Travelers and RIFCO Announce Strategic Alliance For Auto Repair and Maintenance Finance in Canada

    VANCOUVER and Red Deer, AB, March 28 /CNW/ - Travelers Acceptance
Corporation and RIFCO Inc. (TSX.V-RFC) yesterday announced the formation of a
strategic alliance whereby the companies will together work to assure that
vibrant consumer finance solutions for Repairers, Garages, Repair Centres,
Repair Shops, and Auto Maintenance Centres will be provided under Travelers
Automotive Aftermarket Finance Program.
    The alliance broadens the scope of Travelers Acceptance consumer-based
finance solutions, while allowing RIFCO to exit this non-core channel in order
to maximize unprecedented growth of its non-prime Auto Purchase Financing
through its Canadian automotive dealer network.
    "We welcome the opportunity to work with RIFCO senior executives to
ensure that there is no disruption of service delivery to the thousands of
repairers nationwide utilizing automotive aftermarket financing to increase
sales, profits and consumer loyalty to their repair operation," said Karl
Sigerist, Senior Vice President and Chief Operating Officer for Travelers
Acceptance Corporation. "The Travelers Team is ready and willing to earn the
confidence and respect of the former RIFCO network of automotive aftermarket
repair and service vendors. Our aim is to provide a service experience that
will drive the former RIFCO channel to choose Travelers as their financing
partner of choice, and assist them to grow their businesses with point-of-sale
consumer finance programs that meet the needs of their customers."
    "Travelers is uniquely suited to serve the point-of-sale financing needs
of RIFCO's network of repairers. Travelers has over 30 years experience in
consumer financing. We strongly encourage RIFCO repairers to take advantage of
Travelers fast track enrolment and begin benefiting from its well developed
solutions." said Bill Graham, President and CEO of RIFCO Inc.

    RIFCO is a specialty consumer finance corporation providing motorists
with non-prime Auto Purchase Financing. RIFCO has a growing network of new and
used vehicle dealers and has established a channel of licensed mid-market
Automotive and Commercial repair facilities operating in all provinces except
Saskatchewan and Quebec. RIFCO Inc. operates through its wholly owned
subsidiary Repair Industry Finance Corporation. To learn more about RIFCO,

    Travelers Acceptance Corporation has since 1974 been engaged by small and
medium size businesses to provide financial choice and the generation of value
through the application of experience, service and innovation to arrange,
structure and fund unique indirect consumer financing solutions that close
more sales, increase the businesses customer base and overall profitability.
Travelers Acceptance Corporation consults with its business clients to create
term financing solutions and services specifically tailored to providers and
consumers of products and services in tuition, automotive aftermarket,
automotive repair, vacation ownership, healthcare, membership, consumer
durables, retail, power products and home improvement businesses. For more
information about Travelers Consumer Finance, visit

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