Business News

Western Capital Resources, Inc. Purchases Assets from STEN Corporation

2008-08-05 07:30:00

    COUNCIL BLUFFS, Iowa, Aug. 5 /EMWNews/ -- Effective July

31, 2008, Western Capital Resources, Inc. (OTC Bulletin Board: URRN), a

Minnesota corporation (the "Company"), purchased four payday loan and check

cashing operations and an on-line lending website, which included all

related assets including store level working capital, from STEN

Corporation, a Minnesota corporation, and its subsidiary, STEN Credit

Corporation. Three of the stores acquired are located in Salt Lake City,

Utah and one store is in Tempe, Arizona. The acquisition was completed

through the Company's subsidiary, WCR Acquisition Co., a Minnesota

corporation. The Company will finance this transaction out of its current

working capital and the price may be adjusted based on store profitability

as well as loans receivable collection targets.

    Christopher Larson, Chief Executive Officer of the Company, said, "We

are extremely excited about our acquisition of the assets of STEN

Corporation. We believe that this acquisition will strengthen our market

position both in Utah and Arizona and shows our commitment to growth

through acquisition. We expect to continue to focus on our product

offerings to meet customer demand and our dedication to customer service.

We believe the addition of title loans to these stores will enhance

revenues and operating revenues at these locations."

    This press release may contain forward-looking statements, including

the Company's beliefs about its business prospects and future results of

operations. These statements involve risks and uncertainties. Among the

important additional factors that could cause actual results to differ

materially from those forward-looking statements are risks associated with

the overall economic environment, the successful execution of the Company's

plan of operation, changes in the Company's anticipated earnings,

continuation of current contracts, gaming and other applicable regulations,

and other factors detailed in the Company's filings with the Securities and

Exchange Commission, including its most recent Forms 10K and 10Q. In

addition, the factors underlying Company forecasts are dynamic and subject

to change and therefore those forecasts speak only as of the date they are

given. The Company does not undertake to update any forecasts that it may

make available to the investing public.

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