate commercial lease, loan and credit card

financing programs for their business customers and associates.

CapitalStream, an established industry leader for more than five years with

deep knowledge about the inner workings of the financing world, has helped

hundreds of financial organizations increase their competitiveness, customer

service and profitability.

For additional information about CapitalStream visit its web site at

www.CapitalStream.com.

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       We are still working on the Salesman Pay Survey

  Your contribution will be kept anonymous, unless stated otherwise. 

  Here are three new ones we will add:

   Lessor

#1  

     $50K base

.25% of volume

Cell phone paid for.

I should be making $100,000-

I really enjoy your news letter.

#2 Base Salary $75,000 (not a draw)

10% of the gross profit

Buy rates ranged from 200-300 over T's.

Commissions were to be paid 30 days after the quarter was closed.

Both commissions paradigms were geared for volume to be in excess of $1MM

per month.

            Discount/SuperBroker

#1 

#1 Base Salary $75,000 (draw)

Salary x2 = $150,000

Expenses    $ 30,000

Total       $180,000 / 12 = $15,000 Hurdle per month

50/50 split PV on all deals

Buy rates ranged from 300 to 500 over like T's

Commissions were paid monthly

#2

Here we make no salary, 45% of the gross margin on $1.00 residual deals, and

55% of the GM on the deals that we retain the FMV or 10% residual.  We make

100% of the doc fee over what our sources charge and a draw is available on

a case by case basis.

#3

We pay our sales reps 50% of the GP after inspections, UCC's and routine

office costs.  We also pay for marketing and promotion items, business

cards, brochures, handouts, mailings, etc, etc.

The reps responsibility is to bring in the business and that is it. I do not

require a monthly volume, but do ask that they stay in contact, preferably

in person, with any customer or vendor once a month at least.  I price, doc,

close and fund the deals. All they do is make the contact.

Any deal originated or referred by that salesperson's vendor or customer is

theirs even if they haven't talked with them about the specific deal.

Average annual compensation is usually 50 to 65K, but the opportunity is

unlimited. We are presently looking for reps in northern New Jersey and

western NY and eastern PA.

888-583-0400

Bob Runyon,

Capital Agreements Corporation

capitallease@adelphia.net

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               LeaseExchange

 Despite Reports LeaseExchange Is Struggling, They State It is an Exaggeration

We were www.equipmentleasing.com and changed our name to LeaseExchange

(www.leaseexchange.com) over a year ago when the RedHerring article came

out.  We are not struggling to stay online however we are mean and lean

until we hit profitability.  You might say we are on a "Slim Fast" diet.

The company is still investing heavily in its technology and has changed its

focus to an automated broker and origination engine and less of a

marketplace to service our vendors.

Kind Regards-

Tom Williams

LeaseExchange, CEO

<tom@leaseexchange.com

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  Pawnee Gets More Money

Pawnee Leasing Corporation announces the closing of a 3-year commercial paper

conduit facility with Banc One Capital Markets.  This additional financing

will augment an existing revolving line of credit with Bank One, Colorado N.A.

Sam L. Leeper, President, stated, "This new credit facility, when combined with

existing financing, cash flow, and capital, will provide sufficient funds for

our growth during the next three years.  We believe that adding this facility at a time when the

leasing industry seems to be under close examination, is testimony to the strength of Pawnee and

it's business plan."

Pawnee Leasing Corporation, providing lease financing in the lower 48 states since 1982,

purchases small-ticket start-up and "B" transactions exclusively from its national network of

lease brokers.  For more information please contact Gary H. Souverein, Director of Marketing at

800-864-4266 or by e-mail gary@pawneeleasing.com.

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Lending and Leasing Veteran Bill Compton Joins Transamerica Technology Finance

ROSEMONT, Ill., May 1 /PRNewswire/ -- In order to more responsively serve the increasing customer and market demands throughout North America, Transamerica Technology Finance (TTF) has appointed Bill Compton Director of Syndications in its Farmington, Conn., office.

Compton brings more than 25 years of commercial and venture-lending and leasing experience to TTF, a leader in senior debt financing for emerging- growth companies.  He has worked for MetLife Capital and GECC.  Most recently he served as Vice President of Marketing for FINOVA's Technology Finance division.

In his new role as Director of Syndications, Compton will be developing new business for TTF through parties such as venture loan brokers and other venture lenders throughout North America.  Compton also will be responsible for arranging multi-lender loan facilities agented by TTF.

