IRVING, Texas — Exeter Finance Corp. recently announced the
expansion and extension of its warehouse credit facility to $1.075 billion of
available borrowing capacity from the previous level of $600 million.

Management from the specialty auto finance company indicated
the new borrowing base has a revolving period that matures in October 2015.

Officials highlighted the expanded credit facility includes
commitments from Wells Fargo, Citigroup, Deutsche Bank AG, New York Branch, and
Goldman Sachs Bank USA.

Exeter reiterated that the company uses warehouse credit
facilities for short-term financing of its receivables until it permanently
finances the receivables in securitization transactions.

"We're pleased with the continued support of our bank
partners as we build out Exeter's national footprint," Exeter chief executive
officer Mark Floyd said.

"We're now originating business in 44 states through 46
offices which include a combination of local and regional branches as well as
our national service center in Irving, Texas," Exeter continued. "We're
purchasing contracts from approximately 7,000 dealers now and expect that
number to continue to grow at a steady pace."

Nadim El Gabbani, principal at Blackstone, added, "Exeter's
tremendous progress over the past year is a testament to Mark and his team's
skill in building out a leading national auto lending platform.

"We are fortunate to be working in partnership with an
excellent group of banks, and the current warehouse facility and recent ABS
issuance will allow the company to continue pursuing its growth plan," El
Gabbani went on to say.

The company completed its second rated term securitization
last month, issuing $300 million in notes backed by subprime auto installment
receivables.


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