###press release####

"The judge modified Kozlowski's bail restrictions so he could visit Colorado for four weeks - from Dec. 20 to Jan. 15. Kozlowski owns three properties near Vail in Eagle County, including a 17-room mansion, a ski resort condominium, and an undeveloped lot."

CSI Acquires German IT Lessor

Diversity Capital LLC adds John Dale as new Director

Infolease/American Lease Insurance/Northern Consulting

MB Financial to Acquire South Holland Bancorp

HPSC Conference Call Today/Reports 27% Increase in Net Income

CIT Changes Fiscal Year-End To December 31

Congress approves programs to improve cyber security

#### Denotes Press Release

Alexa Web Comparison Up-Date---tomorrow (with trends)

Pictures from the Past

1995

Warren Capital Corporation

Jeff Allard, Clay Stevens, Roger Wood

Warren Capital Corporation has provided in excess of

$200 million of long term financing for over 1,000 California

mid-market companies.

Classified Ads---Jobs Wanted

Maria Martinez-Wong Cleans up “Jobs Wanted”

Sales: Mission Viejo, CA

Account Sales Executive with 10 years of leasing experience looking for company to bring existing customer base.

Email:makelly21@hotmail.com

Sales: Portland, OR

Account Exec. position based from Portland, OR originating and business with "middle- market" companies. Fifteen+ years experience in the Pacific Northwest. Have worked for bank and non-bank leasing companies. Email:markstu@msn.com

Sales Manager: Atlanta, GA

Professional. finance mgr. w/formal credit ed./ reg. vp/ secured/unsecured commercial loans/ direct end user network/equip. leasing/structuring small,mid,big ticket transactions. 10+ years NE & SE. Have vendor servicing w/existing and active network of accounts will bring with me. Email:AlanAustin2000@msn.com

Sales Manager: Seattle, WA

Senior level sales professional w/ (20) plus experience in mid market financing & leasing. The last (8) plus years being self employed in middle market brokerage. Email:markhenley@qwest.net

Sales Manager: New York, NY

I have over 25 years owning an independent leasing company that specialized in truck leasing. Tow trucks, Limos, ambulances, tractors, etc.. Email:rfleisher@rsrcapital.com

Senior Management: Long Island, NY

Degree Banking/Finance. 13 years leasing exp. Now prez young leasing company where promises were not met. Interested in joining established firm with future. Email:bob33483@yahoo.com

( for full listing, please go to:

http://65.209.205.32/LeasingNews/JobPostings.htm )

-------------------------------------------------------------------------------------------

American Express Business Finance Layoffs

“AMEX Business Finance announces the layoff of over 20 of the remaining 30

employees within Diversified Finance (Formerly First Sierra) Brad Alexander

(known for his outrageous and very humorous adult entertainment antics in Houston upon his arrival) is also given notice of termination for his alleged lack of understanding and leadership of the business unit, “according to a highly reliable source.

“Tom Strain and Dan Dengate the last remaining managers have been terminated

as of December 13th. They may reapply for new positions but highly

unlikely they will be redeployed. AMEX Business Finance reported a dismal

$12,000,000 in small ticket originations in October down from a high of

$83,000,000 in October 1999.

“Mike Sheehan (sp)(Formerly from Rockford Industries) and Rich Tambour

(sp)(From American Express Corporate have appointed Rick Andersen (Formerly

from The Republic Group) as temporary Sr. VP. to help mastermind the

consolidation and realignment of the business unit to a National Vender

focus.

“Rumor to close all remaining (First Sierra Locations) is being discussed.

Third Quarter leasing operation reported to have a $26,000,000 loss

concentrated within the Private Label group built by the infamous Thomas

Depping.”

“Please do not disclose my identity. “

Name With Held

“Ric Andersen is very nervous because he is going to be in charge. He is very nervous that this may negatively impact his career.

“They also released the new comp. Plan today and it's all geared towards

major vender programs.

“The expected quota is $5,000,000 per Rep. per year. They will receive 1.5% of Equipment cost including their cell phone, car allowance and, draw, and salary. This means if they hit quota they will earn $75,000 and have to pay all their own expenses. Most of these guys are used to $125,000-$250,000 per year. They will not be able to make the adjustment.”

Name With Held

__________________________________________________________________

Have you heard anything about Citicapital, NJ?

“I am told that they have laid of a number of people and have just hired several security guards to patrol the offices. I don't know this for sure and

am sharing it with you for confirmation. If you chose to print this please do so without my name.”

Name With Held

Please send to a colleague as we are trying to build our readership

-----------------------------------------------------------------------------

ELA Releases: State of the Industry Report

### ######################## #######################\

The Equipment Leasing Association just released its State of the

Industry Report. In case you are wondering how certain financial

industries are doing in relation to the overall economy, leasing is

consistent with the current environment! The survey shows that the 2002

estimate for leases is $204 billion out of $655 billion in total new

business equipment investment. That figure is down from $216 billion in

equipment leases on $700 billion in new business equipment investment

for 2001. The projection for new equipment investment in 2003 is

slightly improved at $668 billion, of which $208 billion will be leased.

### ###################### #####################

State of the Industry Report Shows Equipment Leasing Consistent With

Overall Economy

Slow Economy Causing Leasing Businesses to Create Greater Efficiencies

for Future Profitability

Arlington, Virginia-The Equipment Leasing and Finance

Foundation, a non-profit organization dedicated to enhancing recognition

and understanding of equipment lease financing, has released its 2002

State Of The Industry Report (SOI). The SOI report shows that while the

overall economy has affected the equipment leasing industry, renewed

industry emphasis on leasing basics is creating the groundwork for

profitability during future economic recovery.

"The key factor affecting 2002 leasing performance is the economic

recession of the U.S. economy," said Lisa Levine, Executive Director,

Equipment Leasing and Finance Foundation. "However, the overall view of

those interviewed for this report is that this is a good time to build a

leasing business. As one interviewee said, 'August 2003 will be much

different.' "

Most organizations are using lessons learned to concentrate on improving

credit quality, risk-based pricing and residual value management. They

are also looking to technology, particularly Web-based solutions and

applications systems integration to improve operational efficiency.

Investment in human resources is also a priority, with companies

adopting new recruitment and employee development programs.

Leasing continues to be the most widely used method of asset-based

financing in the U.S., accounting for approximately one-third of

external financing of total capital investment. Still, leasing volume is

in direct relation to business equipment investment. The 2002 estimate

for leases is $204 billion out of $655 billion in total new business

equipment investment. That figure is down from $216 billion in equipment

leases on $700 billion in new business equipment investment for 2001.

The projection for new equipment investment in 2003 is slightly improved

at $668 billion, of which $208 billion will be leased.

Among the report results from the three leasing market segments - Small

Ticket comprising transactions up to $250,000, Middle Market comprised

of transactions from $250,000 to $5,000,000 and Large Ticket for

transactions over $5,000,000-are the following:

* Small ticket leasing accounted for approximately 30% of the

total volume reported by all survey respondents with construction,

trucking and wholesale/retail among the key industries served.

* In terms of profitability, small ticket segment average pre-tax

income was 20.1% of revenues, higher than that of the middle market

(18.3%) and equal to that of the large ticket market.

* Although the middle market reported the lowest profitability of

the three market segments, it had the highest return on equity (18.7%)

* The middle market segment had approximately 46% of new business

volume coming from computer-related services, software and hardware,

indicating this segment is significantly affected by technology

spending.

