January 23, 2001



Advanta Closes Its Door to New Business

February Association Meetings

CapitalStream Names Walter Demaree New Senior Vice President

CIT Commercial Backs Comfin.com/Enters Internet Fray

Yodlee raises $52 million for online account venture

Confirmation: Union Bank Severly Cuts Down Leasing

Textron Up 14% even after Writing of Internet Losses



The List: Now in Chronological Order



Advanta Officially Ceases New Leasing Business


"The quarter's results were impacted by an Advanta Leasing loss of $7.9 million for the quarter. After a thorough review of strategic alternatives available to its Leasing business, the Company has decided that it is in the best interests of its shareholders to cease originating leases.

The Company will continue to service the existing portfolio rather than sell the business or the portfolio. In connection with this decision, the Company recorded a $4.3 million charge to

write-down certain Leasing business assets, which are included in the quarter's results. Despite the loss, during the fourth quarter Advanta Leasing significantly improved the asset quality of

its portfolio. Charge-offs for the quarter were 3.91% as compared to 6.28% during the third

quarter of 2000. Over 30 day delinquencies declined to 6.85% from 7.87% at September 30, 2000,

and are at the lowest level since June 30, 1998."


( full press release with financial report at end of report )




The List is now divided into Chronological order and Alpahabetical order


(Please note there are still nine dates that we have not been able to determine for nine changes We are still working on this. Any other changes, please let us know. editor)


Also on line at: http://www.leasingnews.org/list.htm


The List




Advanta Leasing (1/2001 Advanta ceases leasing business announcement 1/2001 Chris     Ciarrocchisays "goodbye" Mortgage Division sold, re-affirms Leasing Division still for sale     9/2000 for sale, former prez now at eOriginals,others let go like Kaye Lee.)

Union Bank, San Francisco ( 1/2001 Leasing curtailment/cutback 1/2001 Union Bank, Los

    Angeles, no more lease purchasing, not confirmed about S.F. yet ).

El Camino Leasing, Woodland Hills, California (1/2001) ( 1/2001 reportedly winding down, sold     portfolio, selling partner relationships, selling off all assets (10/2000 No longer taking

    broker business 11/2000 struggling to stay in leasing business, according to insider

    reports )

Saddleback Financial ( 1/2001 Prez. Warren Emard in business, looking for new business     frombrokers. )

First Commercial Capital Corp ( 1/2001 to be acquired by TCF Leasing )

First International Bancorp ( 1/2001 ) to be acquired by UPS Capital First State Bancorp,

Albuquerque, N.M ( 3/2000 sold leasing division-$64 million---)

Union Bank, Los Angeles ( 1/2001 ) Out of broker-discounting leasing business.

LeaseExchange.com ( 1/2001 Closes Irving office, cuts staff )

BSB Leasing ( 1/2001 Don Meyerson bought back the company and they are back in business     at303-329-09227. Official announcement to be made soon. They are notifying brokers to     start sending them business again. 12/2000 Don Meyerson says to be "re-born"11/2000     closed toaccepting new business.)

SierraCities (1/2001 VerticalNet Merger falls apart 1/16/01 Sells Off UK Assets, 7/2000     2ndquarter loss, see report )

Preferred Capital (01/2000 Mark Seif confirms 12/2000 On the block. David Murray left     11/7"didn't like letting his friends go." )

Affinity Leasing, Washington ( 12/2000 to close and concentrate on Financial Pacific biz ) Banc One Leasing ( 12/2000 Lays Off 60, Closes 5 offices )

Bayview Capital ( 12/2000 announces $17 million loss/later does not issue dividend )

Bombadier ( 12/2000 reported having leasing problems, not confirmed, company strong in     other divisions, but appears backing out of leasing division )

Capital Associates, Denver, Colorado ( no longer doing business, filing bk? )

Conseco Finance Vendor Service ( 12/2000 purchased by Wells Fargo Leasing).

DVI Capital (12/2000 out of broker )

Finova ( 1/2001 laid off 90 employees, or about 9 percent of its workforce, in an ongoing     effortto cut costs. The company continues to employ about 300 people in Phoenix and     940 nationwide. (12/2000) out of market place, many problems, raises $250 MM, but not     enough ) ( 10/2000 Dow Jones headlines "Finova Stock Falls As Buyout Hopes Wane     10/2000 Dow Jones notes stock falling and problems at Finova 11/2000 Announces they will     discontinue business,sell units 11/2000 Suspends Dividend 11/2000 Leucadia National to Invest $350 Million in 11/2000 reports $274 million loss

United Capital, Austin Texas ( 1/2001 employees let go, portion of portfolio sold,     discounters not paid, vendors not paid, it is alleged.1/2001, selling off portfolio, problems     ahead with vendors not paid, brokers not paid, sinking in quicksand 12/2000 no new deals     until after the 1st of year, Steve Dallas trying to hold it together. Dallas says, " We will     survive."

Finantra (11/2000 will eliminate its commercial finance operations in order to focus on its     twocore finance platforms, consumer finance and services and consumer mortgage     lending. )

Metwest Leasing, Spokane Wa. (11/2000 is pulling the plug, confirmed by five sources.     9/2000advising brokers that they have run out of funds so they are unable to fund a     transaction we have there for funding.)

Newcourt ( 8/2000 sold off ) Old Kent Financial ,GrandRapids, Michigan ( 11/2000 Fifth Third     Bank, Cincinnati, Ohio announces acquirement, to close second quarter 2001-Gateway     Leasingsold to Old Kent in 1997, small ticket leasing specialists )

Orix 11/10 First Six Month Profits up 14% at Orix! ) 11/8 New President at Orix appointed     11/10 First Six Month Profits up 14% at Orix! No negative reports, company appears to be     doing very well. 10/2000 "long-term Outlook has been revised from Stable to Negative"     Credit Allianchatit has changed its name to ORIX Financial Services, 9/2000 Japanese Bank     President Commits Suicide (Orix is a 14.7% shareholder in bank having problems ), ( 8/2000     closes small ticket vendor division in Portland, Oregon, "Business as usual (in New Jersey     and with brokers),"says Steve Geller)

Resource Leasing, Herndon, Virginia ( 11/2000 MicroFinancial/Leasecomm acquires major     portion of the assets.)

Signature Leasing, Dublin, California ( 11/2000 no longer in small ticket marketplace; appears     to have closed down ).

