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Fairport, NY (December 10, 2007) – First American Equipment Finance today announced that its Chief Executive Officer, William Verhelle, was elected as Chairman of the Equipment Leasing and Finance Association (ELFA). The announcement took place in Orlando, Florida, at the 46th Annual ELFA National Convention, which was attended by more than 1,000 industry leaders.

The ELFA is the premier trade organization for over 750 member companies, including independent equipment leasing companies, captive equipment leasing companies, and commercial banks. First American Equipment Finance has been a member of the ELFA since 1996. Since then, Verhelle has held various positions of leadership in the ELFA. Previously, he was a member of the ELFA Executive Committee, chaired the ELFA Government Affairs Committee, and served on the ELFA Board of Directors from 2004 to 2007. During his address at the annual convention, Verhelle urged members to become more actively involved in the growing industry’s association. According to Monitor, Inc.’s annual industry analysis, the 100 largest firms, including First American Equipment Finance, generated new business volume of $203.5 billion in 2006, up 10.8% over the prior year. As Chairman, Verhelle will further the ELFA’s mission to provide member companies with a forum for industry development, a platform to advocate for the industry, and the principal resource for industry information and ethical standards.

During his tenure as Chairman of the ELFA, Verhelle will remain the chief executive of First American Equipment Finance, which is headquartered in Fairport, NY. Company officials are forecasting that 2007 will be a record year for new business volume. This follows 2006, a year in which the company reached new heights in business volume and was ranked on the Rochester Top 100, the annual listing of the fastest-growing private companies in the Rochester area. This was the company’s 6th appearance on the annual ranking since 2000.