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Esstman Joins Exeter Board

March 04, 2008

Atlanta – Navigation Capital Partners, a leading Atlanta-based middle market private equity investment firm, today announced that Edward Esstman has joined the board of directors of Exeter Finance Corp.

Based in Irving, Texas, Exeter is a non-prime auto finance company specializing in purchasing and servicing of auto finance contracts from select franchised auto dealers throughout the United States. As one of Navigation Capital’s core companies, the firm announced plans last month to invest up to $60 million in Exeter to support its growth initiatives.

“Ed’s outstanding reputation in the auto finance industry and well-developed network of relationships with dealers and industry decision makers across the country make him a terrific addition to our board,” said Sam Ellis, President of Exeter. “His track record of visionary leadership, extensive experience and market knowledge certainly fit well with our strategy and he will be immensely helpful in growing and expanding our business.”

Mr. Esstman brings more than four decades of auto finance industry experience to Exeter’s board. Mr. Esstman retired from the board of AmeriCredit Corp as a Vice Chairman in 2004. During his 12 years with the company, he also served as President and Chief Operating Officer of AmeriCredit Financial Services.

“Looking back at all the years that I’ve been involved with non-prime auto finance, Exeter has superb timing,” said Mr. Esstman. “I’m looking forward to working with Navigation Capital, Sam and the knowledgeable management team in place to support Exeter’s growth.”

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