Transamerica ( 11/2000 for sale, but no buyers, so taken off marketplace, no longer for sale )

Varilease ( 11/2000 closed down )

Copelco (10/2000 ceases broker business, many complaints in manner turning off faucet     5/2000 sold to Citibank/10/2000 stock down rated/ )

Linc Capital ( out of vendor and broker business, Nasdaq halts stock sales, $13.4 loss last
quarter,10/2000 assets for sale )

Matsco Financial (10/2000 purchased by Greater Bay Bank )

T&W, Washington (10/2000 filed Chapter 11. Creditors meeting on 12-4-00 Seattle. Case #     00-10868 US Bankruptcy Court Western District of Wash. 206-553-7545. Debtor
    Attorney-Marc Barreca 206-623-7580)

Balboa Capital ( 9/2000 Founder Pat Byrne "...office available any time he wants to use     it"Reported he is no longer "in control" or working "full time" at Balboa, the company he


Liberty Leasing, Des Moines, Iowa ( 10/2000 closed, selling portfolio, owned by Commercial     Federal Bank, Omaha, Nebraska )

Bay View Commercial Corporation (Bay View Bank) 9/2000 discontinuing all franchise loan and     lease production

Charter Financial ( purchased by Wells Fargo 9/5/2000 )

Manifest Group--( 9/1/2000 purchased by US Bancorp Leasing and Financial, "...a win for all     the parties involved," Brian Bjella.

Onset Capital ( 9/2000 Irwin buys 87% equity )

Republic Leasing, South Carolina 9/27/2000 ( "The expected result will be a sale of Republic     Leasing"---Dwight Galloway. He adds,"We have always been for sale for the right price, but     inthirteen years we have not sold off any leases or gone direct after broker's business,     ever." SFC Capital ( 9/15/2000 purchased by Trinity Capital )

Dana ( 7/2000 sold off portfolio, active as captive lessor )

Lease Acceptance Corp---( ceases broker business 7/26/2000 )

eLease ( June/July/2000 senior management changes )

New England Capital ( 6/2000 sold to Network Capital Alliance a division of Sovereign Bank.     Sovereign did hire two people who will run a sales office in CT, doing basically the same     deals with the same people as before. Little will change in that aspect.

Prime Capital, Chicago ( 6/2000 closed )

Scripp Financial ( 6/29/2000 ( purchased by US Bancorp )

Metrolease--( 5/2000 reports closing operation, John Blazek at Evergreen Leasing, Hathcock     losing assets, will not confirm nor deny; many serious rumors of serious fraud floating     around the marketplace, including debt to Textron Financial, reported to file bk.)

Phoenix ( 5/2000 both divisions closed )

FMA Financial, California ( 4/2000 reportedly closed to brokers )

Fidelity ( 4/2000 acquired by EAB, a wholly owned subsidiary of ABN AMRO Bank N.V.,

    headquartered in the Netherlands, raising funds )

Comstock Leasing ( 3/2000 Unicapital then Linc and discontinued operation this date ).

NIA National Leasing ( 3/2000 purchased by Lakeland Bancorp )

Franklin Leasing, Des Moines, Iowa--owned by Liberty Bank-- (2/2000)-no longer writing     leases ( limited by regulations and leases are for sale ).

Commerce Security ( 9/99 closed to leasing broker program )(11/99 last fundings/ 12/2000

Leasing News gives credit to Ron Wagner as the first to see the quality and margins of     leasingchanging, decides to avoid what was to happen in the year 2000 ).

Franchise Mortgage Acceptance Corporation (FMAC) 11/1999 purchased

Heller Financial's Commercial Services Unit ( 10/99 purchased by CIT )

Lyon Credit Corporation ( 9/99 purchased by Hudson United Bancorp )

Japan Leasing Credit claims ( JLC --6/99 purchased by Orix )

Liberty Leasing ( 6/1999 closed, California company )

Golden Gate Funding ( 2/99 purchased by Westover Financial )

NationsCredit, Business Leasing Group (1/29/99 sold to Textron** 1/2001 complaints from

    brokers regarding getting information for NationsCredit and GrayRock Capital on FMV,     payoffs,residuals from Textron who is servicing the portfolio ) *** Textron does "broker     business."

Colonial Pacific (11/98) purchased by GE Capital 5/2000 no more re-brokered applications,

    except from one or two sources, such as Steve Dunham's Leasing Associates )

American Business Leasing ( gone )

The Bancorp Group, Inc. (Southfield, MI) (Not accepting news business. The BOD of the     parent bank is assessing what to do with the leasing subsidiary.....currently servicing     portfolio but not originating. no longer in business )

Bankvest (bankrupt) .

Imperial Credit Industries (ICII) ( sold portfolio )

Leasing Solutions , San Jose ( bankrupt )

Merit Leasing ( gone )

Prime Leasing, Minnesota ( no longer doing business )

Rockford ( sold to American Express )

USA Capital Leasing ( gone-bk )


***Original Purchases by Date by Unicapital


American Capital Resources 2/98

Boulder Capital Group 2/98

Cauff, Lippman Aviation 2/98

Jacom Computer Services 2/98

Matrix Funding 2/98

Merrimac Financial Associates 2/98

MunicipalCapital Markets Group 2/98

The NSJ Group 2/98

PortfolioFinancial Servicing 2/98 --acquires assets of Unicapital

Vanlease 2/98

The Walden Group 2/98

K.L.C., Inc. dba Keystone Leasing 5/98

Jumbo Jet 7/98

HLC Financial 7/98

Saddleback Financial Corporation 7/98 ---back in business U.S.

Turbine Engine Corp. 7/98

The Myerson Companies dba BSB Leasing 9/98 --- back in business under original owner now: Don






Mid-America Leasing Association of Equipment Lessors


There are approximately 135 members and counting... :)



Alison J. Huhn

Executive Assistant

Facility Capital

333 West Wacker Drive

Suite 1750

Chicago, IL 60606



312.541.6000 phone

312.541.1275 fax


( we will up-date this membership information now on line at:



United Association of Equiment Leasing

January,26, 2001

Funding Retreat

Hilton Hotel Costa Mesa (formerly Doubletree Hotel)

3050 Bristol St.

Costa Mesa, CA. 90626




Equipment Leaisng Association

February 4-6, 2001

Equipment Management

Conference and Exhibition

Westin LaPaloma

Tuscon, Arizona


Program available at:



for complete list of meeting:



EAEL/NAELB February 5th Joint Meeting


One Day, all Business Broker/Funding Meeting, Atlanta Marriott Hotel

February 5th ( actually there is a get acquainted evening available on February 4th ).

