Press Release: Mego Financial Corp.
March 19, 2001
LAS VEGAS, NV -- Mego Financial Corp. (Nasdaq: MEGO) announced Friday that Leonard Toboroff has recently been elected
to the Company's Board of Directors, increasing the Board to seven members.
Mr. Toboroff, 68, has been a member of the New York Bar and a practicing attorney since 1961. He currently serves
as a Director and Vice President of Riddell Sports, Inc., a position he has held for the last 12 years. In addition,
since 1989, Mr. Toboroff has been a Vice President and Vice Chairman of the Board of Directors of Allis-Chalmers
Corporation. He has also served as a director of Engex since 1993, and a director of Hi Rise Recycling since March
1999.
Jerome J. Cohen, President of Mego Financial, commented: ``We are pleased to welcome Leonard to Mego Financial's
Board. Leonard brings to Mego Financial a wealth of business and financial expertise, integrity and leadership.
I am confident that Leonard will contribute meaningfully to the ongoing success of the Company.''
Mego Financial is a premier developer and operator of timeshare properties and a provider of consumer financing
to purchasers of timeshare interests and land parcels through its wholly owned subsidiary, Preferred Equities Corporation,
established in 1970. Mego Financial is headquartered in Las Vegas, Nevada and has properties it operates under
the banner of Ramada Vacation Suites in Nevada, New Jersey, Colorado, Florida, Hawaii and Louisiana. Mego Financial
also owns Central Nevada Utilities, serving a large portion of the fast-growing Palrump Valley, near Las Vegas.
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.
This press release contains ``forward-looking statements'' within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties or other factors
which may cause actual results, performance or achievements of Mego Financial to be materially different from any
future results, performance or achievements express or implied by such forward-looking statements. Factors that
might cause such a difference, include, but are not limited to those discussed in the Management's Discussion and
Analysis of Financial Condition and Results of Operations in Mego Financial's Annual Report on Form 10-K for the
year ended August 31, 2000, and in documents subsequently filed by Mego Financial Corp. with the Securities and
Exchange Commission.
SOURCE: Mego Financial Corp.