RIFCO grants options

    RED DEER, AB, July 7 /CNW/ - RIFCO Inc. (TSX.V-RFC) has granted 650,000
stock options to senior officers and directors of the Company. The options
were granted at an exercise price of $0.35 per common share and will expire on
July 7, 2013. The options will vest over two years.
    RIFCO today re-filed the audited consolidated financial statements for
the year ending March 31, 2008 which were originally filed on Sedar June 30,
2008. A formatting change to Note 8 of the financial statements inadvertently
over stated the total of the unsecured debentures by $2,495,000 in the note.
This clerical error did not affect any other aspects of the financial
statements which remain unchanged from the prior filing. Copies can be
obtained on SEDAR at www.sedar.com.

    About RIFCO Inc.
    RIFCO is an auto purchase finance Company currently providing motorists
with near-prime/non-prime financing through a growing network of selected new
and used vehicle dealers operating in all provinces except Saskatchewan and
Quebec. RIFCO Inc. operates through its wholly owned subsidiary Repair
Industry Finance Corporation.
    The common shares of RIFCO INC. are traded on the TSX Venture Exchange
under the symbol "RFC". RIFCO Inc. has 19.23 million shares outstanding.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release

For further information:

For further information: RIFCO INC., Lance A. Kadatz, Vice President and
Chief Financial Officer, Telephone: (403) 314-1214 Ext 111, Fax: (403)
314-1132, Email: kadatz@rifco.net, Website: www.rifco.net

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