To learn more:


This is a joint meeting of the Eastern Association of Equipment Leasing and the National

Association of Equipment Brokers.

You can also get the registration form on line.




United Association of Equipment Leasing

2/9, 2001

Funding Retreat

Sheraton Dallas Brookhollow

1241 W. Mockingbird Lane

Dallas, Tx. 75247


for further information, go to: http://www.uael.org/events/retreats/

United Assoication of Equipment Leasing

2/23, 2001

Funding Retreat

Washington Athletic Club

1325 Sixth Ave

Seattle, Wa. 98111



for further information, go to: http://www.uael.org/events/retreats/



If anyone can give us a "report" or "synopsis" or "reaction" to the UAEL

Friday, January 19 Funding Retreat at the Sheradon Biscayne Bay Hotel,

Miami, Florida, many of us may be interested in the attendance, mood,

and any news from attendees. editor.



CapitalStream Names Walter Demaree New Senior Vice President


Demaree promotion brings additional experience to sales department.


Seattle - January 23, 2001 - CapitalStream, a provider of hosted e-commerce

solutions for the commercial finance industry, today announced the

appointment of Walter Demaree to the position of senior vice president of

sales. Demaree brings more than 20 years of expertise in the commercial

finance industry, specializing in sales and marketing. Most recently, he

served as the senior vice president and group manager of financial

institutions for CapitalStream since joining the company last June.


Demaree joined CapitalStream from Babcock & Brown, a leading investment bank

specializing in asset-based financing, where he was Managing Director and


His extensive career has included senior management positions for several

companies prominent in the finance industry such as, MetLife Capital

Corporations and BankAmeriLease.


"CapitalStream's significant growth over the last six months, in the small

and mid-ticket arena, has dictated a sales strategy that also includes

Fortune 500 finance companies." Said Steve Campbell, President and CEO,

"Walt is ideally suited to lead our current sales focus and forge our future



Demaree holds a B.S. degree in Finance from the University of Santa Clara

and an MBA from the University of California at Berkley. He and his family

reside in Kirkland, Washington.



About CapitalStream


Seattle-based CapitalStream provides hosted e-commerce solutions for

commercial financing, a $4 trillion global industry. The company provides

infrastructure and tools that enable finance companies and manufacturers to

create branded financing sites, tailor finance programs, build credit

work flow, retrieve credit scores and content, and offer financing at the

point of sale. CapitalStream, an established industry leader for more than

five years with deep knowledge about the inner workings of the financing

world, has helped several hundreds of financial organizations increase their

competitiveness, customer service and profitability.




CIT Partners With Commfin


CIT Commercial Services, a division of CIT, announced an agreement with Commfin, an internet portal that provides online trade finance solutions for business-to-business exchange participants. Internet exchange participants will receive access to accounts receivable discounting, factoring services and, in the near future, inventory financing via Commfin's Web site (www.commfin.com). The agreement reinforces CIT's commitment to embracing the Internet as an alternative distribution network and will further enhance the breadth of lending services available via the Commfin site. CIT Commercial Services is a unit of Commercial Finance, an operating group of CIT.

"We are pleased to align with Commfin, one of the web's premier B2B financing portals," said John F. Daly, president of CIT Commercial Services. "By partnering with Commfin, we are able to reach the growing universe of borrowers who are using the power of the Web as a tool in their search for commercial financing."

Commenting on the partnership, Commfin's acting CEO Alan Kestenbaum said, "We are delighted to have CIT Commercial Services join our prestigious list of lenders. CIT is an internationally-known and well-respected asset-based lender that brings to our partnership many years of experience and an excellent reputation within the industry."

Commfin's Internet trade finance portal provides net market participants with access to a consortium of financial providers with specific product expertise, such as Brown Brothers Harriman & Co and Societe Generale. Commfin enables buyers and sellers to receive financing without ever leaving the B2B exchange. Commfin is also the provider of financial solutions to Aluminium.com, a B2B net marketplace for the non-ferrous metals industry.


Yodlee raises $52 mln for online account venture


SAN FRANCISCO, (Reuters) - A group of corporate investors including AOL Time Warner Inc. and E-Trade Group Inc. Wednesday raised about $52 million for Yodlee, a company that provides services to financial institutions and Web portals that allow users to aggregate online accounts.

Wednesday's financing round, joined by Merrill Lynch and Co. Inc. , Chase Manhattan Bank, Morgan Stanley Dean Witter & Co. , Internet software vendor Inktomi and the strategic private equity division of Intel Corp. , brings the total raised by Redwood Shores, Calif.-based Yodlee to almost $70 million.

The funding also helps position privately-held Yodlee for an initial public offering in the second half of 2001 if the market turns around, Yodlee President and Chief Executive Anil Arora told Reuters.

"We expect to be both cash-positive and profitable in this calendar year," said Arora.

Yodlee also announced Wednesday that it will acquire VerticalOne Corp., a subsidiary of S1 Corp. . Under the deal, S1, which facilitates online financial services, will take a 32 percent stake in Yodlee.

According to Arora, the S1 deal will help both companies better develop next-generation Internet applications. Meanwhile, Wednesday's $52 million cash infusion will also help Yodlee expand in Europe and Japan, he said.

"We plan to be global into non-English-speaking countries," Arora said.

The funding round also will be used to boost Yodlee's wireless applications, an increasingly important focus for financial institutions partnering with the 2-year-old company, Arora said.

"We're obviously going to ramp up our wireless efforts," Arora said. "Our service, aggregation, is even more compelling on wireless because of information you need on the go."

Yodlee counts Charles Schwab Corp. , the largest U.S. discount brokerage, and Fidelity Investments, the largest U.S. mutual fund family, among its 60 corporate partners.


Advanta Reports Fourth Quarter Business Cards Income Up 64% Over Prior Year; Sale of Mortgage

Business Proceeding



( BW)(CA-UNIONBANCAL)(UB) UnionBanCal Corporation Reports Net Income of $440 Million for 2000


Business Editors


SAN FRANCISCO--(BUSINESS WIRE)--Jan. 22, 2001--UnionBanCal Corporation (NYSE: UB) today reported fourth quarter 2000 net income of $8.4 million, or $0.05 per diluted common share, consistent with the Company's public guidance in December. Earnings were depressed by a provision for credit losses of $250 million. In the fourth quarter of 1999, the Company earned $136.9 million, or $0.83 per diluted common share, including a provision for credit losses of $30 million.

