HOUSTON — First Investors Financial Services Group said
Tuesday's special meeting of its shareholders resulted in approval of the company's
previously announced merger with an affiliate of Aquiline Capital Partners, a New
York-based private equity firm investing in the financial services sector.

When reached by SubPrime Auto Finance News late Tuesday, executive
vice president, secretary, treasurer and chief financial officer Bennie Duck
said the company was working extensively to close the deal by today.

First Investors indicated that approximately 6.2 million
shares or more than 95.5 percent of the total shares of the company's common
stock outstanding as of Tuesday were included in the vote. Officials tabulated
that more than 99.9 percent of shareholders voted in favor of the merger.

Approval of the merger required the affirmative vote of at
least two-thirds of the shares outstanding as of Oct. 1.

Under the terms of the approved agreement and plan of
merger, First Investors shareholders will receive $13.87 in cash for each share
of the company's common stock they hold.

When First Investors first announced the merger back on
Sept. 26, president and chief executive officer Tommy Moore Jr. said, "The
acquisition by Aquiline is the result of a thorough and competitive process
focused on maximizing value for our stockholders."

And Aquiline CEO Jeff Greenberg added, "We are excited to
partner with Tommy Moore and his management team.  They have an impeccable reputation and the
track record at First Investors is outstanding throughout their 23-year
history."

The merger announcement arrived after First Investors
claimed great success during its 2012 fiscal year, which wrapped up on April
30.

The company reported net earnings of $2,268,202, or 33 cents
per fully diluted share, for the three months that ended April 30 and
$8,137,229, or $1.30 per fully diluted share, for the year wrapped up on the
same date.


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