FIRSTPLUS FINANCIAL GROUP, INC. Acquires ABC Credit Corp

Business Wire, March 24, 1998

DALLAS--(BUSINESS WIRE)--March 24, 1998--FIRSTPLUS FINANCIAL GROUP, INC. (NYSE: FP) today announced that it had purchased, for cash, substantially all of the assets of ABC Credit Corp. Under the terms of the definitive agreement, which was signed today, FIRSTPLUS acquired ABC's nine branches and its consumer loan portfolio. The purchase price was not disclosed.

ABC Credit Corp., an indirect subsidiary of Area Bancshares Corporation, is an Owensboro, Kentucky-based originator of personal loans, dealer sales finance and real estate loans. Established in April 1994, ABC Credit has assets of approximately $12.5 million and 4,500 accounts. The acquisition will increase the number of FIRSTPLUS consumer finance branches to 150 and gives the Company a consumer lending presence in seven states.

"This is an important acquisition for FIRSTPLUS because it represents our entrance into the state of Kentucky," said Chuck Owens, President of FIRSTPLUS Consumer Finance. "It also continues our strategy of growth through strategic acquisitions of successfully managed consumer finance companies."

FIRSTPLUS plans to retain all 33 ABC Credit employees and to integrate the branch offices into the FIRSTPLUS Consumer Finance structure. The ABC Credit branches will also begin offering additional FIRSTPLUS products.

The above statements in this press release contain forward-looking statements that involve a number of risks and uncertainties. Reference is made to the Form 8-K, filed by the Company with the Securities and Exchange Commission on December 19, 1996, for a list of, and discussion with respect to, certain factors that could cause actual results to differ materially from the forward-looking statements.

Area Bancshares Corporation (NASDAQ: AREA) is a multibank holding company headquartered in Owensboro, Kentucky, with 54 banking locations in 23 cities throughout Kentucky. As of December 31, 1997, Area Bancshares had total assets of $1.9 billion.

FIRSTPLUS FINANCIAL GROUP, INC. (NYSE: FP) is a specialized consumer finance company that, through its subsidiaries, originates, purchases, services and securitizes consumer finance receivables, primarily home improvement and debt consolidation loans, all secured by liens on the borrower's home. FIRSTPLUS, headquartered in Dallas, has regional offices in Denver, Colorado; Holly Springs, Mississippi; Columbus, Ohio; Columbia, South Carolina; Mission Viejo, California; Salt Lake City, Utah, Tustin, California, and a network of origination branches nationwide.

CONTACT: FIRSTPLUS FINANCIAL GROUP, INC.

Daniel T. Phillips, Chairman/CEO

Eric C. Green, President

William P. Benac, CFO

214-599-6300

or

FIRSTPLUS FINANCIAL, INC.

Randy Hicks, Corp. Communications

214-599-7952

or

Area Bancshares Corp.

Timothy O. Shelburne

502-688-7750