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ATLANTA — Along with details about its investment partner as
well as a senior debt facility, Global Lending Services, an auto finance
company founded earlier this year by industry veteran Douglas Duncan, acquired
the business of Resurgent Auto Finance, an established subprime auto loan originator. 

Officials highlighted this week's acquisition includes a $38
million loan portfolio as well as a funding and servicing platform.

"This is a very important milestone for Global Lending
Services," Duncan said.  "By making this
acquisition, we now have a platform in place that will enable us to create a
scalable sub-prime auto finance business and execute our plan to establish a
national presence in the market. 
Resurgent Auto Finance is an exceptional company.

"It has state-of-the-art technology and analytics, very
disciplined processes and many talented people," Duncan added.

Partnership with BlueMountain Capital Management

Global Lending Services also announced it has entered into a
partnership with New York-based investment firm BlueMountain Capital
Management. 

Several BlueMountain managed funds and Duncan will
collectively invest $100 million in capital. BlueMountain will have a majority
interest in the company, and Duncan will serve as chairman.

"The opportunity to partner with BlueMountain was strategic
given the significant amount of capital required in the auto finance business,"
Duncan stated. 

Global Lending Services chief executive officer Gary Lorenz
added, "With $100 million in committed capital, we are well positioned to
secure additional debt, as needed, to support our growth. 

"BlueMountain also has a deep understanding of the subprime
auto finance sector and an experienced team of professionals that will add significant
value to our business," Lorenz went on to say.

Loan Agreement with UBS Real Estate Securities

In a related matter, Global Lending Services secured a
senior debt facility with UBS Real Estate Securities for $75 million.

The UBS facility provides the foundation for our debt
program, which will scale as we grow our loan portfolio," stated Mark McCall,
Global Lending Services' chief financial officer.

"The UBS team established a facility that meets our specific
needs, and we are very excited to partner with them as we build the business,"
McCall added.