Security Asset Capital Corp. enters into agreement with an investor to acquire Security Asset Credit Corp

Business Wire, Feb 12, 1997

SAN DIEGO--(BUSINESS WIRE)--Feb. 12, 1997--Security Asset Capital Corp. (OTC:SCYA) has entered into an agreement with an investor to acquire Security Asset Credit Corp., a California receivables collection firm for stock.

This will further the quest of Security Asset Capital Corp. to become a fully vertically integrated company. Security Asset Credit is a full service consumer collection, purchasing, scoring, repackaging, and sales organization. The present management has more than 30 years experience in the industry and gives Security Asset Capital Corp. the necessary tools to expand in the asset liquidation industry.

Security Asset Capital will have its new audited consolidated financial statements available within the next several weeks and the company has a new logo which is being sent to the United States Department of Commerce for approval as a registered trademark.

Additionally, Security Asset Management and Security Asset Credit will have new offices as of Feb. 14, at 701 "B" St., Suite 1725, San Diego, Calif. 92101. The new telephone number is 619/232-0010 or 800/954-8700 and the new fax number is 619/232-9185.

CONTACT: Security Asset Capital Corp., San Diego

Darrell Musick, 619/793-3655