Rockford Industries Signs $100 Million Agreement With AT&T Capital Leasing Services

Business Wire, Oct 8, 1997

SANTA ANA, Calif.--(BUSINESS WIRE)--Oct. 8, 1997--Rockford Industries Inc. (Nasdaq:ROCF) Wednesday announced it has signed an agreement with AT&T Capital Leasing Services Inc. that provides Rockford with a two-year $100 million funding conduit for equipment finance contract originations.

The AT&T Capital Leasing Services and Rockford agreement provides added value for both companies as well as for Rockford customers. According to Gerry J. Ricco, president and chief executive officer of Rockford Industries, "This new agreement with AT&T Capital Leasing Services is a strategic complement to the recently announced $250 million Sun America Revolving Securitization and the $150 million Corestates commercial paper conduits.

"This agreement positions Rockford to take further advantage of our ongoing investment in electronic application processing systems and to further pursue the multi-billion dollar general business equipment financing marketplace," said Ricco. "AT&T Capital Leasing Services' knowledge and expertise in general equipment will allow us to grow our customer base, and continue to pursue our mission to originate commercial equipment finance contracts.

"We are pleased to be working with a company like Rockford Industries which has a growing presence in several niches such as the health care and industrial markets," explained Jim Tenner, president of AT&T Capital Leasing Services. "This agreement enables us to further leverage our underwriting and high volume processing capabilities."

About AT&T Capital Leasing Services Inc.

AT&T Capital Leasing Services is a subsidiary of AT&T Capital Corp., one of the largest equipment leasing and finance companies in the United States. AT&T Capital Corp., formerly majority-owned by AT&T Corp., is a privately held, independent company that provides diversified equipment leasing, financing and related services to approximately 500,000 commercial customers in the United States, Europe, Canada, the Asia/Pacific region and Latin America.

About Rockford Industries

Rockford Industries Inc., founded in 1984, is a nationwide convenience-oriented, specialty finance company engaged primarily in the financing of medical and medical-related equipment for primary care providers in the health care industry and also essential use equipment to the small- to medium-size general business community. Rockford provides financing principally in the lower-priced, small ticket, segments of the equipment financing market where equipment is priced at $250,000 or less.

CONTACT: Rockford Industries Inc., Santa Ana

Gerry Ricco, 714/547-7166

or

Coffin Communications Group, Sherman Oaks, Calif.

John Muir, 818/789-0100