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Thomas R. Gibson '64 Joins Board of Falcon Financial Investment Trust

Thomas R. Gibson '64 Joins Board of Falcon Financial Investment Trust

July 22, 2004

July 22, 2004, Greencastle, Ind. - Thomas R. Gibson, chairman emeritus of Asbury Automotive Group, Inc. and IKON Office Systems and a 1964 graduate of DePauw University, has been appointed to the board of trustees of Falcon Financial Investment Trust (Nasdaq: FLCN). Falcon Financial is a specialty finance real estate investment trust focused on the business of originating and servicing loans to automotive dealers.

"I am delighted to join Falcon Financial's board," Gibson says. "This company's business model fills a critical and unmet need of automotive dealerships for capital. The company's market niche makes it an ideal company for me to contribute to at the board level. I look forward to my involvement with management and the other members of the board of trustees."

A news item at Yahoo! Finance notes, "Gibson co-founded Asbury Automotive Group, Inc. (NYSE: ABG) in 1994 to acquire and manage retail automobile dealerships and currently serves as chairman emeritus. Prior to the formation of Asbury, Mr. Gibson served as President and CEO of Spectacor Management Group and as president and chief operating officer of Subaru of America. He began his career in the automobile industry in 1967 with the Ford Motor Company, holding various marketing and field management positions in the Lincoln-Mercury and Ford divisions. He holds an M.B.A. from Harvard University and an A.B. from DePauw University. Presently, Mr. Gibson serves on the board of directors of IKON Office Solutions, and Dealer Tire, a privately held tire distribution company."

"Our objective is to have a board conversant with all aspects of the automotive industry," says Vernon B. Schwartz, chairman and CEO of Falcon Financial. "The addition of Tom is consistent with that objective and we look forward to benefiting from his extensive multi-faceted expertise."

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