For full year 2000, net income was $439.9 million, or $2.72 per diluted common share, compared to $441.7 million, or $2.64 per diluted common share, in 1999. For full year 2000, operating earnings were $411.1 million, or $2.54 per diluted common share, compared to $486.2 million, or $2.91 per diluted common share, in 1999. The provision for credit losses was $440 million in 2000 and $65 million in 1999.

On an operating earnings basis, full year 2000 returns on average common equity and average assets were 13.09 percent and 1.22 percent, respectively, compared with 16.54 percent and 1.51 percent, respectively, for full year 1999.

"While net income was depressed due to a large increase in credit costs, much progress was made during 2000 to reposition the Company for growth in 2001 and beyond," said Takahiro Moriguchi, President and Chief Executive Officer. "Our most important achievement was the successful implementation of Mission Excel, which has resulted in a much leaner organization, as reflected in an extraordinary improvement in our efficiency ratio during 2000. At 52 percent, the Company's efficiency ratio now ranks in the upper tier of the industry. In 2000, we generated revenue growth of 10.7 percent over the prior year, while simultaneously reducing non interest expense by 2.9 percent.

"While we currently face a great deal of economic uncertainty, we are well-positioned for improved results in 2001. Our lending, depository and trust businesses are strong competitors in attractive markets - in California, regionally and nationally. Assuming satisfactory economic conditions in our key markets, we anticipate solid revenue growth, declining credit costs, and a healthy increase in operating earnings this year.

"We also enter 2001 with strong capital levels and healthy core earnings power. We have the financial strength to pursue our growth and investment plans and we are dedicated to restoring investor confidence and creating significant shareholder value going forward."


Total Revenue


Total revenue (taxable-equivalent net interest income plus non interest income) in fourth quarter 2000 was $552.4 million, an increase of $28.6 million, or 5.5 percent, over fourth quarter 1999. Net interest income increased 8.0 percent, while non interest income decreased 0.7 percent, due primarily to higher auto lease residual write downs. Compared to third quarter 2000, total revenue decreased 3.7 percent. Net interest income decreased 1.3 percent, while non interest income decreased 9.3 percent, due primarily to higher auto lease residual writedowns and lower merchant banking fees.

For full year 2000, total revenue was $2.2 billion, 11.4 percent higher than in the prior year. Net interest income increased 11.8 percent and non interest income increased 10.3 percent.


Net Interest Income


Net interest income was $399.3 million in fourth quarter 2000, an 8.0 percent increase from the same quarter a year ago. This increase was attributable to a 3.9 percent increase in average earning assets and a 22 basis point improvement in the net interest margin, to 5.18 percent. A higher rate environment and core deposit growth of 4.8 percent contributed to the strong improvement in the margin.

On a sequential quarter basis, net interest income decreased $5.3 million, or 1.3 percent. The decrease in net interest income was primarily attributable to higher non accrual loan balances, which also contributed to a 12 basis point decline in the net interest margin.

Net interest income was $1.6 billion for full year 2000, 11.8 percent higher than full year 1999. The increase in net interest income was primarily attributable to a 5.1 percent increase in average loan balances and a 33 basis point increase in the net interest margin. The higher rate environment and core deposit growth of 4.8 percent contributed to the strong margin performance.


Noninterest Income


In fourth quarter 2000, non interest income was $153.2 million, down 0.7 percent from the same quarter a year ago. Service charges on deposit accounts increased $11.6 million, or 25.8 percent, on higher volumes and prices. Other non interest income decreased $8.6 million, or 60.6 percent, primarily due to a $12.3 million increase in auto lease residual write downs. Excluding the impact of higher auto lease residual write downs, and a divestiture gain in fourth quarter 1999, total non interest income rose 11.3 percent.

Noninterest income decreased $15.8 million, or 9.3 percent, in fourth quarter 2000, compared with the preceding quarter. Service charges on deposit accounts increased $2.5 million, or 4.6 percent, due to growth in deposit balances. Trust and investment management fees decreased $1.8 million, or 4.4 percent, due to declining equity markets and reduced trading volumes. Merchant banking fees were down $7.0 million, or 45.9 percent, due to fewer closed syndications. Other non interest income decreased $5.1 million, or 48.0 percent, primarily due to a $16.0 million increase in auto lease residual write downs.

For full year 2000, non interest income was $647.2 million, up $60.4 million, or 10.3 percent, over full year 1999. Service charges on deposit accounts increased $37.6 million, or 21.7 percent, on higher volumes and prices. Trust and investment management fees increased $13.5 million, or 9.6 percent, primarily due to an increase in assets under management. Other non interest income decreased $17.0 million, or 27.8 percent, primarily due to a $23.5 million increase in auto lease residual write downs. Excluding the impact of higher auto lease residual write downs, total non interest income grew 13.9 percent.


Noninterest Expense


Noninterest expense for fourth quarter 2000 was $300.5 million, an increase of $9.2 million, or 3.1 percent, from fourth quarter 1999. Salaries and benefits expense declined 3.2 percent, primarily due to lower employee count and lower incentive expense. Other non interest expense increased $12.7 million, or 28.1 percent, primarily due to an increase in marketing and business development costs.

On a sequential quarter basis, non interest expense increased 3.1 percent. Salaries and benefits expense increased 2.5 percent due to higher employee benefits expense.

For full year 2000, non interest expense on an operating earnings basis decreased $34.7 million, or 2.9 percent, as compared to full year 1999. Salaries and other compensation expense declined $21.6 million, or 4.0 percent, primarily due to lower employee count and lower incentive expense. Employee benefits expense declined $26.1 million, or 21.4 percent, primarily due to lower retirement expense.


Income Taxes


Income tax benefit in fourth quarter 2000 was $7.1 million, primarily due to the impact of low income housing tax credits. For full year 2000, the effective income tax rate was 33.5 percent, compared with 32.6 percent for full year 1999.


Credit Quality


Nonperforming assets at December 31, 2000, were $408 million, compared with $300 million at September 30, 2000, and $170 million at December 31, 1999. The increase in non performing assets during fourth quarter 2000 was primarily due to additional deterioration in the syndicated loan portfolio. Nonperforming assets were 1.16 percent of total assets at December 31, 2000, up from 0.89 percent at September 30, 2000, and up from 0.50 percent at December 31, 1999.

