RIFCO Sets Origination Milestone at over $5 Million in a Month

RED DEER, AB, April 4 /CNW/ - RIFCO INC. (TSXV-RFC) is pleased to report that for the month of March, new loan originations exceeded $5 million dollars.

This amount of new loans granted, sets a monthly record for RIFCO.  The Company has previously reported that in the first three quarters ending Dec 31, 2010 it had achieved a 47% loan origination growth rate over the same period in the prior year.

The Company continues to develop additional capacity and new volume in order to leverage its loan origination and loan servicing platform.

RIFCO achieves loan origination growth through increasing dealer enrollments and increasing existing dealer loan levels.

While the $5 million dollar milestone in new originations is merely the new 'high water mark' for monthly originations, it does demonstrate a growing capacity.  This level of originations should not automatically be seen as average or typical.  Further, this monthly volume level should not be automatically extrapolated into historic or future looking quarterly or annual origination levels.

RIFCO previously reported $28 million in new loan originations for the fiscal year ended March 31, 2010, and has a vision of reaching an origination level of $100 million per year in new loans.

About RIFCO

RIFCO is one of Canada's fastest-growing automotive finance companies. Non-traditional auto loans are indirectly originated through a growing network of selected new and used vehicle dealers operating in all provinces except Saskatchewan and Quebec.

The common shares of RIFCO INC. are traded on the TSX Venture Exchange under the symbol "RFC". There are 19.53 million shares (basic) outstanding and 20.93 million (fully diluted) shares.

Certain information contained in this press release, including information and statements which may contain words such as "objective", "estimates", "would", "will", "contemplates", "expects" and similar expressions and statements relating to matters that are not historical facts, are forward-looking information including, but not limited to, information as to future performance.

This forward-looking information is based on certain material factors, assumptions and analyses made by RIFCO in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results, performance or achievements will conform with RIFCO's conclusions, forecasts, projections, expectations and predictions expressed or implied by the forward-looking information in this press release is subject to known and unknown risks and uncertainties which could cause actual results to differ materially from RIFCO's conclusions, forecasts, projections, expectations and predictions expressed or implied by the forward-looking information in this press release, including: adverse market and economic conditions.  Additional risks may be described in RIFCO's Annual Report for the most recently completed financial year end which may be found on SEDAR at www.sedar.com. If any of the above risks or uncertainties materialize, or if the material factors, assumptions and analyses applied by RIFCO are incorrect, actual results may vary materially from those expected in the forward-looking information in this press release.

Consequently, all of the forward-looking information contained in this press release is qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by RIFCO expressed or implied by the forward-looking information in this press release will be realized or, even if substantially realized, that they will have the expected consequences to or effects on RIFCO or its business operations.  RIFCO assumes no obligation, except as required by law, to update publicly any such forward-looking information, whether as a result of new information, future events or otherwise. Readers should not place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE RIFCO Inc.

For further information:

CONTACT:
RIFCO INC.
Lance A. Kadatz
Vice President and Chief Financial Officer
Telephone: 1-403-314-1214 Ext 7007
Fax: 1-403-314-1132
Email: kadatz@rifco.net
Website: www.rifco.net

Profil de l'entreprise

RIFCO Inc.

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