FIRSTPLUS Not Affected by Knox County Bankruptcy Petition

Business Wire, Oct 9, 1998

DALLAS--(BUSINESS WIRE)--Oct. 9,1998--On October 2, 1998, Knox County Partnership, Ltd. ("Knox") filed a Chapter 11 petition in the Northern District of Texas. Knox is not otherwise affiliated with FIRSTPLUS Financial Group, Inc. ("FIRSTPLUS") or any of its subsidiaries, does no business with FIRSTPLUS, and is not a competitor of FIRSTPLUS. Knox's only involvement with FIRSTPLUS is that it owns in excess of 4 million shares of FIRSTPLUS common stock, and that Dan Phillips, Chairman and CEO of FIRSTPLUS, is a limited partner of Knox.

FIRSTPLUS Financial Group, Inc. is a diversified consumer finance company that originates, purchases, services and sells consumer finance receivables. FIRSTPLUS is headquartered in Dallas, Texas and has seven regional offices domestically, and a network of origination branches in the United States, and international operations based in Cardiff, Wales, the United Kingdom.

FORWARD-LOOKING COMMENTS

The above statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements in this press release could differ materially from those stated in such forward- looking statements. Among the factors that could cause actual results to differ materially are: the ultimate outcome of any negotiations, short-term interest rate fluctuations, level of defaults and prepayments, general economic conditions, competition, government regulation and possible future litigation, as well as the risks and uncertainties discussed in the Company's Current Report on Form 8-K, dated December 19, 1996, including without limitation, the uncertainties set forth from time to time in the Company's other public reports and filings and public statements.