SAN JOSE, Calif.--(BUSINESS WIRE)--Dec. 4, 1997--Leasing Solutions Inc. (NYSE:LSN), announced today that it had renewed its U.S. syndicated warehousing line of credit with CoreStates Bank, N.A., as agent, and increased availability under the line to $175 million from $155 million.

This facility will be used to finance, on an interim basis, the Company's leasing activities prior to the permanent financing of the lease transactions.

The U.S. syndicated line is led by CoreStates, with the following additional financial institutions participating: Fleet Bank, N. A., The Union Bank of California, N. A., The Sumitomo Bank of California, Wells Fargo Bank, Bank Hapoalim B.M., The First National Bank of Chicago, Harris Trust and Savings Bank, The Bank of Nova Scotia, European American Bank and The Sumitomo Bank Ltd.

"We are very pleased to have signed our U.S. syndicated warehousing line with CoreStates Bank as our agent bank," said Steven L. Yeffa, Leasing Solutions' Vice President, Finance and Chief Financial Officer. "CoreStates' history with the Company, the professionalism of their personnel and the bank's expertise in our industry will help to provide greater flexibility and financial strength in our global financing strategy," added Yeffa.Corestates is recognized as a leader in providing financing for leasing companies. Our Division is extremely proud to have become Agent Bank for an innovative and pioneering leasing company such as Leasing Solutions," stated Hugh Connelly, Corestates' Vice President in the Leasing Division. "The new credit facility gives the company additional options including financing for foreign leases. We look forward to supporting Leasing Solutions' growth for many years," added Connelly.

CoreStates Financial Corporation (NYSE:CFL), a member of the S&P 500, is the parent company of CoreStates Bank, N.A. which is a leading banking service company providing financial services to leasing companies worldwide. It has over $47 billion in assets and focuses on corporate banking, specialized lending, cash management, international trade services and investment banking.

Leasing Solutions is a full-service leasing company that specializes in leasing information processing and communications equipment, principally to large, creditworthy customers. Most leases written by the Company qualify as operating leases. Leasing Solutions has purchased over $1 billion of equipment, representing over 300,000 assets, and currently services over 600 customers.

Based in San Jose, the Company maintains regional leasing offices in the Atlanta, Boston, Chicago, Dallas, Los Angeles, New York City and San Jose metropolitan areas, as well as in Canada and the United Kingdom, France, Germany, Belgium, and the Netherlands.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties, including, without limitation, demand and competition for the Company's lease financing services and the products to be leased by the Company, the continued availability to the Company of adequate financing to support its global expansion, risks and uncertainties of doing business in Europe and Canada and other foreign countries, the ability of the Company and its vendors to recover the Company's investment in equipment through remarketing, the ability of the Company to enter into new strategic alliances and extend existing alliances, the ability of the Company to manage its growth, and other risks or uncertainties detailed in the Company's Securities and Exchange Commission filings.