RIFCO Renews $30 Million Securcor Trust Securitization Facility

RED DEER, AB, Sept. 30 /CNW/ - RIFCO Inc. (TSXV: RFC) is pleased to announce that it has received its 5^th annual renewal on its funding facility with Securcor Trust. This renewal replaces the previous $30M facility with a new facility in the same amount. Securcor is the Company's longest standing funder.

The renewal terms and rates are substantially improved over those previously received. This includes a reduction in cash reserve ratios that will result in an estimated one-time cash reserve release of $800,000.

In addition, RIFCO's strong loan performance within the facility continues to generate scheduled cash holdback releases in accordance with the facility parameters. The Company must continue to meet certain financial covenants under the renewal. The Company met all financial covenants in the prior year.

RIFCO employs a balanced approach for loan portfolio funding of equity, senior debt lines, subordinated debt and loan securitization funders.

The renewed facility continues under the Master agreement completed on March 31, 2005 for a term that will expire on August 31, 2011.

About RIFCO Inc

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.

About Securcor Corporation (Administrative Agent for Securcor Trust)

Securcor is a specialized Toronto-based investment banking operation providing customized securitization and structured financing services to mid and large sized Canadian companies.

Securcor has a strong presence in the automotive dealer and automotive leasing industry. Securcor has key funding relationships with several leading Canadian and U.S. financial institutions.  Securcor senior management team has more than 125 years of related industry experience. The address of the Securcor website is www.securcor.com.

The common shares of RIFCO INC. are traded on the TSX Venture Exchange under the symbol "RFC". There are 19.23 million shares outstanding and 20.93 million (fully diluted) shares.

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

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