NEW YORK, NY - Sixth Gear Solutions Corp., an independent auto finance company providing financing solutions to leading automotive dealerships across the United States, announced on June 3, 2008, its entry into the market with $1 billion in equity and debt financing commitments to fund its growth.

Sixth Gear uses proprietary technology and personalized service to efficiently provide dealers and drivers with an array of customized auto financing solutions, offering auto financing across all credit segments.

The management team of Sixth Gear is highly experienced in the auto finance industry, and has developed close working relationships with dealers. The co-CEOs of the company are: Michael Barrington, the former CEO of AmeriCredit Corp., a leading independent finance company specializing in auto loans; and Norman Buchan, the former President of Chase Auto Finance, a leading commercial bank auto lender.

The senior management team includes other former officers of AmeriCredit, Banco Santander, Chase, Citibank, GE, Goldman Sachs, Merrill Lynch, Volvo and Wachovia among other major companies.

Commenting on the launch, Mr. Barrington said, “We are committed to delivering unique value and outstanding service to the dealer and the driver, which will define our position in the marketplace.”

With the support of Fiserv Automotive Solutions, Fair Isaac and DealerTrack, the company has developed a state of the art technology infrastructure that will help Sixth Gear provide best-in-class service to auto dealers and customers.

“Our management team, our investors and our technology partners share our vision of bringing ease of access to an array of financing options to our dealers, and to their customers,” said Mr. Buchan.

Sixth Gear's capitalization is comprised of over $250 million in equity commitments from a group of private equity investors led by Warburg Pincus and $750 million in long-term debt facilities.

David Coulter, Chairman of the Board of Sixth Gear, said, “We look forward to working with this top notch management team to build a best-in-class auto finance platform. We think that this is the right time to capitalize on an attractive market opportunity, while other lenders are reducing their commitment to this marketplace.” Mr. Coulter is a managing director at Warburg Pincus, the global private equity firm and lead equity sponsor of Sixth Gear. He is also the former CEO of BankAmerica Corporation and Vice Chairman of JP Morgan Chase.

About Sixth Gear Solutions Corp.
Sixth Gear Solutions Corp. is an independent auto finance company providing financing solutions to select dealerships for sales of new and used vehicles in the United States. The company is headquartered in New York City with Dealer Service Centers in New York, Arizona and Texas. See http://www.sixthgear.com for more information.