Consumer Portfolio Services announced that for the three months ended March 31, 2003 total revenues increased approximately $9.4 million, or 72 percent, to $22.5 million, compared to $13.1 million for the three months ended March 31, 2002. Pretax income for the first quarter of 2003 was $2.4 million, compared to a pretax loss of ($6.8 million) for the comparable 2002 period. Net income for the quarter ended March 31, 2003 was $6.3 million, or $0.29 per diluted share, compared to a net loss before extraordinary item of ($981,000), or ($0.05) per diluted share, for the quarter ended March 31, 2002. Diluted shares outstanding were 21.9 million and 19.3 million for the quarters ended March 31, 2003 and 2002, respectively.

"The first quarter results continue to evidence our solid operating performance and the strength of our portfolio. The 2003-A securitization that we completed this past quarter continued our trend of successful execution in the asset backed market," said Charles E. Bradley, president and chief executive officer of Consumer Portfolio Services. "As previously stated, our strategy is to grow our portfolio cautiously, as well as to look for selective acquisition opportunities that will complement our business strategy and supplement our existing portfolio. The recently announced acquisition of TFC Enterprises fits with this strategy, and we look forward to completing the transaction later this month."

Consumer Portfolio Services' managed receivables totaled $595.6 million at March 31, 2003. During the first quarter of 2003, the Company purchased $87.3 million in contracts and completed the $138.1 million CPS Auto Receivables Trust 2003-A securitization. During the same period in 2002, the Company completed one asset backed term securitization of $45.65 million.

Conference Call

Consumer Portfolio Services announced that it will hold a conference call Wednesday, May 7, 2003, at 1:30 p.m. EST to discuss its quarterly results. Those wishing to participate by telephone may dial-in at (973) 582-2783 approximately 10 minutes prior to the scheduled time.

A replay will be available between May 7, 2003 and May 13, 2003, beginning one hour after conclusion of the call, by dialing (877) 519-4471. The reservation number is 3773584. A broadcast of the conference call will also be available live and for 30 days after the call via the Company's web site at www.consumerportfolio.com and at www.streetevents.com.

About Consumer Portfolio Services, Inc.

Consumer Portfolio Services, Inc. is a consumer finance company that specializes in purchasing, selling and servicing retail automobile installment sale contracts originated by automobile dealers located throughout the United States. The company is currently active in 38 states. Through its purchase of contracts, the company provides indirect financing to car dealer customers with limited credit histories, low incomes or past credit problems, who generally would not be expected to qualify for financing provided by banks or by automobile manufacturers' captive finance companies.