"We recognize that attracting capital from multiple sources is a challenge for venture-stage company CFOs," Compton said.  "Our syndication services provides a welcome outsourcing solution for venture-stage company CFOs."

Compton resides in Southbury, Conn., and is a graduate of Lafayette College, Easton, Pa.

About Transamerica Technology Finance  

Headquartered in Rosemont, Ill., Transamerica Technology Finance is a leader in combining superior financial resources with unequaled knowledge and experience to provide customized financing solutions to high-growth, venture- backed businesses in the life sciences and technology industries.  TTF offers and arranges equipment and senior term loans, revolving credit facilities and bridge loans, from $1 million to $20 million.  Additional information about TTF can be found at www.transamericafinance.com/ttf.

TTF is a business unit of Transamerica Finance Corporation, whose parent company AEGON N.V., is one of the world's largest listed insurance and related financial services organizations with more than $227 billion in assets.

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KeyCorp Moves Equipment Financing Services Under One Brand Identity

Key Equipment Finance provides equipment financing to a  

wide range of business clients 

CLEVELAND, May 1 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today the alignment of its equipment financing business units under a single name, Key Equipment Finance, a division of Key Corporate Capital Inc. The new name is intended to enhance the company's image as a major equipment financing resource that offers diverse capabilities to a broad array of commercial customers globally.

The new Key Equipment Finance name replaces multiple existing brands such as Leasetec Corporation, KeyCorp Leasing, KeyLease Plus, Key Federal Finance and Key Municipal Finance. The products, services and management of each business unit are not affected by this change. The newly renamed organization features services in several areas of equipment finance: 

*  Appealing directly to businesses that acquire capital equipment, Key  

Equipment Finance offers its commercial equipment financing services to  

midsize to large corporations in the United States and Canada.

*  Working with large corporations that manufacture or sell high-tech and  

capital asset equipment, Key Equipment Finance provides global vendor  

services and customizes financing programs enabling these companies to  

offer leasing as a finance option to their business customers on an  

international scale.

*  Focusing on the needs of small businesses or those businesses that have  

smaller-priced acquisition needs, Key Equipment Finance offers simpler,  

streamlined financing through express leasing services for companies  

across the United States.

*  Key Equipment Finance also has proven expertise in providing equipment  

financing to federal, state and local municipalities as well as other  

public sector organizations. These services include arranging financing  

programs for equipment manufacturers, distributors and value-added  

resellers that market their products to this specialized audience.

"Our equipment leasing capabilities have grown rapidly over the last decade," said Paul A. Larkins, president and chief executive officer of Key Equipment Finance. "As we have entered new markets, we have realized the need to strengthen our identity and overall brand recognition. Doing business under several names has confused both our customers and our peers in the finance industry. By bringing all of our divisions together under the unifying brand identity of Key Equipment Finance, we properly position ourselves as a single, powerful, full-service source of equipment finance services. In doing this, we increase our ability to serve customers globally and generate increased opportunities for cross-selling our equipment leasing products," he added.

Key Equipment Finance, a division of Key Corporate Capital Inc., assumes its new name for its U.S. offices effective May 1, 2001. Changes will take place across its international operations in Canada, Europe and Asia Pacific shortly thereafter.

About Key Equipment Finance  

From its global headquarters in Superior, Colo., Key Equipment Finance oversees a $7 billion equipment portfolio with annual originations exceeding $3 billion. The company, which operates in 25 countries and employs more than 700 people worldwide, also has a national management and operations office in Albany, N.Y. Key has been in the equipment financing business for nearly 30 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at KEFonline.com.

About KeyCorp  

Cleveland-based KeyCorp is one of the nation's largest multiline financial services companies, with assets of approximately $86 billion. Key companies provide investment management, retail and commercial banking, retirement, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company's businesses deliver their products and services through facilities located in 46 states; a network of approximately 2,400 ATMs; telephone banking centers (1.800.KEY2YOU); and a Web site, Key.com(R), that provides account access and financial products 24 hours a day.

