Consumer Portfolio Services

Nature of business: Purchases, sells and services automobile installment sales contracts.

Total employees: 36

In Orange County: 35

Stock listing in The Times: On NASDAQ “ConsSv”

Ticker symbol: “CPSS”

Friday’s close: $8.00

One-week change: Up $0.28

Analyst review: “Consumer Portfolio Services is creating a simple but effective interest-rate arbitrage: typically purchasing contracts bearing the maximum finance charges permitted by law (approximately 21%) with money costing 9%-10%. The recently received A-credit rating assigned to its contracts will eventually lead to lower costs. The key to its success is a stringent underwriting criteria and a highly automated collections system. It is penetrating the market faster than expected and is making a successful jump to becoming a national-level company. Given its current infastructure, the company is capable of services $300 million in istallmanet contract.

--Seth Margoshes senior analyst Whale Securities Co., New York

Revenue (Dollar amounts in millions)

1992: 1.9

1993: 2.5

1 quarter:

1993: .509

1994: 1.9

Profit

1992: --2.5

1993: --1.5

1 quarter:

1993: --.262

1994: .831

Corporate outlook: “We are pleased with the success of our first quarter, especially the ‘A’ credit rating given us during this period by Duff & Phelps. Even in a continuing recession, we have reached profitability. Our goal now is to continue to grow and expand our dealer network and contract acquisiton program. Presently, we are are operating in five states and plan to expand into 15 to 20 states in the next two years.

--Charles E. Bradley Jr., president/CEO

Return on Investment: 2-year Summary and Year-to-Date

Fiscal year ending Mar. 31, ’92 Mar. 31, ’92 1 QTR. ’93 52-week high* N/A $6.88 N/A 52-week low* N/A $4.75 N/A Book value per share $30.34 $1.50 $1.44 Price per share* N/A $5.63 N/A Net earnings (loss) N/A ($0.47) ($0.09) per share Price-to-earnings ratio N/A N/A N/A Average return on N/A N/A N/A investor equity

Fiscal year ending 1 QTR. ’94 52-week high* $6.00 52-week low* $5.25 Book value per share $1.55 Price per share* $5.38 Net earnings (loss) $0.20 per share Price-to-earnings ratio 6:1 Average return on 74% investor equity

* Consumer Portfolio Services sold 1.3 million shares of stock at its initial public offering Oct. 22, 1992; net proceeds: $4.9 million. For information, write Consmer Portfolio Services, 2 Ada, Irvine, Calif. 92718. (714) 753-6800.