Emcc Inc Acquires Finova Portfolio Services

BOSTON, MA, January 7, 2004 – EMCC, Inc., a receivables management company located in Pembroke, Massachusetts today announced they have closed on an agreement with FINOVA Capital Corporation of Scottsdale, AZ to purchase all the outstanding capital stock of FINOVA Portfolio Services (FPSI) for an undisclosed amount. FINOVA Capital Corporation is the principal operating subsidiary of The FINOVA Group Inc. (stock symbol FNVG OTC). FPSI, newly named Equiant Financial Services (Equiant), will become a wholly owned subsidiary of EMCC, Inc.

"This acquisition helps strengthen EMCC and Equiant’s competitive position both inside and outside of the United States," said Stacey Schacter, EMCC’s CEO. Equiant will remain headquartered in Scottsdale, AZ, providing portfolio services for the resort industry, including payment processing, customer service, collections, reporting, and custodial services.

“Equiant and its employees have serviced FINOVA and other lenders and developers with an emphasis on customer service,” says EMCC President, Arthur Levine. “EMCC entered into this transaction with an eye towards expansion of these services to others inside and outside of the resort industry to leverage EMCC’s core competencies in complete receivables management.

Since 1978, EMCC has been providing receivable management solutions to the credit granting community. Its products, technology, services and corporate capacity gives it the unique ability to provide innovative solutions for a broad range of clients in various industries, including the vacation ownership and resort markets. EMCC is one of the nation’s leading purchasers and servicers of receivables with offices in Boston, MA, Scottsdale, AZ Mobile, AL, Las Vegas, NV and San Diego, CA. EMCC is also the owner of Resort Management International (RMI) based in Mobile, Alabama. RMI specializes in providing collection services for the resort and timeshare industry.

For additional information visit www.emccinc.com , or for domestic resort enquiries contact Sherrie Dorsten, Senior Vice President 866-543-3622 San Diego, CA, email sdorsten@emccinc.com. International enquiries should be directed to Zaida Smith, Vice President, 800-742-3954, email zsmith@emccinc.com.