Net loans charged off in fourth quarter 2000 were $162 million. This compares with $55 million in third quarter 2000 and $17 million in fourth quarter 1999. The elevated level of charge-offs in the fourth quarter was the result of a detailed analysis of non performing loans, to reflect estimated loss content or secondary market pricing.

The provision for credit losses in fourth quarter 2000 was $250 million, compared with $80 million in third quarter 2000 and $30 million in fourth quarter 1999. The provision for credit losses was determined based upon management's ongoing assessment of the adequacy of the allowance for credit losses, which considers the composition of and growth in the loan portfolio, the level of non performing loans and charged-off loans, and general and specific economic and business conditions.

For full year 2000, net loans charged off were $296.1 million and the provision for credit losses was $440.0 million.

"At $162 million, our fourth quarter net charge-offs were in line with the guidance provided in our December 14, 2000, press release," said Philip Flynn, Executive Vice President and Chief Credit Officer. "Year end non performing asset balances of $408 million were also in line with our guidance. These results principally reflect the continued credit deterioration in our portfolio as a result of weakening business conditions in the markets served by some of our customers, as well as the completion of a detailed and comprehensive review to identify and account for credit impairment currently existing in our commercial loan portfolio.

"As previously reported," continued Mr. Flynn, "we have sharply scaled back lending in areas outside of our core competencies and have taken other actions to curb credit losses and improve the performance of our loan portfolio going forward. While it will take some additional time to work through the problems in the portfolio, we are confident that credit costs will be lower in 2001."


Balance Sheet and Capital Ratios


At December 31, 2000, the Company had total assets of $35.2 billion and total deposits of $27.3 billion. Total shareholders' equity was $3.2 billion and the tangible equity ratio was 9.01 percent. Book value per share was $20.17, up 11 percent from the prior year end.

The Company's Tier I and total risk based capital ratios at December 31, 2000, were 10.24 percent and 12.07 percent, respectively. These capital ratios are well in excess of the "well-capitalized" thresholds of 6 percent and 10 percent, respectively, designated by bank regulatory authorities.


Share Repurchase Program


During fourth quarter 2000, a total of 891,600 shares of common stock were purchased at an average price of $21.76 per share. During full year 2000, 5.2 million shares were purchased at an average price of $25.17 per share. Common shares outstanding at December 31, 2000, were 159.2 million, a decrease of 5.0 million shares, or 3.1 percent, from the prior year end.


2001 Outlook


For 2001, management currently expects operating earnings to increase more than 25 percent from the $2.54 per diluted common share earned in 2000. This incorporates management's expectation that the provision for credit losses will be $250 million to $300 million for the year, down from $440 million in 2000. The current forecast for 2001 assumes some additional weakening of the economy, particularly in the first half of the year, but satisfactory economic conditions overall. The current forecast assumes no material adverse effect on the Company's 2001 earnings as a result of the current energy crisis in California. Such impact, if any, cannot be quantified at this time. If actual business conditions differ appreciably from current assumptions, management's expectations for provision expense and earnings per share could be affected.

For first quarter 2001, management currently expects earnings per diluted common share of approximately $0.60, which assumes a provision for credit losses of approximately $100 million.


Community Banking and Investment Services Group - 2001 Outlook


The Community Banking and Investment Services Group ("CBISG") offers a broad range of banking products, primarily to individuals and small businesses, delivered through a network of branches and ATMs. Products include commercial loans, mortgages, home equity lines of credit, consumer loans, deposit and cash management services, fiduciary services, private banking, investment services and asset management.

During 2000, CBISG generated strong growth in profit contribution, through a combination of non interest income growth and expense reduction.

"All market segments in the Community Banking and Investment Services Group contributed to our strong core earnings performance and I have every expectation of continued strong performance in 2001," said Richard Hartnack, Vice Chairman of CBISG.

In 2001, CBISG will emphasize growth in the consumer asset portfolio, expanding wealth management services, extending the small business franchise and expanding the branch network. The strategy for growing the consumer asset portfolio will primarily focus on mortgage and home equity products, originated through the branch network, as well as indirectly. The wealth management division is focused on becoming the preferred provider of banking and investment products for affluent individuals in geographic areas already served by the Bank. This will be achieved through a combination of superior service, a broad product suite, an increased number of banking locations convenient to the targeted clientele and improved cross-selling programs. In January 2001, the Company expects to complete the acquisition of Copper Mountain Trust Company, which will enhance the growing custody and 401(kg) administration businesses. Core elements of the initiative to extend the Bank's small business franchise include enhancing the sales force, increasing marketing activities, introducing new insurance and trade finance products, adding new locations, and developing online capabilities to complement physical distribution. Expansion of the distribution network will be achieved through acquisitions and de novo branching. Expansion opportunities exist in both Southern California, where the Company has a particularly strong presence, and Northern California.

"Our plans to increase presence and sales effectiveness in our core markets will contribute to strong operating earnings growth for the Bank in 2001," concluded Mr. Hartnack.


Commercial Financial Services Group - 2001 Outlook


The Commercial Financial Services Group ("CFSG") provides tailored credit and cash management services to large and mid-sized corporations. Products include commercial loans, asset based loans, commercial real estate loans, construction loans, leases, and a comprehensive array of deposit and cash management services.

"We are particularly proud of our performance in the wholesale deposit markets in 2000, where a recent study by Ernst & Young shows Union Bank of California favorably ranked within our peer group in cash management revenues and in the top 10 in the industry in several cash management products," said Robert Walker, Vice Chairman of CFSG.

CFSG initiatives for 2001 include expanding capital markets activities, increasing domestic trade financing and expanding the item processing business. Loan growth strategies for CFSG include originating, underwriting and syndicating loans in core competency markets, such as the California middle market, commercial real estate, communications, media, energy, equipment leasing and commercial finance. In expanding capital markets activities, CFSG aims to broaden the range of services offered to business customers seeking bundled financial services. Some services that CFSG intends to begin offering in this arena include debt underwriting and private placements. CFSG operates a strong processing business, including services such as check processing, front-end item processing, cash vault services and digital imaging. Opportunities for outpourings these capabilities to correspondent banks, e-banks and credit unions are significant. In the processing business, CFSG intends to build new capabilities, in addition to leveraging existing capabilities. Some new initiatives underway include cash management products with internet delivery, check truncation at point-of-sale, digital certificates and e-bill payment and presentment.

"The combination of expanded products and an emphasis on core competencies will contribute to the strong growth in operating earnings expected for the Bank in 2001," concluded Mr. Walker.


