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Press Release
Investor Consortium Purchases Non-Prime Auto Finance Lender Triad Financial
The 16-Year-Old Company Announces New Owners, as it Looks to a Future of Growth and Strengthening Relationships With Customers, Employees and Investors

HUNTINGTON BEACH, Calif., May 2 /PRNewswire/ -- Triad Financial Corp. has been purchased by a consortium of investment firms led by Gerald J. Ford, President of Hunter's Glen/Ford Ltd. and former Chairman and CEO of Golden State Bancorp, and including GTCR Golder Rauner LLC, a major private equity firm, and Goldman Sachs & Co, a major investment bank. Dearborn-based Ford Motor Credit Company is the seller. Ford Motor Credit has owned and operated Triad as a wholly-owned subsidiary since June 1999. The transaction closed on April 29th.

"The new Triad owners plan to capitalize on the company's strengths and momentum in the non-prime auto financing market," said Jim Landy, who will remain CEO of the 16-year-old company. Landy, Triad's founder, will also be on the company's Board of Directors, invest in the company and will report to the Chairman of the Board Gerald J. Ford.

"In the last six years, we've grown from $500 million to nearly $4 billion in managed receivables and we're on pace to originate more than $2 billion in auto finance contracts this year, continuing the positive trend from last year's record earnings," Landy said.

"We're thrilled to be partnering with such a quality group of investors whose tremendous financial backing and industry savvy will enable us to continue to grow our market share and to provide financial services that deliver superior performance and profitability," continued Landy. "We have a bright future and look forward to building on our strong history."

Triad's track record of success is attributed to the company's proprietary pricing models and unique performance culture, driven by talented employees who stay focused on the customer. Triad's 1,200 employees are based in the company's Huntington Beach, Calif. headquarters and a regional center in North Richland Hills, Texas, as well as a field-based sales force.

"The Triad team will continue to execute the company's successful strategies and programs," Landy said. Customers, including the 5,000 automotive dealers Triad works with across the country, also can expect the same great service and attention to customer satisfaction that they have enjoyed for the past 16 years," he added.

"The change in ownership will be transparent to our customers and employees, and will allow us to continue to take advantage of market and growth opportunities," commented Landy. "We will continue to execute the same successful strategy, with the same passionate employees, competitive programs and powerful dealer relationships that have served us well over the past 16 years."

About Triad Financial

Triad Financial Corporation specializes in non-prime auto financing. With a strong foundation in the automobile industry, approximately 1,200 employees and just under $4 billion in auto finance receivables, Triad provides innovative solutions and distinctive customer service to more than 5,000 new and used car dealerships throughout the United States. Triad is headquartered in Huntington Beach, Calif. and has a regional office in North Richland Hills, Texas. For more information, visit www.triadfinancial.com or call (800) 898-6076.

Source: Triad Financial Corp.