Press Releases & Bulletins
For Immediate Release

PENTECH AND MANIFEST ANNOUNCE NEW NAVIGATOR PROGRAM

Campbell, CA – January 8, 2004

Pentech Financial Services, Inc. announces the company has entered into a strategic partnership with U. S. Bancorp Manifest Funding Services.  The program, which will go by the name “Navigator”, will provide a B-C funding alternative to Manifest’s In-tandem and Partnership customers.

“The rapid consolidation of funding sources in the small ticket market has had a dramatic impact on lease originators,” said Benjamin E. Millerbis, Pentech’s President & CEO.  “Working with the Manifest broker base, we will focus on understanding and managing the credit risk, pricing for that risk, and delivering a high level of service.”  Brian Bjella, Sr. Vice President and General Manager of Manifest added:  “In essence if a transaction falls outside our credit window we can provide a convenient funding alternative with a commensurate rate structure.  The consolidation and contraction of B-C funding sources in the broker/lessor marketplace has left our customers with few alternatives.  Our partnership with Pentech helps fill that void for our customers”.

Pentech has created a new division, Pentech Funding Services, specifically to service this program. It is this division, located in San Diego, CA, that has been chartered to exclusively service the company’s strategic partnership with Manifest Funding Services.  Ron Wagner, formerly Senior Vice President of Imperial Business Credit, will manage a professional team with extensive experience dealing in this product niche.  Mr. Wagner, a former President of the United Association of Equipment Leasing (UAEL) was also Founder and President of Heritage Leasing of San Diego until its sale to Imperial Business Credit. 

About Manifest Funding Services, Inc.

Established in 1987, U.S. Bancorp Manifest Funding Services specializes in financing equipment through a network of independent finance brokers and lessors. It strives to be the premier funding source in the business equipment finance industry by emphasizing long-term relationships and innovative products that are focused on the success of the independent broker and lessor.

About Pentech Financial Services, Inc.

Founded in 1978, Pentech Financial Services specializes in providing value-added financial services tailored to the specific needs of our clients – today and tomorrow.  With offices in Silicon Valley, San Diego, Boston, and Washington, DC, it has served the equipment leasing market for more than two decades and provided well over billion dollars in debt and lease financing.

Corporate Contacts:

Benjamin E. Millerbis, President & CEO, Pentech Financial Services, Inc.   408.879.2200

 Brian Bjella, Senior Vice President and General Manager, Manifest Funding Services   507.532.7770

Press Contact:

Brad Brisbin, Vice President – Marketing, Pentech Financial Services, Inc.  408.879.2200 - brad@pentechfinancial.com

 Cindy Fleck, Director of Marketing, Manifest Funding Services   507.532.7770 - cindy.fleck@manifestfunding.com