National Auto Finance Company, Inc. Announces the Resignation of Director Stephen Gurba

Business Wire, June 12, 1998

BOCA RATON, Fla.--(BUSINESS WIRE)--June 12, 1998--National Auto Finance Company, Inc. (Nasdaq/NM:NAFIE) today announced that Stephen L. Gurba has resigned from the Board of Directors.

"We want to express our appreciation to Steve for his efforts during his one-year tenure as a director," commented Keith B. Stein, Chief Executive Officer. "We wish him the best in his future endeavors."

National Auto Finance is a specialized consumer finance company engaged in the purchase, securitization and servicing of automobile loans primarily originated by manufacturer-franchised automobile dealers for non-prime consumers. The Company markets its products and services to dealers through the efforts of its direct sales force and through strategic referral and marketing alliances with financial and other institutions that have established relationships with dealers. The Company has contractual relationships with approximately 2,600 dealers in 40 states.

This news release contains statements thatare forward-looking statements within the meaning of applicable federal securities laws and are based upon the Company's current expectations and assumptions which are subject to a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. Primary factors that could cause actual results to differ include the availability of financing on terms and conditions acceptable to the Company, the ability of the Company to securitize its finance contracts in the asset-backed securities market on terms and conditions acceptable to the Company, and changes in the quality or composition of the serviced loan receivable portfolio. Certain of these as well as other factors are described in more detail in the Company's Annual Report on Form 10-K for the year ended December 31, 1997, and in certain other reports filed by the Company with the Securities and Exchange Commission.

    CONTACT:  National Auto Finance, Boca Raton
               Joel B. Ronkin, 800/999-7535