NEWS RELEASE
CONTACT: Jayne R. Bronchetti   
Vice President, Marketing and Business Development            
(330) 528-1450, ext. 231                                                                                           

Millennium Capital and Recovery Corporation
Appoints National Sales Manager

Hudson, Ohio -- June 3, 2004 -- Millennium Capital and Recovery Corporation (MCRC), a leading innovator in providing nationwide vehicle repossession management services for banks and finance companies, has announced a top management appointment.

Rick M. O'Connell has been named National Sales Manager. In his role, Mr. O'Connell is responsible for developing new business relationships with the financial community and overseeing customer relations.  

Mr. O'Connell was previously an Account Executive for Böwe Bell + Howell for the past five years, where he earned a reputation for providing value added solutions in meeting customers needs. Prior to that, he was with Republic Technical Marketing Concepts where he held various operating and sales management positions.

"Consistent with our strategic goals, we are continuing to strengthen our management team so that we can meet the growing demand for our services and maintain our position as a leader in the industry," said President and CEO Robert J. Bronchetti. "Rick's related experience in sales to the banking industry and his understanding of our clients' needs will enable us to deliver more value to our customers," said Mr. Bronchetti.

Millennium Capital and Recovery Corporation is one of the nation's leading specialists in managing the vehicle recovery process for consumer lenders including banks, savings institutions, automotive finance lenders and credit unions. The Company provides collateral repossession services anywhere in the country through a single point of contact.   A major factor in the Company's success has been its proprietary Web-based technology, which works interactively 24/7 (real-time reporting) to complement its customers' reporting requirements related to their recovery operations. Headquartered in Hudson, Ohio, a suburb of Cleveland, MCRC is a privately held company.

For more information, please contact: Jayne R. Bronchetti, Vice President, Marketing and Business Development, at (330) 528-1450, ext. 231, or Rick M. O'Connell, National Sales Manager, at (800) 914-8761, ext. 224, or by e-mail at mcrcrick@alltel.net. Other corporate information is available at the Company's Website on the Internet at www.mcrc.biz.