SOURCE  KeyCorp   

CO:  KeyCorp; Key Equipment Finance; Key Corporate Capital Inc.; Leasetec Corporation; KeyCorp Leasing; KeyLease Plus; Key Federal Finance; Key Municipal Finance

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Consumer Reports Survey: Less Than a Third of Potential Online Car Buyers Could Complete Their Auto Purchases Online

Car Shoppers Use the Web Primarily to Gather Information, According to The  2001 Auto Buying Survey Conducted by Consumer Reports New Car Price Service 

YONKERS, N.Y., May 1 /PRNewswire/ -- In the second annual Consumer Reports Auto Buying Survey, 64% of a nationally representative sample of recent car buyers and leasers said they would use the web either to make a car purchase or obtain a local dealer referral -- up from 41% in last year's survey.  And although only 1.5% had bought their vehicles online, an additional 3.6% had tried to buy online.

Among web site users surveyed, 70% used the Internet to research prices; 60% researched car specifications; 43% looked up available models; and 42% researched options/trim lines.

"Car buying and the web make a potentially unbeatable combination," says Paige Amidon, Chief Marketing Officer of New Media and Consumer Reports Car Price Services.  "Users are finding a lot of very good information with a few clicks of the mouse.  We think online car buying will continue to increase. But for now, there are problems.  According to our survey, twice as many people tried unsuccessfully to buy online as were able to complete the transaction.  That tells us that web auto merchants haven't put all the pieces together so consumers can comfortably complete a car purchase online."

Other online car-buying trends from the Survey: 

* 27% of respondents said they would consider using the web to buy or  

lease a vehicle and have it delivered; 45% would use the Internet to  

get a referral to a dealer.

* 29% said they would investigate buying and leasing options available  

through the Internet the next time they purchased a vehicle.

* 43% of respondents consulted manufacturer web sites before selecting a  

vehicle, making automaker sites the third most frequently-consulted  

information source (prior experience with make and dealers/auto  

salespeople were the first and second most frequently consulted  

sources of information) -- up from seventh place last year.  30%  

visited other online auto sites.

* Last year, about three out of five respondents said they would not use  

the web either to buy or get a dealer referral.  This year the figure  

was down below half (46%).

* 8% found a dealer from recommendations by auto-related Internet sites.

* Four out of five respondents currently have access to the web.

* The main reasons respondents would not consider using the web to buy a  

vehicle and have it delivered: 

-- 68% prefer to test drive the car.  More than 80% of the respondents  

test-drove the vehicle before selecting it.

-- 67% prefer to establish a relationship with the dealer that they are  

going to use for service.

-- 42% were concerned about online security and privacy of financial  

information.

-- 26% don't think that Internet buying is the way to get the best  

deal.

The second Annual Survey, completed in January 2001, is based on 1,001 responses.  It is conducted on behalf of Consumer Reports Auto Price Services, Consumer Reports magazine, and Special Publications in order to track issues that are important to the car-buying public and to find out how car buyers use the web -- now and in the future.

"It's a lot for a person to spend thousands of dollars on a car they haven't seen, test driven, or kicked the tires," says Amidon.  "We know from past studies that not all dealers contacted online get back to the customer in a timely fashion -- or at all.  And at some dealer-referral sites, they don't have the exact model or they have the model but it's not equipped with the right specifications.

"And online shoppers can't always find the lowest price through the web," Amidon notes.  "To negotiate the best deal, you need to know the actual dealer cost, including current national rebates as well as the behind-the-scenes financial incentives that manufacturers give to dealers to increase sales of particular models.  And then there are dealer holdbacks, the reimbursements from manufacturers to dealers that typically amount to about two to three percent of a car's invoice price.  We know that the median price for a new car is $25,500, according to our Survey.  You have to shop around to get the best deal -- and you may not find it on the web."

Visit http://www.ConsumerReports.org, click on the New Car Price Service link, and you'll find information on Consumer Reports Wholesale Price with actual figures that show the greatest potential savings for some popular vehicles.  Using Consumer Reports Wholesale Price, car buyers have saved, on average, $2,200.  In addition, Consumer Reports New Car Price Service tool kit provides buying and leasing advice, expert recommendations on options and equipment for a car, a list of recommended alternate models, and Consumer Reports' unparalleled performance and reliability data.

To order a price report for a specific model by fax or mail from the Consumer Reports New Car Price Service, call -- toll free -- 800-395-4400, or order and view your reports at http://www.ConsumerReports.org.  Reports for currently sold automobiles cost $12 for one vehicle and $10 for each additional vehicle requested.

Consumer Reports(R) is published by Consumers Union, an independent, nonprofit testing and information-gathering organization, serving only the consumer.  We are a comprehensive source of unbiased advice about products and services, personal finance, health, nutrition, and other consumer concerns. Since 1936, our mission has been to test products, inform the public, and protect consumers.

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