* Large ticket leasing accounted for 45% of new business in 2001,

but it faces uncertainties caused by potential IRS rulings; economic

difficulties in two key segment industries, rail and airline; and

changes in off-balance sheet financing techniques.

The SOI also includes information by categories of independent, captive

and bank-affiliated leasing entities. In particular, the report cites

the emergence of bank lessors as having great potential to become

significant competitors in leasing. Bank lessors' funding, capital

access and cost-sharing advantages could create greater market

concentration than that of competitors.

"While we're in a challenging business climate, leasing equipment

organizations are taking this time to position themselves to take

maximum advantage of future growth opportunities," said Levine.

The SOI contains analysis of industry results, trends, developments and

future outlook for the equipment leasing industry. It was compiled using

information from the Equipment Leasing Association's (ELA) Survey of

Industry Activity, interviews, and independent economic data.

General public wishing a copy of the survey may visit

elaonline.com/library to download the pdf file.

For more information on the leasing industry, visit ELA online at

http://www.elaonline.com or check out ELA's informational portal for

financial decision-makers at http://www.leaseassistant.org.

About The Equipment Leasing and Finance Foundation

The Equipment Leasing and Finance Foundation is a 501c3 non-profit

organization established in 1989 by the Equipment Leasing Association of

America (http://www.elaonline.com). The Foundation develops and promotes

the body of knowledge to enhance recognition and understanding of

equipment lease financing. The Foundation's strategic objectives are to

maximize the role that equipment leasing plays in the world economy, and

to be the prime developer and disseminator of a body of knowledge of the

leasing industry. Visit the Foundation online at

http://www.leasefoundation.org.

### #### ##################################################

---------------------------------------------------------------------------------

Rates fall in Treasury bill auction

By Associated Press

WASHINGTON (AP) Interest rates on short-term Treasury securities fell in Tuesday's auction to the lowest levels since 1958.

The Treasury Department sold $16 billion in three-month bills at a discount rate of 1.190 percent, down from 1.410 percent last week. An additional $16 billion was sold in six-month bills at a rate of 1.225 percent, down from 1.395 percent.

The three-month rate was the lowest since Aug. 4, 1958, when the bills sold for 1.164 percent. The six-month rate was the lowest since the government began selling these bills on a regular basis in 1958.

The new discount rates understate the actual return to investors 1.211 percent for three-month bills with a $10,000 bill selling for $9,969.90 and 1.249 percent for a six- month bill selling for $9,938.10.

In a separate report, the Federal Reserve said Tuesday that the average yield for one- year constant maturity Treasury bills, the most popular index for making changes in adjustable rate mortgages, dipped to 1.46 percent last week from 1.51 percent the previous week.

Fed: Americans borrowing even more, need cash

JEANNINE AVERSA

Associated Press

WASHINGTON - Many Americans, taking advantage of falling mortgage rates, took out even bigger

loans when they refinanced their home mortgages, the Federal Reserve reported Tuesday.

Economists say extra cash coming from the nation's refinancing boom has been one of the key forces helping to keep consumers - the lifeblood of the economy - spending this year, even amid the turbulent stock market, a stagnant job market, eroding consumer confidence and worries about a possible with Iraq.

The Fed, in its quarterly loan officers survey, found that almost half of the 48 U.S. banks that responded to this question said that between 20 percent and 40 percent of customers that refinanced their home mortgages over the last six month engaged in "cash-out refinancing," meaning they increased their loan balances at the time of refinancing. The Fed surveyed a total of 55 U.S. banks.

For customers who took out bigger loans when they refinanced, about 70 percent of banks said that the typical increase was between 5 percent and 15 percent of the original outstanding balance.

And, 82 percent of the U.S. banks surveyed said that the average home price in the markets that they serve had gone up "substantially" or "somewhat" in the last 12 months.

Economists say that rising home values has been another factor supporting consumer spending this year.

"However, many banks expect these increases to moderate or partially reverse over the next 12 months," the Fed said in its survey.

Overall, the Fed said that 90 percent of U.S. banks between August and October basically kept credits standards for home mortgage loans largely unchanged. But 10 percent of U.S. banks surveyed said they had tightened lending standards on residential mortgages over the past three months, "the highest share in the past decade," the Fed said.

On the business lending front, the Fed reported that both U.S. banks and foreign banks with U.S. operations continued to tighten up on their loan approval procedures between August and October. This part of the Fed's report was based on responses from a survey of 22 foreign banks as well as the 55 U.S. banks.

"More than 80 percent of the domestic and foreign banking institutions that tightened standards or terms on (commercial and industrial) loans over the past three months voiced concern about the economic outlook," the Fed said.

On the Net:

Federal Reserve: http://www.federalreserve.gov

-------------------------------------------------------------------------------------------

Bush is considering many options to stimulate the economy

By Martin Crutsinger, Associated Press

WASHINGTON (AP) The Bush administration, concerned that the Federal Reserve is running out of room to boost growth with interest rate cuts, is examining a wide range of possible tax cuts for individuals and businesses to bolster the shaky recovery.

President Bush told U.S. Chamber of Commerce officials on Tuesday that a number of options were under consideration, participants said.

The president ''did not in any way articulate what way the wind may be blowing,'' said Bruce Josten, the chamber's executive vice president, said after the meeting.

''All he did say is, `We are examining what we have done and other steps the government has taken. We want to vet all of these, measure what result came of them and what will have the greatest impact,''' Josten said, quoting Bush.

Treasury Secretary Paul O'Neill told a separate group of business executives Tuesday that he did not believe broad-based measures would be needed but targeted stimulus proposals should be considered to help particular industries suffering the most. Outside of a few sectors, consumer demand was holding up, he said.

''When you think about broad-based intervention, I think implicit in that is the assumption that all of the sectors of our economy need some additional support,'' O'Neill told a global business forum sponsored by Fortune magazine.

However, others in the administration said broader tax relief remained very much an option, and Bush may decide to unveil new proposals during his State of the Union address in January.

Making his case for the health of much of the economy, O'Neill said sales of new and existing homes are expected to hit a record this year and auto companies will have one of their best sales ever as demand for both homes and cars have been fueled by the Federal Reserve's decision to keep interest rates at a four decade low for almost a year.

Yet some sectors are doing poorly, he said, citing the airline industry in particular. Passenger traffic is still 10 percent down from the level before last year's Sept. 11 terrorist attacks, he said.

O'Neill offered no specifics about new proposals the administration might put forward other than to say the search entailed looking for ways to ''sharpen our intervention'' to parts of the economy that needed help. He said such a move would also limit the impact of any short-term stimulus on the government's long-term budget outlook. After four years of surplus, the budget dipped back into deficit this year.

A senior administration official, speaking on condition of anonymity, said economic growth in the fourth quarter and the unemployment level would be two key determining factors on whether Bush proposes further economic stimulus. Many economists are worried that growth will slump dramatically in the current quarter, pushing unemployment higher.

To shield itself from criticism that Bush wants new tax cuts for the rich, the administration may focus further tax cuts on the middle class, such as proposing an increase in the per-child tax credit, the senior official said.

But the official said other ideas being considered included accelerating future reductions in income tax rates that were part of last year's $1.35 trillion, 10-year tax cut, and an increase in tax deductions businesses can take for new investments.

In his comments, O'Neill did not specify what type of targeted assistance, if any, the administration might consider backing.

The House is considering legislation to provide up to $1.5 billion in relief to airlines through further loan guarantees and the easing of some of the added security costs they are facing.

Airlines have projected they will lose $7 billion this year because of the added security costs and the reduction in passengers.

