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INDIANAPOLIS — J.D. Byrider recently closed its first
asset-backed securitization. The deal led by RBS Securities Inc. totaled $145
million.

The company highlighted the issuance was rated by both
S&P and DBRS, and the ratings on the notes ranged from AA to BB. 

"Entering the securitization market has been our focus for
almost a year, and this deal allows us to access a much larger pool of capital
to fund our growth," J.D. Byrider chief executive officer Steve Wedding said.

"With 20 company-owned stores, we now have the critical mass
needed to take advantage of this opportunity," Wedding continued. "As we
continue to develop and acquire additional stores, regularly accessing the
securitization market will be essential."

J.D. Byrider was acquired by Altamont Capital Partners one
year ago, and since that time, the company has added 13 stores and four new
franchise groups.

Chief financial officer Bill Brunner insisted growth is
coming from company store and existing franchisee expansion, as well as the addition
of new franchisees.

Currently, J.D. Byrider operates 116 franchised and 20
company-owned dealerships in 30 states.

Brunner elaborated on the importance of the securitization
to J.D. Byrider's future

"Though this is our first securitization, we are very
pleased that the rating agencies recognized our 20 years of consistent
performance and industry leadership by granting us an AA rating. We are also
very pleased with the reception from the investment community," Brunner stated.

"Accessing this large financing market is important for our
continued growth, and it helps us to further diversify our financing sources,"
he added. "Going forward, our existing bank group will continue to fund our new
contract originations, and we expect to be back in the ABS market at least
annually."