RIFCO Now Online for Dealer Applications

    RED DEER, AB, Oct. 31 /CNW/ - RIFCO Inc. (TSX.V-RFC) today announced that
it has launched its dedicated web based loan application solution for Canadian
auto dealers. The online system will support RIFCO's efforts to provide
superior customer service to its dealers while providing non-prime and
sub-prime car loans to dealer customers.
    The online experience was designed with dealer processes in mind. Dealer
service is a paramount priority. As such, RIFCO needed to invest in cutting
edge technology to ensure dealers could go from customer application to funded
contract quickly and efficiently.
    Central Alberta Finance (CAF), a remote finance office for independent
auto dealers, has been dealing with RIFCO for years. CAF has recently
converted to RIFCO's secure application solution. Otto Stepanik, President of
CAF reported immediate benefits stating, "With the web interface, we continue
to receive the personal attention we are used to from RIFCO and now enjoy
faster application turn around times and real time deal status reporting."
    Denise Rowlands, Special Finance Manager for Cambridge Toyota in Ontario
appreciates the solution. "I welcome the 24/7 application submissions and on
demand loan documents. Most important, I continue to deal with my regular
buyer, and with the new interface it is more efficient than ever."
    RIFCO's sales and marketing efforts are directed to select new and used
vehicle dealers that meet certain expectations regarding a win-win
partnership. In return, RIFCO offers flexible credit requirements, innovative
deal structuring and competitive dealer incentive opportunities. Most
important, RIFCO remains committed to personal interaction with its dealer
partners. RIFCO's experienced loan buyers work closely with dealer
representatives to maximize credit approvals.
    RIFCO understands that it is people that do business with people.
Technology solutions are important tools to support RIFCO's one-on-one
interactions with dealer representatives.
    The web based application solution is currently being rolled out to
RIFCO's existing dealer base. Newly enrolled dealers will begin using the web
based application solution with their first credit applications to RIFCO.

    About RIFCO Inc.
    RIFCO is a specialty consumer finance corporation currently providing
motorists with non-prime Auto Purchase Financing and mid-market Automotive &
Commercial Repair Financing. RIFCO has a growing network of new & used vehicle
dealers and licensed repair facilities 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., Doug K. Decksheimer, Vice President
of Marketing, Telephone: (403) 314-1214 Ext 117, Fax: (403) 314-1132, Email:
decksheimer@rifco.net, Website: www.rifco.net

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