Executive Change: Encore Capital Names New Chairman of the Board

Encore Capital Group, Inc., announced the appointment of Carl C. Gregory, III as Chairman of the Board. Mr. Gregory replaces Richard A. Mandell, who served as the Chairman of the Board for the last two and a half years. Mr. Mandell will remain a director.

Mr. Gregory has served as a director of Encore Capital since May 2000 and served as Vice Chairman from October 2004 to May 2006. From October 2004 until September 2005, Mr. Gregory also served as Vice Chairman and Chief Executive Officer and previously served as President and Chief Executive Officer from May 2000 to October 2004.

"We look forward to Carl Gregory’s continued service to the Company and believe his leadership and insightfulness as the Chairman of the Board will serve stockholders well. We would also like to thank Dick Mandell for his direction as Chairman. He guided us through several important milestones including the Jefferson Capital transaction and we look forward to his continued support as a Board member," said J. Brandon Black, President and CEO of Encore Capital Group, Inc.

Carl Gregory, newly appointed Chairman of the Board of Directors of the Company said, "I am pleased to accept this position and eager to continue working with Brandon and the management team as we make progress on Encore’s business plan. I would also like to personally thank Dick Mandell for his service as the previous Chairman and look forward to his continued contributions as an independent director and Chairman of the Audit Committee."