For the overall economy, O'Neill said he believed upcoming revisions would show the gross domestic product grew at an even stronger pace than the 3.1 percent rate initially estimated for the July-September quarter. He discounted talk of a possible double-dip recession.

''I don't find the basis for pessimism that people are expecting somehow our economy is going to fall off the cliff and go back to a zero rate of real growth,'' he said.

--------------------------------------------------------------------------------------

United Association of Equipment Leasing To Cut Overhead

by Christopher Menkin

“The move of the UAEL office was determined to be feasible when the Landlord

agreed to allow UAEL to terminate its lease. The Landlord found a new

tenant to occupy the facility without any penalty to UAEL. The savings to

UAEL will be substantial; the new lease is 2/3's per month less than the old

lease. The phones were to have been live, Azin is to handle incoming calls.

Bill Grohe is settled in his home office and continues to handle business.

“The press release by me from Jim McCommon gives some further details.

“The economic benefit to the membership should be immediate!”

Bob Fisher, CLP

CEO

B.Fisher@firerockcapital.com

##### #################################

OAKLAND, CA (Nov.7) – The United Association of Equipment Leasing announced today it will move its headquarters office from Oakland to the Palm

Springs, CA area, December 1, 2002.

"Rents in the East Bay area were just getting too high," said the

Association's 2002 President, Bob Fisher, CLP. "The economic resurgence of

Oakland has driven commercial real estate prices to levels more appropriate

for global corporations than for non-profit professional associations such

as UAEL. We're very concerned about making sure our members get the

greatest value for each dollar they invest in Association dues."

Fisher said today's decision to move is the culmination of a

headquarters-relocation study first proposed almost three years ago. He

said the move will not affect staff assignments. Joe Woodley, CLP, will

remain Executive Director and Bill Grohe will continue as Director of

Membership. E-mail addresses will remain the same, and existing phone

numbers will continue to function and forward calls to the new location

until further notice.

"UAEL exists to further the commercial success, personal aspirations and

professional qualification of its members, and to provide an interactive

forum that enhances the members' ability to pursue business opportunities,"

Fisher said. "The move to Palm Springs supports all of those objectives by

freeing up substantial amounts of cash that can now be re-directed into

programs that add value to our members' business efforts and professional

skills."

UAEL was formed in 1974 to serve independent leasing companies. For

additional information contact Jim McCommon at jmccommon@uael.org or

address the UAEL website www.uael.org.

########## ###########################

The current staff:

Joe Woodley

Chief Executive Officer / jwoodley@uael.org

510-444-9235 ext. 27

Bill Grohe

Director of Membership and Marketing / bill@uael.org

510-444-9235 ext. 26

Azin Massoudi

Executive Assistant / azin@uael.org

510-444-9235 ext. 22

No mention was made regarding Azin Massoudi and the WAEL telephone

number in Oakland did not answer all Tuesday.

From President-elect Bette Kerhoulas:

“Hope you're having a wonderful day here in beautiful California. It's so

clean and gorgeous down here in Orange County - we had quite a rain last

Friday and Saturday - just what the doctor ordered - and now it's sunny and

warm and I'm thankful to be a Californian...

“You're correct that the phone lines have been down today at the UAEL office.

They're in a transition stage where the lines were to be forwarded - there

wasn't supposed to be any "down time", but things don't always work as

planned.

“We're excited about UAEL in 2003. We'll be looking to you to help us get

the word out to our membership about upcoming events, educational offerings,

networking, member services, etc...

Your continued involvement with UAEL is greatly appreciated...

“Call me anytime - I'd love to chat about any issues you feel are pertinent

to UAEL in 2003...”

Bette Kerhoulas, CLP

Managing Director

800-800-8081, 949-727-3711 Ext. 227, 949-727-3722 Fax

bettek@pacifica-capital.com

Please visit our web site at www.pacifica-capital.com

http://www.pacifica-capital.com

Bette Kerhoulas at one time was not in favor of the move, as of July 3,2002:

“As far as moving the office, we just renewed our lease with the landlord

last year, so I don't know if it's financially feasible to move at this

time. I'm sure Joe (Woodley) will look into subleasing our space out, if he feels

that's an option and the best course of action. Joe and his wife now live

close to the office (it's way too hot in Palm Springs at this time of the

year), so at least for now he's not commuting on a weekly basis. And I

certainly would love UAEL to be around the corner from me down here in

Irvine, but we can't be moving the office on a yearly basis just to

accommodate the incoming President.”

---

The original move to the present office was at the behest of Jon Bedernick, who

lived on a boat in the marina near Jack London Square in Oakland, California. Ironically, the last re-print while the editor was on vacation was about Jon Bedernick, with pictures of the staff at that time.

http://www.leasingnews.org/archives/Nobember_2002/11-12-02.htm

Dr. Ray Williams, who followed him, lived with his wife Trish in Alameda,

not far from the office. Joan Dalton, who followed Ray was planning to move

the office to South San Francisco, California, to be closer to where she

lived, plus for lower rent. June 26,2002 she resigned. The story was

covered in this edition:

http://www.leasingnews.org/archives/June2002/6-26-2002.htm

Here is the introduction of Dr. Williams to the membership via Newsline Winter, 1993(please note some of his comments: "WAEL is a home for small-to- medium-ticket equipment leasing professionals:"

http://www.leasingnews.org/stories/WAEL_new_EVP.htm

Here is a story written for Newsline about the formation of WAEL, its

history and purpose, by the first executive director, Art Schwartz, CAE, June, 1985:

http://www.leasingnews.org/stories/history_of_wael.htm

----------------------------------------------------------------------------------

Bank of the West Acquires Trinity Capital

It's Official (We reported October 18,2002)

## ##########################################

San Francisco -- San Francisco-based Bank of the West announced

it has acquired Trinity Capital Corporation, a privately held equipment leasing company. Trinity originates commercial equipment leases, has a portfolio of approximately $160 million

Trinity Capital will become a wholly-owned subsidiary of Bank of the West and operate under its existing name. The price of the acquisition was not disclosed.

"Trinity's leasing expertise and lease servicing capacity will enhance our ability to serve our existing commercial customers," said Don J. McGrath, Bank of the West President and CEO. "In addition, our 300-branch distribution network provides a platform for significant growth for Trinity."

"This acquisition underscores Bank of the West's commitment to equipment leasing as a core product line," said Jerry Newell, Bank of the West's Equipment Leasing manager. Bank of the West has a current portfolio of over $400 million in leases originated through its branch system and a nationwide network of brokers.

The Bank will continue to grow its two existing leasing businesses, Newell added, and the addition of Trinity Capital's vendor sourced.

Trinity Capital Acquisition leases will further expand the scope of the bank's equipment leasing product line. "Bank of the West will now originate leases through three distinct channels - brokers, direct sales and Trinity -- each with positive growth dynamics," said Newell.

"These businesses will be supported with the expanded servicing capabilities acquired through Trinity."

"Partnering with Bank of the West will allow us to expand our offerings to the industries we serve and will also contribute significantly to the success of Bank of the West," said Jim Halow, President of Trinity Capital. Trinity owners Jim and Donna Halow will continue in their executive positions. No staff reductions are planned. Trinity Capital Corporation was launched in San Francisco by the Halows in 1980, and specializes in nationwide vendor leasing programs for manufacturers in specific vertical markets

About Bank of the West

The third-ranked commercial bank headquartered in California, Bank of the West serves 1.5 million retail and commercial customers in six states, as well as through such national specialty business lines as equipment leasing, religious institution lending and SBA lending. With nearly 300 branches in California, Oregon, Washington, Idaho, Nevada and New Mexico, $25.7 billion asset Bank of the West is a subsidiary of BancWest Corporation, a unit of Paris-based BNP Paribas, France's largest listed bank.

