RIFCO secures $4.5M Senior Debt line from BMO Bank of Montreal

RIFCO INC. (TSX.V: RFC) is pleased to announce that it has accepted a new $4.5M senior debt facility with BMO Bank of Montreal. The new debt facility will replace a $2.5M facility provided by another Canadian Chartered Bank.

Lance Kadatz, VP & CFO stated "We are very pleased to accept the new Bank of Montreal facility which provides improved leverage and limits with competitive pricing. This new relationship will give RIFCO the capacity & flexibility to further its penetration into its attractive market niches. Our funding strategy remains a combination of senior debt, subordinated debt and loan securitization."

About RIFCO Inc

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RIFCO Inc. (TSXV: RFC) operates through its wholly owned subsidiary Repair Industry Finance Corporation. RIFCO is a specialty consumer finance corporation. RIFCO provides Automotive & Commercial Repair Financing and Vehicle Purchase Financing to mid-market motorists.

The common shares of RIFCO INC. are traded on the TSX Venture Exchange under the symbol "RFC". NOTE: A regular commentary on the Company's activities is available by registering for the Free Insight Newsletter, issued by The Howard Group, www.howardgroupinc.com.

Certain statements contained in this press release may be considered as forward looking. Such forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.

The TSX Venture Exchange does not accept responsibility for the adequacy

or accuracy of this release

For further information: CONTACT: RIFCO INC., Lance A. Kadatz, Vice President and Chief Financial Officer, Telephone: 1-888-303-2001, Fax: 1-888-303-2181, Email: kadatz@rifco.net, Website: www.rifco.net; CONTACT: The Howard Group Inc., Grant Howard, David Gordon, Telephone: 1-888-221-0915, Fax: 1-888-237-8387, Email: info@howardgroupinc.com, Website: www.howardgroupinc.com

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