Textron Reports EPS Growth of 14% for the Fourth Quarter and 15% for Full-Year 2000 Before

Special Charges



Providence, RI - January 23, 2001


Textron Inc. (NYSE: TXT) today reported fourth-quarter earnings per share from continuing operations before special charges of $1.28, up 14% from $1.12 in the prior year. Income from continuing operations before special charges was $185 million versus $170 million reported in 1999.


For the year, earnings per share from continuing operations before special charges rose 15% to $4.65 per share from $4.05 in 1999. Income from continuing operations before special charges was $680 million versus $623 million reported in 1999.


The special charges are composed of $366 million in charges related to a previously announced restructuring program and $117 million in write-downs of e-business investments. After the effect of these charges, the company reported a net loss of $218 million for the fourth quarter and net income of $218 million for the full year.


Textron Chairman and Chief Executive Officer Lewis B. Campbell said, "During the quarter, we met our earnings objectives, overcoming the negative impact of a rapid decline in automotive production and general weakness in the economy. In addition to solid earnings growth in our Aircraft, Industrial Products and Finance segments, we were able to meet our target through cost reduction and other actions." Earnings during the quarter benefited from gains of $8 million on the sale of non-core assets in the Automotive and Industrial Products segments, and a lower tax rate.


"We are pleased that we made progress in our top areas of strategic focus for the future. We improved return on invested capital, our priority metric for creating shareholder value, by 50 basis points. We have moved forward with a major restructuring program to support enterprise excellence. And we continued to invest in and build our leading brands," said Campbell.


For the quarter, revenues were up 2% before the impact of foreign exchange and the reclassification of revenues following the adoption of EITF 99-19, for which a substantial portion of the reclassifications are related to the inclusion of used aircraft sales (see footnote (a) in press release tables). Reported revenues were $3.3 billion versus $3.4 billion in 1999. Segment income improved 8% to $369 million from $341 million the prior year. Segment margin was 11.1% versus 10.1% last year.


For the year, revenues were up 13% before the impact of foreign exchange and the reclassification of revenues as a result of the adoption of EITF 99-19. Organic sales growth for the year was 4%, before a negative 2% impact from foreign exchange. Reported revenues increased to $13.1 billion, up 10% from $11.9 billion. Segment income improved 17% to $1.4 billion from $1.2 billion, resulting in a segment margin of 10.8%, up 70 basis points from 1999.


2000 Financial Highlights


Strong free cash flow of $463 million

EPS growth before special charges of 15% - the eleventh consecutive year of earnings improvement

Return on invested capital improvement of 50 basis points to 13.1%

Operating margin expansion of 70 basis points to 10.8%

Revenue growth of 10%

Repurchase of 6.6 million of Textron's common shares, including 1.8 million shares in the fourth quarter

Maintained a strong balance sheet, ending the year with a debt to capital ratio of 32%

Segment Highlights


In the fourth quarter, Textron reorganized its management reporting structure into five segments, separately reporting Fastening Systems and Industrial Products, which previously comprised the Industrial segment.


During the quarter, the Aircraft segment's backlog increased to a record level of $8.1 billion. During the year, Cessna booked a record 415 new jet orders, up 24% from 335 orders in 1999. Cessna also successfully launched delivery of the CJ2 in the fourth quarter, its third new product and the fourth new product for the Aircraft segment in 2000.

Bell Helicopter continued to see improvement to commercial helicopter sales and orders, increasing its backlog for commercial helicopters by approximately $100 million a year ago.

In 2000, Textron's Automotive segment was awarded new business totaling $829 million and increased its full-year operating margin by 60 basis points.

In Industrial Products, Textron continued to expand its Data-Signal-Voice test and installation equipment business at Greenlee with the announced acquisition of Tempo Research Corporation. The acquisition will increase Greenlee's annualized revenues to over $350 million.

The Fastening Systems segment continued to make operating performance improvements, increasing its operating margin by 70 basis points in the fourth quarter despite lower automotive volume.

Finally, Textron Financial achieved its 22nd consecutive year of net income improvement, while maintaining strong credit quality across its portfolio.

Restructuring Plan


To strengthen operating efficiencies and better align its operations with current economic and market conditions, restructuring actions are being taken in Textron's Automotive, Fastening Systems and Industrial Products segments. Through this program, Textron is modernizing and consolidating manufacturing facilities and processes, rationalizing product lines, divesting non-core units, outsourcing non-core production and streamlining sales and administrative overhead.


During the fourth quarter, the company recorded charges of $366 million, of which $349 million was goodwill. The largest portions of these goodwill adjustments are at Turbine Engine Components Textron (TECT) and Flexalloy. TECT is a manufacturer of air and land-based gas turbine engine components and airframe structures within the Industrial Products segment, and Flexalloy is a vendor-managed-inventory company serving primarily the heavy truck industry within Fastening Systems.


Including goodwill write-downs, Textron expects total charges of approximately $550 million, which is consistent with the company's previous estimates of $200 million before goodwill charges.


The cash cost of the program is expected to be between $140 and $160 million ($85 to $100 million after-tax). Ongoing annualized savings are expected to be $100 to $120 million, beginning in 2002, with $50 to $70 million realized in 2001. Substantially, all planned actions will be executed by year-end 2001, with a net reduction in global workforce of over 3,600, representing approximately 7% of the total head count in these three segments and 5% of Textron's total employees.


Write-down of E-business Investments


Textron has investments in a select group of ed-businesses, the largest being Safeguard Scientifics Inc., to accelerate the application of critical new technology across all of the company's businesses. While this remains an important strategic objective for Textron, the value of the company's investments has fallen substantially over the last few months.


As a result, the company has taken a one-time charge in the fourth quarter of $117 million ($76 million after-tax) to write-down its e-business investment portfolio to its current value. The company had been marking its publicly traded investments to market for balance sheet purposes, but had not previously recognized this through the income statement.


2001 Outlook


In 2001, Textron expects earnings per share before restructuring charges to increase approximately 5%. First quarter 2001 results are expected to be approximately $1.00, reflecting a significant level of automotive shutdowns anticipated during the quarter.


Campbell said, "Despite increased demand and improved productivity in many of our businesses, in particular Cessna, Bell Helicopter, E-Z-GO, Greenlee and Textron Financial, our 2001 outlook is influenced by lower industrial growth rates and a decline in automotive production."