### ### #####################

On the 19^th of October, we reported this( and then followed on October 22,

with a statement verifying all this from Jerry Newell

“Jerry Newell: Bank of the West/Trinity Capital $180M R+ $900M Management”

http://www.leasingnews.org/archives/October2002/10-22-2002.htm#jerry).

Bank of the West spokesman said the Trinity Capital operation will remain in tact in San Francisco. The purpose is to coordinate and take over operations of the banks expansion into the East Coast and new branches in Southern California. The Bank of West spokesman could not comment on the merging of the CapitalStream operation or sales/vendor team at Trinity.

"As you know, I started the Equipment Leasing group for Central Bank, formerly Cenval, & now Bank Of The West in 1972. Because Cenval had several branches in 11 Western States, we did hire some direct sales people in my Division to work out of 4 of these offices.

" While our primary emphasis was, and still is, Broker business, we felt it necessary to serve the Bank's clients as well. I had a very firm policy that if any of our sales people "bumped heads" with one of our Brokers on a particular deal, we would defer to the Broker.

" This policy worked great and I do not recall that we ever had a problem. We also did not allow the Bank or any other departments to have access to our customer base as we always considered the Broker as our customer.".

Russ Rickards (Retired)

Headquartered in San Francisco, Trinity Capital has provided equipment financing to small and medium-sized businesses throughout the U.S. for over 20 years. Trinity's lease management services are recognized as the best in the industry. heir portfolio is reported in excellent shape, employee morale is very high, and the company is very successful, according to insiders.

JAMES HALOW, President and C.E.O.

An alumnus of U. S. Leasing and Stanford Business School, Jim formed Trinity in 1981. He focuses on b0usiness development, industry relations and maintenance of Trinity's high standards and reputation.

jhalow@trinitycapital.com

DONNA HALOW, Executive Vice President and General Manager Donna left a management position at Levi Strauss to join Trinity in 1982. She has an MBA from the University of Washington and previously worked in Finance at Ford Motor Company. She manages major client relationships and oversees the Company's operations. Her staff creates the excellence for which Trinity is known.

dhalow@trinitycapital.com

Sales and Marketing Team

Nick Gibbens

Vice President, Sales

Phone (800) 841-4433, ext. 140

Fax (415) 956-5187

ngibbens@trinitycapital.com

James Elwood

Director of Business Development

Phone (800) 841-4433, ext. 152

Fax (415) 956-5187

jelwood@trinitycapital.com

Anne Rodriguez

National Accounts Manager

Phone (800) 841-4433, ext. 104

Fax (415) 956-5187

arodriguez@trinitycapital.com

Bob Shafer

National Accounts Manager

Phone (888) 742-8230

Fax (310) 542-5883

rshafer@trinitycapital.com

Chris Woolson

National Accounts Manager

Phone (800) 841-4433, ext. 122

Fax (415) 956-5187

cwoolson@trinitycapital.com

Dave Johnson

National Accounts Manager

Phone (800) 841-4433, ext. 194

Fax (415) 956-5187

djohnson@trinitycapital.com

Ed Beitenman

National Accounts Manager

Phone (800) 841-4433, ext. 103

Fax (415) 956-5187

ebeitenman@trinitycapital.com

Ernest Leal

National Accounts Manager

Phone (877) 900-8666

Fax (310) 793-2320

eleal@trinitycapital.com

Kelly Karcher

National Accounts Manager

Phone (800) 841-4433, ext. 157

Fax (415) 956-5187

kkarcher@trinitycapital.com

Mark Johnson

National Accounts Manager

Phone (800) 841-4433, ext. 119

Fax (415) 956-5187

mjohnson@trinitycapital.com

Tracy Fu

Account Manager

Phone (800) 841-4433, ext. 207

Fax (415) 956-5187

tfu@trinitycapital.com

Heather Isaacs

Sales Associate

Phone (800) 841-4433, ext. 131

Fax (415) 956-5187

hisaacs@trinitycapital.com

Brad Boler

Sales Associate

Phone (800) 841-4433, ext. 129

Fax (415) 956-5187

bboler@trinitycapital.com

Katherine Utsumi

Marketing Coordinator

Phone (800) 892-8910, x222

Fax (800) 878-7207

kutsumi@trinitycapital.com

Trina Van der Poll

Designer/Marketing

Phone (800) 841-4433, ext. 171

Fax (415) 358-5525

tvanderpoll@trinitycapital.com

Sandy McKenzie,

Supervisor, Vendor Services

smckenzie@trinitycapital.com

-------------------------------------------------------------------------------------------------

Menkin was on Vacation—Letters and Brief Response

Please start resending your newsletter to fleisherr@callmykate.com. For some

reason I am not receiving it. I miss it with my coffee.

Thank you and Thank you for the letter it is a great source of information.

Richanrd Fleisher

fleisherr@callmykate.com

My e-mail address is srobbins@tigerleasing.com

I have not been receiving your newsletters this past week. Please make sure

my address is still on your e-mail list. Thank You

Thanks,

Steve Robbins

____________________________

Tiger Leasing, LLC

157 Chambers Street, 10th floor

New York, NY 10007

Tel: (212) 791-2250

Fax: (212) 791-2199

Cell: (917) 887-1995

www.tigerleasing.com

I've been busy (thank goodness, although it's luck and not an indication

that our industry is turning around) and didn't realize till I checked

today, that the last time I received a newsletter was Nov 4th.

Hope you are okay.

Helene

Executive Solutions For Leasing and Finance, Inc.

Helene G. Kugit

10 Timberdale Drive Holmdel, NJ 07733

732.332.1524 Fax: 732.332.1525

helenekugit@exsolutions.com http://www.exsolutions.com

(The November 4^th edition had an announcement Kit Menkin

would be on vacation. editor )

You always catch me when I scan instead of reading line by line.

Hope you enjoyed your vacation.

Executive Solutions For Leasing and Finance, Inc.

Helene G. Kugit

10 Timberdale Drive Holmdel, NJ 07733

732.332.1524 Fax: 732.332.1525

helenekugit@exsolutions.com http://www.exsolutions.com

Hate to bother you, but I have not received your publication since Monday. Hope you can fix the problem.

Sincerely,

Mike Meyerring

Vice President

Concise Leasing Corp.

concise2@hotmail.com

Have you been sending it out or did I just miss it? OR, worse

yet, did you remove me from your list?

Thanks

Michael Losey

e-leasing@mindspring.com

---

Has the e-mail version been suspended during Kit's absence? I have not received an e-mail ,

Raymond Dusch

raymond.dusch@srz.com

(This vacation I promised Sue I would not take my laptop. www.leasingnews.org

had reprints of popular articles and series from the past two and a half years, and no e-mail edition. New York was great as were “Hair Spray,” “ Moving Out,” and

Mama Mia,” as well as eating at Daniel’s, ESCA, Club 21, River Cafe and views of the city from the Brooklyn promenade....the World Trade Center crater was

larger and more serious than we saw on TV, especially the surrounding buildings.

