IRVINE, Calif.--(BUSINESS WIRE)--Aug. 31, 2006--Consumer Portfolio Services, Inc. (Nasdaq:CPSS) announced today that it has postponed indefinitely the secondary offering of common stock held by Levine Leichtman Capital Partners II, L.P. ("LLCP"), for which a Form S-3 registration statement is currently on file with the Securities and Exchange Commission. LLCP and the Company decided to postpone the offering due to unfavorable market conditions. Charles E. Bradley, Jr., President and Chief Executive Officer, said, "CPS believes the market has overreacted to consumer credit fears, specifically in the sub-prime industry, and that the current stock price significantly undervalues the Company and potential of our business. Credit performance at CPS continues to be strong and consistent with our expectations."

About Consumer Portfolio Services, Inc.

Consumer Portfolio Services, Inc. is a specialty finance company engaged in purchasing and servicing new and used retail automobile contracts originated primarily by franchised automobile dealerships and to a lesser extent by select independent dealers of used automobiles in the United States. We serve as an alternative source of financing for dealers, facilitating sales to sub-prime customers, who have limited credit history, low income or past credit problems and who otherwise might not be able to obtain financing from traditional sources.

Important Note

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. A copy of the written prospectus for the offering of such securities may be obtained from Erica Waldow at CPS, 16355 Laguna Canyon Road, Irvine, California 92618.

CONTACT: Consumer Portfolio Services
Robert E. Riedl (Investor Contact), 949-753-6800

SOURCE: Consumer Portfolio Services