This outlook is based on 2001 US GDP growth of about 2.5% and a reduction in the North American full-year automotive production of approximately 10% from 2000 levels. Production levels in the first quarter are expected to be down approximately 17% from a year ago. The company expects restructuring benefits to grow throughout the year, contributing to improved earnings.


Textron Inc. (www.textron.com) is a $13 billion, global, multi-industry company with market-leading businesses in Aircraft, Automotive, Industrial Products, Fastening Systems and Finance. Textron has a workforce of 70,000 employees and major manufacturing facilities in 30 countries. Textron is among Fortune magazine's "Global Most Admired Companies" and Industry Week magazine's "Best Managed Companies."




Full Advanta Story

SPRING HOUSE, Pa.--(BUSINESS WIRE)--January 23, 2001--Advanta Corporation (NASDAQ: ADVNB; ADVNA) today announced pretax fourth quarter income for Advanta Business Cards of $19.0 million, an

increase of 64% year on year and 34% over the third quarter of 2000. Pretax income for Advanta

Business Cards was $71.2 million for 2000, an increase of 108% over the $34.2 million reported

for 1999. The Company anticipates completing the sale of its Mortgage business to Chase

Manhattan Mortgage Corporation during first quarter 2001 and filed a preliminary proxy statement with the Securities and Exchange Commission on January 12, 2001.


The asset quality of the Business Card portfolio was consistent with the Company's expectations. Charge-offs for the fourth quarter were 4.95% on an annualized basis before the impact of a

one-time adjustment for bankruptcy charge-offs to comply with the Federal Financial Institutions

Examination Council's revised charge-off policy for the industry, as compared to 4.83% for the

prior quarter. After the one-time adjustment, which did not impact earnings, charge-offs for the quarter were 5.54%. Advanta Business Cards ended the year with managed receivables of $1.66

billion, as compared to $1.53 billion at September 30, 2000 and $1.04 billion at year end 1999.


"Advanta Business Cards completed its most successful year of operations to date," said Dennis

Alter, Chairman and Chief Executive Officer. "This business exceeded expectations set at the

beginning of 2000. We intend to build on this momentum by concentrating increased energy and

resources on the small business market where we are already one of the nation's largest issuers

of MasterCard business credit cards as we bring the sale of our Mortgage business to 'closure.'"

The sale of the Mortgage business to Chase Manhattan Mortgage Corporation is proceeding. As

described in the preliminary proxy statement, the definitive agreement provides for the sale of

substantially all of the assets of the Mortgage business to Chase Manhattan Mortgage Corporation for cash. The purchase price is estimated to be approximately $1,021,632,000 and will result in

a gain before transaction expenses of approximately $59,670,000. This gain will be reduced by a

charge of approximately $19,670,000 associated with equipment, facilities and derivative

instruments related to hedging activities which will not be purchased by Chase. "The completion

of this strategic transaction will convert the Mortgage business assets to cash, reducing debt

and enhancing the Company's funds available to invest in our very successful small business

credit card operation," said President Bill Rosoff.


Advanta reported company-wide net income for the fourth quarter 2000 of $3.2 million, or $0.13

per share on a diluted basis for its Class A and Class B shares combined. For full year 2000,

the Company reported a net loss of $156.7 million or $6.24 per share on a diluted basis for its

Class A and Class B shares combined.


The quarter's results were impacted by an Advanta Leasing loss of $7.9 million for the quarter.

After a thorough review of strategic alternatives available to its Leasing business, the Company has decided that it is in the best interests of its shareholders to cease originating leases.

The Company will continue to service the existing portfolio rather than sell the business or the portfolio. In connection with this decision, the Company recorded a $4.3 million charge to

write-down certain Leasing business assets, which are included in the quarter's results. Despite the loss, during the fourth quarter Advanta Leasing significantly improved the asset quality of

its portfolio. Charge-offs for the quarter were 3.91% as compared to 6.28% during the third

quarter of 2000. Over 30 day delinquencies declined to 6.85% from 7.87% at September 30, 2000,

and are at the lowest level since June 30, 1998.


Also included in this quarter's results are $17 million of charges primarily relating to venture capital asset valuation charges and the results of litigation, which are reported in the "Other" segment in the attached supplemental consolidating income statement. In addition, Mortgage

results include $25.3 million of termination fees under a servicing agreement.


The Company will issue guidance for 2001 during the week of February 19 which will take into

account the anticipated resolution of the strategic alternative process for the Mortgage and

Leasing businesses and corporate restructuring.


Advanta management will hold a conference call with analysts and institutional investors today,

January 23, 2001, at 9:00 am Eastern time. The call will be broadcast simultaneously for the

public over the Internet through http://www.advanta.com or http://www.vcall.com. To listen to

the live call, please go to the web site at least fifteen minutes early to register, download,

and install any necessary audio software. For those unable to listen to the live broadcast,

replays will be available shortly after the call on the Vcall site.


Advanta (http://www.advanta.com) is a highly focused financial services company with over 2,600

employees, servicing approximately $20 billion of assets, including approximately $12 billion in managed assets and approximately $8 billion in assets serviced for third parties. Advanta has

been providing financial services to consumers and small businesses since 1951, including a

broad range of self-service financial solutions and services on the Internet.


Advanta leverages its first-class direct marketing and information based expertise to develop

state-of-the-art data warehousing and statistical modeling tools that identify potential

customers and new target markets. Over the past five years, it has used these distinctive

capabilities to become one of the nation's largest issuers of MasterCard business credit cards

to small businesses. Advanta also created one of the first automated underwriting and sales

engines used in the non-conforming mortgage industry.


This Press Release contains forward-looking statements that are subject to certain risks and

uncertainties that could cause actual results to differ materially from those projected. The

most significant among these risks and uncertainties are: (1) the Company's managed net interest margin; (2) competitive pressures; (3) factors that affect the level of delinquencies and

charge-offs, including a deterioration of general economic conditions; (4) interest rate

fluctuations; (5) the level of expenses; (6) the timing of the securitizations of the Company's

receivables; (7) the level of insurance policy renewals; (8) the effects of government

regulation, including restrictions and limitations imposed by banking laws, regulators,

examinations, and the agreements between the Company's bank subsidiaries and their regulators;

(9) relationships with significant vendors, business partners and customers; (10) the amount and cost of financing available to the Company; (11) the ratings on the debt of the Company and its

subsidiaries; (12) the ability to attract and retain key personnel and customers; (13) the

timing and closing of the sale of the Mortgage business; (14) factors affecting the final

purchase price of the sale of the Mortgage business; (15) the approval of the sale by regulatory agencies and Advanta shareholders; and (16) factors affecting the ultimate amount of

restructuring and other related charges associated with the conclusion of the strategic

alternative process for the Mortgage and Leasing businesses. Additional risks that may affect

the Company's future performance are detailed in the Company's filings with the Securities and

Exchange Commission, including its most recent Annual Report on Form 10-K and its Quarterly

Reports on Form 10-Q.