People were very, very nice everywhere, but I must admit we enjoyed Boston

better, with the beautiful surroundings, buildings, great restaurants, including

Saracento in the North End, eight tables, very small,,and Billy Joel was in the corner having lunch with a young blonde ( she called him “Bill.”) We spoke to him. Great person and wanted to hear our opinions of his play which opened two weeks ago( I cried four times ), he said it was his favorite Italian restaurant (food was outstanding), but t the highlight was the commissioning of my son’s ship, the USS Preble, over 10,000, TV, Senator Kennedy, Walter Cronkite were among the speakers, and a private tour of the first of its kind destroyer, after everyone left---my son took us from the bridge to the propeller shaft and all over, up and down so often, so complicated, so impressive, he is the chief electrician repair officer, knowing every part of the ship and everyone likes him a lot as we met many of his shipmates--- and we spent two days, private tour by a great driver and historian---loved Boston!!! Would be very surprised if the 2004 Democratic convention is not held here. Kit)

Mike Graneri---Please Call Home

kitmenkin@leasingnews.org

Wednesday---Odds and Ends

Needs computers

Can you help me to find off-leasing computers? I need to buy complete container loads of used computers for my company. Thank you for your help.

PCS Technology, Inc

Peter Pan

info@pcscomps.com

---

Business Leasing News for November 2002 is now available at

http://www.pblaw.com/Newsletters/Bln/Release/bln_2002_11.htm

As you would expect, I have commented on the 41st Annual ELA Convention and

included an article on Rudolf Giuliani's key note speech on leadership.

This issue includes other articles on:

*the FASB's work affecting the meaning of a special purpose entity

(SPE);

*the credit crisis in the electricity industry;

*deal opportunities despite falling capital expenditures; and

much more. The section called "BLN Briefs" also appears in this issue to

hit highlights involving:

*financing of intellectual property;

*a new exemption for small aircraft operators; and

*an update on the federal backstop for terrorism insurance.

I hope all is well. Thanks for your interest in BLN. Keep up the good work

on your site.

David

David G. Mayer

Patton Boggs LLP

2001 Ross Avenue

Suite 3000

Dallas, Texas 75201

Tel: (214) 758-1545

Fax: (214) 758-1550

Author of: Business Leasing For Dummies

Publisher of: Business Leasing News

---

November 14^th—last of the free “Help Wanted”

Here is our first paid Help Wanted----

Sales: National: 7 offices Medical & IT/ plus.

Seeking professionals w/solid book of business

& high ethics. Exceptional support &

commissions. Expenses paid. 616-59-6800

Email: gsaulter@chaseindustries.com UAEL

---

Mike Cingari Back in Business

Crosswater Capital works with Sovereign Leasing direct as a broker.

He is also doing deals with GE. Also he is doing deals with GE. He is only working on large mid ticket deals.

(name with held )

For current stories: http://www.leasingnews.org/Conscious-Top%20Stories/MSM_stories.htm

Please send to a colleague as we are trying to build our readership. We are free.

---------------------------------------------------------------------------------------------------

Monitor Launches New Publication - ABF Journal

The publisher and editor of the Monitor are pleased to announce the launch of ABF Journal, a sister publication to the Monitor. ABF Journal is a monthly publication dedicated to the asset-based lending industry with the commitment to provide industry professionals with timely articles, industry news and information and job opportunities directly related to the asset-based lending sector. In addition, the publication will provide monthly columns focused on deal structures, factoring, turnaround management and legal issues provided by leaders in their respective fields.

With the most comprehensive subscriber list in the industry, ABF Journal will reach 30,000 asset-based lending professionals, many of whom are members of the major industry associations including: CFA, TMA, NFA, IFA and NAELB.

"We're so excited about the introduction of ABF Journal. We've included an ABL supplement in every issue of the Monitor this year, a pull-out we called 'Specialty Lending'. And it received such an tremendous response, we decided to give it a publication of its own!" said Lisa Rafter, Editor of the Monitor and ABF Journal.

ABF Journal will premier at the Commercial Finance Association's 58th Annual Convention in Atlanta on November 6.The inaugural issue of ABF Journal is an exciting 76 page full color magazine brimming with articles, industry news, an ABL deal chart and much more! We're offering a free limited time subscription, to subscribe to ABF Journal, (click here) or call 800-456-2570.

( courtesy of monitordaily.com )

------------------------------------------------------------------------------------

Holiday jobs may be hard to find this year

By Thomas Lee

Of the St. Louis Post-Dispatch

'Tis the season for holiday hiring. Well, maybe next year.

With the economy struggling and consumer confidence at a nine-year low, retailers here and nationwide are opting for a conservative, wait-and-see approach to holiday staffing needs, experts say.

Wary of several recent analysts' reports predicting gloomy holiday sales, retailers are hiring seasonal workers at levels similar to or slightly lower than last year.

The situation stands in stark contrast to just two years ago, when a booming economy and low unemployment rates sent retailers scrambling to recruit workers just as the industry's biggest shopping season was about to begin.

"This is definitely an employer's market," said John Challenger, chief executive of Challenger, Gray & Christmas Inc., an outplacement firm in Chicago. "Retailers are hiring a little bit less than last year. Seasonal hires typically make up a third of holiday staffing. But retailers are being very cautious because of the overall sluggishness of the economy."

Michael P. Niemira, a senior retail analyst for Bank of Tokyo-Mitsubishi Ltd., said he predicts same-store sales - which compare sales for stores open at least a year - to increase 2 percent to 3.75 percent this season.

Analysts expect department stores in particular to fare poorly, as more shoppers flock to large discount stores, such as Wal-Mart Stores Inc. and Target Corp.

Earlier this month, May Department Stores Co., the St. Louis-based retailer that operates several chains, including Famous-Barr, Filene's and Lord & Taylor, said its same-store sales in October fell 7.1 percent. Third-quarter sales dropped 4.1 percent to $3.05 billion compared with $3.15 billion in the same period a year ago.

As a result, May said Monday, it earned 5 cents a share for the third quarter, missing Wall Street estimates of 17 cents a share. That included costs associated with division combinations and early debt redemptions, the company said.

Retailers nationwide are expected to add 400,000 retail jobs this season, a 1.6 percent increase over the previous year, according to the National Retail Federation, an industry trade group in Washington.

Helen Weiss, a spokeswoman for Famous-Barr in St. Louis, said the chain, which held a series of job fairs last week, expects to hire roughly the same number of holiday workers as last year. She declined to release the number.

College students and people seeking second jobs typically make up the bulk of seasonal hires, people hoping to earn a little extra money for Christmas and to take advantage of employee discounts, Weiss said.

Just two years ago, Famous-Barr executives, desperate to recruit and retain workers, increased pay for full-time employees throughout the year at various locations and offered a $200 signing bonus at the end of 90 days for permanent staff at its store in Chesterfield Mall.

This year, Weiss said, the Chesterfield store still needs holiday hires, but mostly to work night shifts.

The days of perks and bonuses are long gone, Challenger said. Retailers can afford to be picky about their hires, he said, because they have a much wider labor pool from which to draw.

For September, the most recent data available, the unemployment rate in St. Louis County stood at 4.9 percent compared with 4.1 percent for that month in 2000 and 3.5 percent in 1999, said Randall Clark, a labor-market analyst for the Economic Research and Information Center at the Missouri Department of Economic Development.

Retail employment typically increases in the fourth quarter as a result of seasonal hiring. The number of new retail jobs in St. Louis between September and December fell to 7,000 last year, down from 9,200 in 2000 and 11,800 in 1999.

So far, "hiring has been a little slower than usual this year," Clark said.

