Westlake Financial Announces New and Increased Credit Facility

Los Angeles, CALIFORNIA – August 20, 2008 – Westlake Financial Services announced that it has entered into a new line of credit facility with a commercial bank syndicate, led by Wells Fargo Preferred Capital.  The new facility increases its line of credit capacity from $130 million to $190 million.

“Westlake is excited about its new banking relationship with Wells Fargo and the ongoing commitment from the existing participants in the facility,” says Paul Kerwin, Chief Financial Officer.  “The increase in our facility and our current excess cash reserves will enable us to increase our product offerings to our dealers and continue our expansion.”

Ian Anderson, President, says the increased credit facility provides dealer confidence in a turbulent marketplace.  “Dealers are placing an increasing significance on lender stability and strength considering the ongoing cutbacks from their lenders,” he says.  “This announcement sends a strong message that Westlake is committed to offering dealers a full spectrum of financial products, 24/7 availability, and industry-leading service.”

To learn more about Westlake Financial, including markets served and financing products available, visit www.westlakefinancial.com.