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PR Newswire, Nov 1, 1999

DALLAS, Nov. 1 /PRNewswire/ -- ACE Cash Express, Inc. (Nasdaq: AACE), the nation's largest check-cashing chain and a significant provider of related retail financial services, announced that Frank A. Dudowicz has joined ACE as the new vice president and chief marketing officer. Dudowicz will direct the company's marketing strategy and implementation. Dudowicz is a seasoned marketing professional with broad experience gained at three major companies -- Scott Paper, Campbell Soup and most recently at Quaker State.

Dudowicz brings a strong consumer product focus. He has conducted in- depth consumer research and subsequent product development. Dudowicz will help ACE expand its array of retail financial services and execute targeted marketing campaigns.

ACE has also formed a communications and government relations' department lead by Eric C. Norrington, previous vice president of marketing. The new department was formed to proactively manage the complex legislative activity in the 28 states and the District of Columbia where ACE provides retail financial services. As the new vice president of communications and government relations, Norrington is responsible for corporate communications, investor relations, media relations and government relations. Norrington joined ACE in 1993, and has made significant contributions to the growth of the Company.

"This strategic transition strengthens the ACE management team and further supports our growth initiatives," said Jay B. Shipowitz, senior vice president and chief financial officer of ACE. "Frank is joining ACE at a critical time in our evolution. He will play a key role in the positioning and introduction of several new products and services such as our national payday loan product through Goleta National Bank and our Automatic Check Cashing Machine. In addition, Eric's industry expertise and six years directing ACE's marketing makes him the natural leader for the new communications and government relations department."

ACE Cash Express, Inc. is headquartered in Irving, Texas and is the largest owner, operator and franchiser of check-cashing stores in the United States. Founded in 1968, the Company currently has a network of 941 stores, consisting of 805 company-owned stores and 136 franchised stores in 28 states and the District of Columbia. ACE offers a broad range of financial and check-cashing services and is one of the largest providers of MoneyGram wire transfer transactions. In addition, ACE offers money orders, small consumer loans, bill payment services, and prepaid local and long distance telecommunication services. The Company's website is found at www.acecashexpress.com.

Safe Harbor Disclaimer:

This release may contain certain forward-looking statements regarding the Company's expected performance for future periods. Actual results for such periods may materially differ. Such forward-looking statements involve risks and uncertainties, including risks of changing market conditions in the overall economy and the industry, consumer demand, the opening of new stores, the success of the Company's acquisition strategy and other factors detailed from time to time in the Company's annual and other reports filed with the Securities and Exchange Commission.

COPYRIGHT 1999 PR Newswire Association, Inc.
COPYRIGHT 2000 Gale Group




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