Wal-Mart, based in Bentonville, Ark., will hire 400 to 450 workers from Nov. 1 to the end of the year for 12 stores, including two Supercenters, that it considers to be in the greater St. Louis region, said Ian Dezalia, a company spokesman. That number is not out of the ordinary, he said.

Clark said Wal-Mart always staffs its stores well throughout the year.

Dillard's Inc., a department-store chain based in Little Rock, Ark., mostly offers additional shifts to part-time employees instead of hiring seasonal workers, said Mark Gastman, vice-president of marketing and sales promotion at the regional office in Crestwood.

Such a tactic allows companies to save time and money, because they devote fewer resources to recruiting and training holiday hires, Challenger said.

People hoping to get holiday jobs at the region's newest department store at West County Center in Des Peres also might be out of luck. Nordstrom hired enough workers when it opened that store in September to carry it through the holiday season, said Manager Jason Price.

Nevertheless, there still might be opportunities for people interested in seasonal work, experts say. Retailers and distributors will need extra help this year clearing inventories that piled up during a labor dispute that closed West Coast shipping ports for 10 days last month, said Michael Collins, vice-president for Bain & Co. Inc., a consulting firm based in Boston.

And if retails sales suddenly pick up, there would be increased demand for seasonal workers, Clark said. Whether it's procrastination or simply wanting to find the best bargains, shoppers in recent years have waited later to make holiday purchases, he said.

After the terrorist attacks of Sept. 11 last year, the National Retail Federation lowered its estimate of holiday same-store sales increases to 2.5 percent from 5 percent. But thanks to a last-minute flurry of shopping, holiday sales actually finished up 5.6 percent for 2001.

This year, same-store sales in October rose a surprising 3 percent, beating the Thomson First Call consensus estimate of 2.1 percent. Because of the early arrival of cold weather, same-store sales from apparel retailers jumped 7.6 percent, well ahead of analysts' estimates of 1.8 percent, said Ken Perkins,, an analyst with the Investment Management Group at Thomson First Call in Boston.

Because of the industry's unpredictability, most retailers would rather be safe than sorry when it comes to holiday hiring, said Ellen Tolley, a spokeswoman for the National Retail Federation.

For retailers, she said, "the worst thing that could happen is not having enough staff to take care of customers."

Reporter Thomas Lee:

E-mail: tlee@post-dispatch.com

Phone: 314-340-8209

Fewer ships idled at ports along coast-Gripes Continue

By Dean Calbreath

SAN DIEGO UNION-TRIBUNE STAFF WRITER

A month after shippers ended their lockout of workers at ports along the West Coast, the long lines of ships waiting to unload cargo have largely disappeared.

At the peak of the lockout, almost 200 ships were idled between San Diego and Seattle. Now, those lines are nearly gone – although some problems remain.

Some docks, particularly in Los Angeles and Long Beach, remain overcrowded because there is a shortage of trucks and trains to carry cargo to final destinations.

As a result, retailers still have cause to worry that their shelves may not be full at the peak of the Christmas season.

And the lines of waiting ships have shrunk partly because fewer ships are arriving from abroad. The ports of Los Angeles and Long Beach, for instance, are now receiving an average of 31/2 new container ships a day, less than half their normal daily average of eight ships.

"The big question is why are fewer ships stopping here," said Steven Erie, a University of California San Diego professor who recently completed a book about West Coast ports.

"Is this just a temporary situation, reflecting the end of the Christmas shipping rush and the disruption caused to shipping schedules in Asia? Or does it reflect long-term choices to ship goods around the Cape of Good Hope or through the Suez Canal?" he asked.

Erie said that if the decline in the backlog does reflect a long-term trend – encouraging Asian shippers to send their goods to the East Coast rather than the West Coast – it could mean that both the shipping companies and the dockworkers union may have put their future well- being at risk.

But port authorities say the number of shipments could go back to normal once the supply chain works out the kinks caused by the 10- day lockout.

A labor dispute at the ports erupted into a nationwide crisis in late September after the Pacific Maritime Association – representing shipping and stevedore companies from San Diego to Seattle – locked out the International Longshore and Warehouse Union, which represents 10,500 workers along the coast. The lockout capped months of wrangling over a contract that expired in June.

The shippers were forced to reopen the ports on Oct. 9, when the Bush administration invoked the Taft-Hartley Act. But the friction between union and management continues.

Just two weeks ago, the PMA filed a complaint with the Justice Department charging that union workers were intentionally slowing down the ports in order to gain concessions on the contract. The union, in response, accused the shippers of mucking up the situation by mismanaging how cargo was being offloaded at the ports.

Both charges may be moot now that the port situation appears to be returning to normal.

"Isn't that an irony?" said Erie. "We thought there would be too much work and too much overtime for the dockworkers, and now it looks like there might be fewer jobs available for people coming into the union hiring halls."

In San Diego, dockworkers estimate that the port – which once had a backlog of nine ships – will be back to normal by Thursday.

As at other ports, one of the chief reasons why the backlog has dissolved is that a number of ships were diverted to other ports. Six export shipments of avocados were sent to Los Angeles and Port Hueneme, near Santa Barbara, while four automobile import shipments were sent to Portland, Ore.

"We're still catching up with the work," said Manuel Frias, president of the dockworkers local. "We have a couple of auto shipments waiting to be unloaded and a ship full of fertilizer. And there's a shipload of Dole bananas from Ecuador coming in on Thursday. But we're almost back to normal."

Retailers report little improvement thus far in getting goods they ordered from Asia, said J. Craig Shearman, spokesman for the National Retail Federation. Many retailers have been worried about running short on products during the holiday.

''If we've moved it from the ship to the dock, we've got to get it from the dock to the shelf,'' he said. ''From what we've been hearing from retailers, merchandise is still trickling into the stores very slowly.''

The hardest-hit products have been toys, electronics, shoes, clothing, and housewares, Shearman said. Ninety to 95 percent of toys and more than 50 percent of electronics sold in the United States are made in Asia, he said. More than 40 percent of shoes sold here are imported from China.

Truck traffic at the ports is still snarled, although Union Pacific reports train traffic continues to steadily improve.

Meanwhile, a federal mediator has called both sides back to the bargaining table Wednesday after a weeklong break from negotiations. A tentative agreement was reached this month on the issue of technology, but pension, wages and the union's arbitration system remain unsettled.

Can You Believe This???

The judge modified Kozlowski's bail restrictions so he could visit Colorado for four weeks – from Dec. 20 to Jan. 15. Kozlowski owns three properties near Vail in Eagle County, including a 17-room mansion, a ski resort condominium, and an undeveloped lot.

By Samuel Maull

ASSOCIATED PRESS

NEW YORK – A judge set a trial date of no later than June 1 for Dennis Kozlowski, the former Tyco International Inc. boss charged with stealing up to $600 million, and gave him permission to take a four- week holiday trip to his estates in Colorado's ski country.

State Supreme Court Justice Michael Obus set the tentative trial date Tuesday for Kozlowski and Mark Swartz, Tyco's former chief financial officer, while working out schedules for motions and for exchange of materials between the defense and prosecution.

Kozlowski, 55, and Swartz, 41, have been indicted on larceny and related charges in connection with the alleged theft of $600 million from Tyco.

Both defendants have pleaded innocent. Kozlowski is free on $100 million bail and Swartz is out on $50 million bail.

Over objections from the prosecution, the judge modified Kozlowski's bail restrictions so he could visit Colorado for four weeks – from Dec. 20 to Jan. 15. Kozlowski owns three properties near Vail in Eagle County, including a 17-room mansion, a ski resort condominium, and an undeveloped lot.