Advanta Corp.


Supplemental Consolidating Income Statement


(in thousands)






Three Months Ended December 31, 2000




Advanta Advanta


Advanta Business Leasing


Mortgage Cards Services Other (a) Total


-------- -------- -------- -------- --------










income $ 30,380 $ 19,397 $ 4,100 $ 12,790 $ 66,667




income 10,745 20,364 876 0 31,985




revenues 55,471 5,399 1,732 0 62,602


Other revenues,


net 347 18,294 (690) (7,941) 10,010


-------- -------- -------- -------- --------




revenues 96,943 63,454 6,018 4,849 171,264


-------- -------- -------- -------- --------










expenses 66,425 28,492 9,939 12,099 116,955




expense 17,967 8,806 3,360 11,507 41,640


Provision for


credit losses 0 6,831 418 2 7,251


Minority int.


in inc. of




sub 1,723 334 163 0 2,220


-------- -------- -------- -------- --------




expenses 86,115 44,463 13,880 23,608 168,066


-------- -------- -------- -------- --------




Income (loss)




income taxes 10,828 18,991 (7,862) (18,759) 3,198


Income tax




(benefit) 0 0 0 0 0


-------- -------- -------- -------- --------




Net income


(loss) $ 10,828 $ 18,991 $ (7,862) $(18,759) $ 3,198


======== ======== ======== ======== ========




(a) Other includes insurance operations, investment and other


activities not attributable to other segments.






Advanta Corp.




(in thousands)






Three Months Ended










December 31, September 30, December 31, Prior


ORIGINATIONS 2000 2000 1999 Quarter


------------ ----------- ----------- ----------- ------




Direct $ 192,365 $ 233,149 $ 441,299 -17.5%


Broker 42,882 80,974 198,820 -47.0


Other indirect - - 4,466 N/M


----------- ----------- ----------- ------


Total Advanta


Mortgage loans $ 235,247 $ 314,123 $ 644,585 -25.1%






credit cards $ 945,088 $ 881,215 $ 609,078 7.2%


Leases 52,144 70,814 117,677 -26.4%














Mortgage $ 242,232 $ 1,028,221 $ 163,542 -76.4%




credit cards 250,000 136,050 35,942 83.8


Leases 55,752 70,093 105,300 -20.5


----------- ----------- ----------- ------






volume $ 547,984 $ 1,234,364 $ 304,784 -55.6%












Mortgage loans $ 8,082,706 $ 8,269,866 $ 8,261,925 -2.3%




credit cards 1,574,750 1,472,729 974,025 6.9


Leases 767,166 796,375 766,871 -3.7


Auto loans 39,155 53,160 93,189 -26.3


Other loans 27,265 24,250 17,643 12.4


----------- ----------- ----------- ------


Total average




receivables $10,491,042 $10,616,380 $10,113,653 -1.2%


Total average




receivables $21,491,518 $23,722,992 $21,239,095 -9.4%












Mortgage loans $ 7,887,110 $ 8,185,379 $ 8,299,685 -3.6%




credit cards 1,659,224 1,529,783 1,040,114 8.5


Leases 758,406 794,825 795,643 -4.6


Auto loans 34,034 47,094 83,851 -27.7


Other loans 28,455 26,080 21,930 9.1


----------- ----------- ----------- ------


Total managed


receivables $10,367,229 $10,583,161 $10,241,223 -2.0%


Total serviced


receivables $18,266,721 $23,299,071 $22,142,890 -21.6%






Advanta Corp.


Highlights (continued)


(in thousands, except per share data)






Three Months Ended










December 31, September 30, December 31, Prior


2000 2000 1999 Quarter


----------- ----------- ----------- ------










As a % of










expenses 4.17% 3.44% 3.30% 21.2%






methodology (a) 2.60 2.45 6.1




methodology 2.10 2.26 1.80 -7.1


Efficiency ratio 67.24 65.52 60.35 2.6


Basic earnings


(loss) per common


share $0.13 $0.62 $0.67 -79.7


Diluted earnings


(loss) per common


share 0.13 0.62 0.66 -79.8


Return on average


common equity 2.94% 14.76% 11.45% -80.1










Weighted average


common shares


used to compute:


Basic earnings


per common


share 25,293 25,259 24,611 0.1%


Diluted earnings


per common share 25,413 25,326 25,139 0.3




Ending shares


outstanding 27,126 27,222 27,344 -0.4




Stock price:


Class A


High $ 11.875 $ 13.563 $ 20.375 -12.4


Low 5.750 10.688 14.625 -46.2


Closing 8.813 11.250 18.250 -21.7


Class B


High 8.375 10.188 15.875 -17.8


Low 4.125 7.500 10.438 -45.0


Closing 7.188 8.141 14.063 -11.7




Cash dividends




Class A 0.063 0.063 0.063 0.0


Class B 0.076 0.076 0.076 0.0




Book value per


common share 17.06 16.81 23.14 1.5






(a) Beginning in the second quarter of 2000, charge-off and

delinquency statistics reflect the adoption of new charge-off policies

for mortgage loans and leases. Mortgage loans are generally

charged-off at the earlier of foreclosure or 180 days delinquent. The

previous policy was the earlier of foreclosure or 12 months

delinquent. Leases are generally charged-off at 121 days delinquent,

however the timing of the delinquency measurement was changed from

mid-month to month end in the second quarter of 2000. Beginning in the

fourth quarter of 2000, business credit card charge-off and

delinquency statistics reflect the adoption of a new charge-off policy

for bankruptcies. Bankrupt business credit cards are charged off

within a 60-day investigative period after receipt of notification.


The previous policy provided a 90-day investigative period.



- Statistical Supplement Available at http://www.advanta.com -




Advanta Corp., Spring House


David Weinstock


Vice President, Investor Relations, 215/444-5335






Catherine Reid


Vice President, Corporate Communications, 215/444-5073





[Back to Archives]

Leasing News, Inc. (Pending)
346 Mathew Street,
Santa Clara,
California 95050
E-Fax: (781)459-4789
Policy Statement