Portfolio Recovery Associates Contributes to American Red Cross Relief Efforts in Hait

NORFOLK, VA — Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a company that purchases, collects and manages portfolios of defaulted consumer receivables and provides a broad range of accounts receivable management and payment processing services, today announced that the Company and its employees donated approximately $64,000 to the American Red Cross to assist its relief efforts in Haiti.

After delivering a check for $64,000 to the American Red Cross of Southeastern Virginia yesterday, representing employee contributions of $32,000 and a matching corporate contribution, Chris Graves, Senior Vice President of Portfolio Recovery Associates, said, "The devastating loss of life and property in Haiti is heartbreaking. Once again, we are very proud of the charitable spirit of Portfolio Recovery Associates’ employees. Their deeds have demonstrated their sympathy for those less fortunate many times in recent years and Portfolio Recovery Associates is happy to join with them to help the American Red Cross carry out its critical relief work in Haiti."

The company, which is an active supporter of the United Way, Junior Achievement, Toys for Tots and the Food Bank of Southeastern Virginia, made a similar one-time contribution to the American Red Cross in the aftermath of Hurricane Katrina in September, 2005. Funds were raised from PRA’s offices across the country, including Fresno, CA; Las Vegas, NV; Jackson, TN; Hutchinson, KS; Houston, TX; Birmingham, AL; Norfolk, VA; and Hampton, VA.

About Portfolio Recovery Associates, Inc.
Portfolio Recovery Associates is a full-service provider of outsourced receivables management, payment processing and related services. The Company’s primary business is the purchase, collection and management of portfolios of defaulted consumer receivables. These are the unpaid obligations of individuals to credit originators, which include banks, credit unions, consumer and auto finance companies, and retail merchants. Portfolio Recovery Associates also provides a broad range of collection services, including revenue administration for government entities through its RDS and MuniServices businesses, and collateral-location services for credit originators via IGS.