"Mr. Kozlowski does not want to miss the Christmas holidays. People who invested in Tyco stock may not be able to afford a Christmas," said John Moscow, the assistant district attorney in charge of the case.

"I'm not here to punish them – at this point," the judge responded.

Obus also said Swartz could travel to California to spend the holidays with his in-laws. The judge, noting that the in-laws posted a large part of the security for Swartz' bail, said it was appropriate for him to visit them during the holidays.

Obus scheduled the next court date for Feb. 7.

Tyco, which is based in Bermuda, with U.S. offices in Exeter, N.H., has been under fire from shareholders and regulators over charges of improper payments to top executives.

Kozlowski resigned in June before he was indicted on charges of evading New York sales taxes.

Kozlowski also has been charged by the Securities and Exchange Commission with taking $242 million in loans from a program meant to help Tyco employees buy company shares.

Former corporate counsel Mark Belnick also has pleaded innocent to charges that he falsified business records to cover up $14 million in improper loans.

Several directors have resigned, amid accusations they knew what Kozlowski was doing and that they also benefited from improper payments.

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CSI Acquires German IT Lessor

Creve Coeur-based Computer Sales International, Inc. (CSI) announced that it has entered into a binding agreement to acquire Panthus Leasing GmbH, headquartered in Frankfurt, Germany. CSI has already completed its due diligence investigation and the purchase is expected to close this week. Terms of the transaction were not disclosed.

Like CSI, Panthus specializes in the leasing of information technology equipment to large businesses. Panthus, formerly known as Universal Computer Leasing, has been in the leasing business for over 20 years, employing 29 people with offices in Berlin as well as Frankfurt. In 2000, Panthus was purchased by a large German computer distributor m+s Elektronik AG. But early this year m+s was declared insolvent and was forced to put its subsidiaries up for sale.

"We look upon this as a unique opportunity to enter the German market with an experienced administrative and sales team and a sizeable portfolio of leases with a high-quality customer base," announced Steve Hamilton, CSI's Executive Vice President and Director of Acquisitions and International Operations. Hamilton also noted that, "Germany is the largest IT market in Europe, accounting for roughly 33% of all IT spending in the European Union, and many of CSI's US-based customers have operations there, so we believe this is a good fit and will provide a new growth opportunity for CSI." Panthus will do business under the new name CSI Leasing Deutschland GmbH.

CSI is one of the largest independent computer leasing specialists in the world, with 33 sales offices in the US, Canada, Mexico, Costa Rica, and the United Kingdom generating annual revenues in excess of $500,000,000. More information on CSI is available at www.csileasing.com.

Steve Hamilton

314-997-7010

steve.hamilton@csileasing.com

# # # ###########################################

Diversity Capital LLC has added a new Director

John Dale has joined Diversity Capital LLC, Cinnaminson, NJ as Managing Director, focusing on securitization and liquidity products. John has over 20 years experience in the commercial and consumer finance markets, working with Prudential Mortgage, CoreStates Capital Markets, and National City Bank. John has funded over $5 billion through private placements, commercial paper facilities and other liquidity products. Diversity Capital LLC is an advisory firm that focuses on specialty finance companies providing a variety of debt products, including both rated and unrated transactions. Diversity has raised over $500 million in credit facilities for a variety of clients over the last three years including asset backed commercial paper, term transactions and term UNL placements. Information on Diversity can be located at www.divcapital.com or call 856.303.8100.

############## ########################################

INFOLEASE™/AMERICAN LEASE INSURANCE INTEGRATION COMPLETED BY NORTHERN CONSULTING.

CHICAGO, IL - Northern Consulting has integrated American Lease Insurance (ALI) programs with International Decision System's (IDS) InfoLease™ software. InfoLease™ is one of the most widely-used lease accounting, portfolio management and asset tracking software systems currently in use in the leasing industry.

According to Northern Consulting Managing Director Cameron Krueger, "We've programmed robust two-way data exchange between ALI and Infolease™ to enable the ALI program to operate automatically. Users deal with one system only - accessing all the information they need through InfoLease™ - fast. This interface is a great competitive advantage for ALI because it requires almost no interaction on the part of the lessor. Now, any user of InfoLease™ can take advantage of ALI's program benefits through this seamless integration."

ALI provides a comprehensive program of property and liability coverage on portfolios of equipment costing under $250,000, and tracks insurance coverage throughout lease terms for lessees who choose to use their own insurance. ALI's program requires no premium advances from lessors, while providing them significant additional fee income. The ALI program is now integrated with other major lease accounting software programs, including LeasePlus™, Dollar$™ and TURBO-Lease™. Thanks to superior protection and faster replacement at lower insurance charges, ALI has achieved the highest acceptance rates in the industry - which translates into higher total income for lessors.

American Lease Insurance was founded in 2000 by Steve Dinkelaker, a licensed insurance agent and broker who has specialized in insurance for equipment leasing industry since the mid 1980s. He has conceived of, implemented, and managed lease insurance programs for most of the major small-ticket leasing companies. ALI, located in Shelburne Falls, Massachusetts, one hour north of Hartford, Connecticut, is a member of the Equipment Leasing Association, the Eastern Association of Equipment Lessors, the United Association of Equipment Leasing, and the National Association of Equipment Leasing Brokers.

Northern Consulting, headquartered in Chicago and the United Kingdom, provides systems, operations and financial consulting to the global equipment leasing and finance industry, including among its clients GE Capital, Boeing Capital, and Cisco Systems Capital.

-30-

CONTACT: CAMERON KRUEGER 312-383-8700

STEVE DINKELAKER 888-521-6568 x 245

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MB Financial to Acquire South Holland Bancorp, Inc.; MB Financial To Expand Commercial, Retail, Wealth Management Presence

CHICAGO & SOUTH HOLLAND, Ill--MB Financial, Inc. (Nasdaq:MBFI), parent company of MB Financial Bank, N.A., has agreed to acquire South Holland Bancorp, Inc., pending regulatory and shareholder approvals, it was announced here today.

South Holland Bancorp is the parent company of South Holland Trust

Savings Bank (South Holland Bank) which will be merged into MB Financial Bank after the transaction is completed. MB Financial, Inc., currently has $3.8 billion in assets and South Holland Bancorp has $535 million in assets. The transaction is expected to be completed in the first quarter of 2003.

Mitchell Feiger, President and CEO of MB Financial, and Charles Waterman, CEO and Chairman of South Holland Bancorp, jointly made the announcement.

South Holland Bank is noted for its strength in serving entrepreneurial owned and managed businesses located in Chicago's south suburbs and adjacent Northwest Indiana.

MB Financial is a leader among Chicago area banks and concentrates on serving the needs of entrepreneurial middle-market businesses as well as individuals in the communities where its branches are located. MB Financial currently has 31 branches strategically located throughout the Chicago area, nine of which serve Chicago's southside and south and southwest suburbs. Customers of South Holland Bank will benefit from access to a broader range of services and an expanded network of banking facilities offered through MB Financial Bank.

South Holland Bank, founded in 1911 by Charles Waterman, grandfather of the company's current CEO and Chairman, has five offices: two in South Holland and one each in Dolton, Lemont and Tinley Park. Four generations of the Waterman family have successfully guided the bank, making it the dominant commercial bank in the south suburbs and the prominent financial institution in South Holland.

"Our business and individual customers have benefited from a very special relationship with our bank," said Dan Ward, Vice Chairman of South Holland Bank. "As far as we are concerned, it will be business as usual, only better, now that we will have the added strength and branch network of MB Financial behind us."

