Exhibit 99.1
FOR IMMEDIATE RELEASE
FIRSTPLUS FINANCIAL GROUP, INC.
ANNOUNCES CHANGES IN MANAGEMENT OF ITS SUBSIDIARY, OLE AUTO GROUP, INC.
July 19, 2007
IRVING, Texas, /PRNewswire/ -- FIRSTPLUS Financial Group, Inc. (the "Company")
(Pink Sheets: FPFX.PK) announced today that it had reconstituted the Board of
Directors of its wholly-owned subsidiary, Ole Auto Group, Inc. The subsidiary
Board now consists of John Maxwell, Martin Ward and Kimberley Grasty. The
Company also announced that Martin Ward had been elected President and Chief
Executive Officer of Ole. The Company noted that the previous directors and
other senior members of management of Ole, including Daniel T. Phillips, were no
longer involved in its management.
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements within the meaning of the "safe
harbor" provisions under Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995. The Company
uses forward-looking statements in its description of its plans and objectives
for future operations and assumptions underlying these plans and objectives, as
well as in its expectations, assumptions, estimates and projections about the
Company's business and industry. These forward-looking statements involve risks
and uncertainties. The Company's actual results could differ materially from
those anticipated in such forward-looking statements as a result of certain
factors as more fully described in this report.
Forward-looking terminology includes the words "may", "expects", "believes",
"anticipates", "intends", "projects" or similar terms, variations of such terms
or the negative of such terms. These forward-looking statements are based upon
the Company's current expectations and are subject to factors and uncertainties
which could cause actual results to differ materially from those described in
such forward-looking statements. The Company expressly disclaims any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements contained in this report to reflect any change in its
expectations or any changes in events, conditions or circumstances on which any
forward-looking statement is based.
