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                                                                   Exhibit 99.1


                     UNICAPITAL ANNOUNCES BANKRUPTCY FILING

         MIAMI, December 11, 2000 - UniCapital Corporation (OTC Bulletin Board:
UCPC) today announced it has filed petitions for reorganization under Chapter 11
of the United States Bankruptcy Code. Chapter 11 petitions were filed on behalf
of UniCapital Corporation and substantially all of its subsidiaries, not
including certain special purpose entities related to the company's conduit and
securitization financings. The Chapter 11 cases were filed in the United States
Bankruptcy Court for the Southern District of New York. The cases were assigned
to the Honorable Judge Blackshear, Bankruptcy Judge.

         Prior to the Chapter 11 filing, UniCapital sold its lease servicing
operations to Portfolio Financial Servicing Company. Also prior to the Chapter
11 filing, UniCapital sold certain assets composing a portion of the businesses
of seven of its wholly owned operating subsidiaries. Terms of the transactions
were not disclosed.

         UniCapital Corporation has provided asset-based financing in
strategically diverse sectors of the commercial equipment leasing industry.
UniCapital has originated, acquired, sold and serviced equipment leases and
arranged structured financing in the big ticket, middle market, small ticket and
computer and telecommunications segments of the commercial equipment leasing
industry.

         Certain statements contained in this press release (including, without
limitation, statements regarding the Company's relationships with its financial
creditors and statements with respect to the circumstances of the Company during
and after bankruptcy) may be deemed to be forward-looking statements that
involve risks and uncertainties. These statements are made under the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995, and
should be read in conjunction with the risk factors set forth in the Company's
Annual Report on Form 10-K for the year ended December 31, 1999, as filed with
the Securities and Exchange Commission. Those risk factors include, among
others, limitations imposed by the Company's credit facilities, risks related to
the need for additional capital, risks related to the Company's acquisition
strategy, risks arising from the absence of combined operating history for the
Company and its subsidiaries, risks related to internal growth and operating
strategies, interest rate risks, risks related to fluctuations in quarterly
operating results, risks related to consummating securitization transactions and
other risks. In addition, the Company is subject to risks and uncertainties
incident to its bankruptcy filing, including, among others, risks relating to
the unavailability of credit or of cash at any time and from time to time, the
need to seek an obtain bankruptcy court approval of actions, and the possibility
that any plan of reorganization that may ultimately be confirmed with respect to
the Company may dilute or eliminate the equity position of the Company's current
stockholders. These risks and other factors could cause actual results to differ
materially from those expressed or implied in any forward-looking statements
contained in this press release. In addition, results may vary as a result of
factors set forth from time to time in the documents filed by the Company with
the Securities and Exchange Commission. The Company assumes no obligation to
update any forward-looking statements to reflect actual results or changes in
the factors affecting such forward-looking statements.