MB Financial will enhance its trust and wealth management services and capabilities with the addition of South Holland's Trust Department and its Vision Investment Services, Inc. subsidiary upon completion of the transaction. South Holland's trust department, with $300 million under management, provides land trusts, living trusts and employee benefit/retirement products and other important services.

Vision Investment Services is a full service broker/dealer for clients investing in brokerage and insurance products as well as providing other financial advisory and wealth management products and services. The subsidiary is a member of both the National Association of Securities Dealers (NASD) and the Securities Investor Protection Corporation (SIPC).

"We look forward to serving the customers of South Holland Bank," said Feiger. "MB Financial and its team of experienced bankers provide a high level of personal attention. Our comprehensive array of banking products and services are designed to meet the wide-ranging needs of businesses and families."

"We are anticipating a very smooth transition," Feiger added.

MB Financial has demonstrated a continuing commitment to serving South Holland and its nearby suburbs. In May 2001, MB Financial completed the acquisition of FSL Holdings, Inc., and its principal operation, First Savings & Loan Association of South Holland, located at 475 E. 162nd St.

"MB Financial is a recognized and valued member of our community and shares the same concerns for our customers as we do," added Waterman. "We each have a heritage of providing personal service that extends back more than 90 years."

MB Financial, Inc. (Nasdaq:MBFI), a Chicago-based financial holding company, is the parent of MB Financial Bank, N.A. (Illinois), Union Bank, N.A. (Oklahoma) and Abrams Centre National Bank (Texas). MB Financial has been delivering competitive, personalized service for more than 90 years to privately owned, middle-market companies as well as to individuals who live and work in the Chicago metropolitan area. The Company's website may be found at www.mbfinancial.com.

CONTACT:

MB Financial

Karen Perlman, 773/292-6292

kperlman@mbfinancial.com

ITQ/Minkus & Dunne Communications

Raymond Minkus/Stephanie Hamernik, 312/541-8787 Ext. 235

rdm@minkus-dunne.com

SOURCE: MB Financial

#### ############################################

HPSC Conference Call Today

HPSC Reports 27% Increase in Net Income in Third Quarter 2002 Results; Third Quarter volume up 34%; Diluted earnings per share rose 23%

BOSTON, Inc. (AMEX:HDR), a leading provider of financing to medical professionals, today reported a 27% increase in net income for the third quarter of 2002 ended September 30, with net income of $1.19 million compared to $937,000 in the same quarter last year. Basic earnings per share were $0.29 in the third quarter of 2002, versus $0.24 per share in the same quarter last year. On a diluted basis, earnings per share were $0.27 in the third quarter of 2002, a 23% increase over $0.22 per share reported in the prior year period. Net revenues for the third quarter of 2002 were $13.9 million, a 2% increase over net revenues of $13.6 million in the same quarter last year. At the same time, net operating expenses were $11.9 million in this year's third quarter, a reduction from net operating expenses of $12.0 million in the third quarter of 2001.

Said John W. Everets, Chairman and Chief Executive Officer, "These results are impressive and indicate that, despite the tough and volatile economic environment, our core business continues to be strong. We recently announced important new financing arrangements, with Foothill Capital Corporation, a subsidiary of Wells Fargo Bank, as well as with ING Capital LLC, as part of an expansion of our MBIA facility. These facilities provide the company with a competitive cost of funds."

He added, "We believe that we are well positioned to register further growth in the volume of our business during the fourth quarter, which historically has been our strongest quarter. As healthcare technology continues to change and improve, we are experiencing strong demand for financing from our medical professional customers."

For the first nine months of 2002, net income was $3.1 million, a 72% increase over net income of $1.8 million in the same period last year. Basic earnings per share for the first nine months of 2002 were $0.76, compared to $0.45 in last year's first nine months. On a diluted basis, earnings per share for the first nine months of 2002 were $0.71, versus $0.42 in the comparable period last year. Net operating expenses for the first nine months of 2002 were $35.1 million, a 7% reduction from net operating expenses of $37.8 million in the first three quarters of 2001.

In the third quarter of 2002, the volume of the company's new financing contract originations grew to $82.3 million, a 34% increase over the volume of $61.6 million produced in the third quarter of 2001. For the first nine months of 2002, the volume of originations increased 13% to $220.0 million from $194.5 million in the same period last year. The gross portfolio of owned and managed lease contracts and notes receivable increased to $896 million at the end of the third quarter of 2002, a 11% increase from $807 million at December 31, 2001. Unearned income was $115 million at the end of the third quarter of 2002, a 10% increase from $105 million as of December 31, 2001.

The fiscal year 2001 numbers used in this release for comparison purposes are the audited financial results of the company for the year 2001, as restated on August 14, 2002.

Conference Call

HPSC will hold a conference call and webcast to discuss these results on Wednesday, November 6, 2002 at 9 am EST. The call may be accessed by dialing 1-800-311-0799, passcode 184302. The webcast will be available at www.hpsc.com. A replay of the call will be available beginning one hour after the call is completed through noon on Wednesday November 13, 2002 and can be accessed by dialing 1-888-203-1112, passcode 184302.

About HPSC

HPSC Inc. is a leading non-bank financial services company providing leasing and financing opportunities to the medical and dental professions in all 50 states.

CONTACT:

HPSC, Inc.

John Everets, 617/720-3600

#### #############################################

----------------------------------------

CIT Changes Fiscal Year-End To December 31

LIVINGSTON, N.J., -- CIT Group Inc.

(NYSE: CIT) announced its Board of Directors has approved the change of

its fiscal year-end from September 30 to December 31.

The change returns CIT to its historical year-end, and is in-line with

other financial services companies and is consistent with the Company's annual

budget, planning and incentive compensation review processes.

The change will result in a fiscal year covering the period from

October 1, 2002 through December 31, 2002. Financial reporting for the fiscal

period from October 1, 2001 through September 30, 2002, including the filing

of CIT's Form 10K, is unaffected by this change.

About CIT Group Inc.

CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance

company, provides clients with financing and leasing products and advisory

services. Founded in 1908, CIT has nearly $50 billion in assets under

management and possesses the financial resources, industry expertise and

product knowledge to serve the needs of clients across approximately 30

industries. CIT holds leading positions in vendor financing, U.S. factoring,

equipment and transportation financing, Small Business Administration loans,

and asset-based and credit-secured lending. CIT, with its principal offices

in New York City and Livingston, New Jersey has approximately 6,000 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim. For more information, visit http://www.cit.com.

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Congress approves programs to improve cyber security

By Associated Press

WASHINGTON (AP) Congress approved $903 million in grants Tuesday to spur federal agencies, industry and universities to devote more energy to cyber security research.

''For too long, cyber security has just not been a research priority,'' said Rep. Sherwood Boehlert, R-N.Y., chairman of the House Science Committee and sponsor of the legislation. ''In an age of terrorism, such willful ignorance about cyber security has got to come to an end.''

A voice vote in the House sent the measure, already approved by the Senate, to the White House for the president's signature.

The five-year program would require the National Science Foundation and the National Institute of Standards and Technology to bring industry and academic experts together to fund new research and to help attract top researchers to the field. It also would encourage efforts to recruit new students into cyber security programs.

Senate proponents of the legislation were Sens. Ron Wyden, D-Ore., and George Allen, R-Va.

On the Net:

Information on the bill, H.R. 3394, can be found at http://thomas.loc.gov.