SOURCE: Portfolio Recovery Associates

Portfolio Recovery Associates

April 29, 2011 15:29 ET

Portfolio Recovery Associates Donates $15,000 to Assist Tornado Victims in Birmingham

Funds to Aid Birmingham Chapter of American Red Cross in Disaster Recovery Efforts

BIRMINGHAM, AL--(Marketwire - Apr 29, 2011) - Portfolio Recovery Associates, Inc. (NASDAQ: PRAA) today donated $15,000 to the Birmingham Chapter of the American Red Cross to aid in disaster recovery following the devastating tornadoes in the Birmingham area.

"The storms that hit this area left a terrible path of destruction," said Kennon Walthall, chief operating officer and senior vice president of operations for PRA Government Services. "We are thankful that all of our employees are safe, but with so many people in need of assistance, Portfolio Recovery Associates wanted to do something to help the people of this community. We're grateful to the American Red Cross for everything they are doing in our area, and we are glad to be able to partner with them in their recovery efforts."

Billy Baxter, chief executive officer of the American Red Cross Mid Alabama Region, commented, "We truly appreciate the company's generosity in making this significant donation. With so much tragedy throughout our state, we're thankful for all the generous and heroic acts of kindness and the tremendous outpouring of support."

Revenue Discovery Systems (RDS), a unit of PRA Government Services, is a wholly-owned subsidiary of Portfolio Recovery Associates (PRA). PRA's Birmingham regional office, together with RDS, has approximately 150 employees in Birmingham and has been in operation in the area since 2005.

Comprised of PRA's Norfolk, Va. headquarters, call center sites and subsidiary locations, PRA has operations in Virginia, Pennsylvania, Nevada, California, Alabama, Kansas, Tennessee, Illinois, Texas and New Jersey.

About RDS
Based in Birmingham, Ala., RDS is a government services company providing revenue enhancement support services to state and local government in the areas of tax administration, revenue discovery and recovery, and compliance audit examination.

Each year, RDS processes billions of dollars in business taxes, licenses and fees and has simultaneously discovered and recovered millions in unpaid revenues. For 30 years, RDS has been committed to delivering government solutions based on outstanding value, competitive pricing, exceptional customer service and compliance with the highest professional standards. RDS currently provides tax administration services for more than 450 state and local government clients and manages 700+ professional service contracts.

About Portfolio Recovery Associates, Inc.
Portfolio Recovery Associates, Inc. (PRA) is the parent of companies whose business revolves around the detection, collection, and processing of both unpaid and normal-course receivables originally owed to credit grantors, governments, retailers and others. PRA'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. PRA also provides fee-based services, including collateral-location services for credit originators via its IGS subsidiary, revenue administration, audit and debt discovery/recovery services for government entities through its consolidated Government Services subsidiaries, and class action claims recovery services and related payment processing through its CCB subsidiary.

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