GOLDEN VALLEY, Minn., June 11 /PRNewswire/ -- Sunrise International
Leasing Corporation, a wholly owned subsidiary of privately held King Capital
Corp., today announced financial results for the twelve-month period ended
December 31, 2000, and the three-month period ended March 31, 2001.
    For the year ended December 31, 2000, revenue increased 79 percent to
$160 million compared to $89 million for the previous year, and net income was
$9.4 million compared to $4.4 million.  For the first quarter ended March 31,
2001, revenue increased 56 percent to $51 million compared to $33 million for
the previous year, and net income was $3.4 million compared to $1.4 million.
    Sunrise International Leasing Corporation was a public entity until it was
merged into The King Management Corporation in June of 2000.  Following the
merger, the resultant private company was renamed Sunrise International
Leasing Corporation.  All results for the prior periods are pro-forma and
assume that the merger was completed at the beginning of calendar 2000.
    For the year and first quarter, interest expenses increased due to
increased borrowing levels and provisions for losses increased to cover
exposures to known problems and to maintain reserves to cover anticipated
future portfolio losses.  Recent interest rate decreases will have a favorable
effect on company profitability as the costs of the company's borrowings
decrease and lease rates continue at fixed levels.
    During the past year, there have been reports of loan defaults,
bankruptcies and performance problems with a number of very large leasing
companies.  Consequently, banks and other funding sources substantially
reduced or slowed down their commitments to fund the leasing industry.  This
initially negatively impacted the company's ability to obtain funding.
Despite experiencing a severe reduction in the availability of funds to
purchase equipment earlier in the year, the company was ultimately able to
accumulate $500,000,000 in both formal and informal lines of credit.  These
lines of credit are being used to service the leasing requirements of the
company's three major vendor program leasing partners, Sun Microsystems
Finance, Cisco Capital Corporation and G.E. Capital.
    "With the slowdown in the economy, the company now has excess borrowing
capacity and is actively seeking additional vendor program leasing partners,"
said Peter King, chief executive officer of King Capital.  "We also plan to
publish quarterly results and report on important events in order to maintain
its visibility in the capital markets and the leasing industry, both of which
are essential to the conduct of its business."
    King Capital Corporation, established in 1975 and based in Golden Valley,
Minn., offers a wide range of leasing options to manufacturers, distributors
and resellers through its primary subsidiary, Sunrise International Leasing
Corporation and high availability software through H.A. Technical Solutions,
LLC.

                  SUNRISE INTERNATIONAL LEASING CORPORATION
                        CONDENSED STATEMENTS OF INCOME

                           Three Months Ended              Year  Ended
                                March 31,                  December  31,
                           2001          2000           2000          1999

    Revenues           $50,826,000   $32,516,000    $159,523,000  $89,302,000

    Cost and expenses   44,435,000    30,087,000     141,836,000   81,542,000

    Income before
     provision for
     income taxes        6,391,000     2,428,000      17,687,000    7,760,000

    Provision for        3,004,000     1,023,000       ,313,000     3,369,000
    income taxes

    Net Income          $3,387,000    $1,395,000     $9,374,000    $4,391,000

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