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EXHIBIT 99.1
T & W FINANCIAL FILES FOR BANKRUPTCY AND PLANS LIQUIDATION
TACOMA, WASH--NOVEMBER 2, 2000--T & W FINANCIAL CORPORATION (NASDAQ: TWFCQ) (the
"Company") announced today that the Company and its operating subsidiary T & W
Financial Services Company L.L.C. had filed their respective voluntary petitions
under Chapter 11 of the United States Bankruptcy Code on October 31, 2000. The
cases are pending in the United States Bankruptcy Court for the Western District
of Washington at Seattle. The Honorable Samuel J. Steiner is assigned to these
cases and has consolidated them for administrative purposes only under Case No.
00-39007. The Bankruptcy Court is expected to assign a new case number by
November 3, 2000. The Company intends to immediately propose a plan of
liquidation.
The Company announced that Michael A. Price has resigned as a board member. The
Company announced that, effective after the bankruptcy filing, Thomas W. Price
has resigned as President; Alan M. Jacobs of AMJ Advisors LLC, Bankruptcy Court-
authorized business advisor to the Company, was appointed President; and Kenneth
W. McCarthy, Jr. was appointed Secretary.
ALL FORWARD LOOKING STATEMENTS MADE BY THE COMPANY INVOLVE MATERIAL RISKS AND
UNCERTAINTIES AND ARE SUBJECT TO CHANGE BASED ON FACTORS BEYOND THE COMPANY'S
CONTROL. ACCORDINGLY, THE COMPANY'S FUTURE PERFORMANCE AND FINANCIAL RESULTS MAY
DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED IN ANY SUCH FORWARD-LOOKING
STATEMENTS. SUCH FACTORS INCLUDE, BUT ARE NOT LIMITED TO, THOSE DESCRIBED IN THE
COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. THE COMPANY DOES
NOT UNDERTAKE TO PUBLICLY UPDATE OR REVISE ITS FORWARD-LOOKING STATEMENTS EVEN
IF EXPERIENCE OR FUTURE CHANGES MAKE IT CLEAR THAT ANY PROJECTED RESULTS
EXPRESSED OR IMPLIED THEREIN WILL NOT BE REALIZED.
CONTACT:
T & W Financial Corp. (Investor Contact)
Kenneth W. McCarthy, 253/922-5164
Bankruptcy Counsel, Marc Barreca, Preston Gates & Ellis LLP,
c/o Jeanne Martin, Paralegal, 206/467-8429
