SOURCE: Portfolio Recovery Associates, Inc.

January 13, 2010 16:00 ET

Portfolio Recovery Associates Employees Give Back to Their Communities in Difficult Year

NORFOLK, VA--(Marketwire - January 13, 2010) - Portfolio Recovery Associates, Inc. (NASDAQ: PRAA) employees across the company donated time and money in 2009 to help a variety of deserving charities in the numerous communities in which PRA is located nationwide.

These efforts resulted in more than $525,000 in employee and company cash and in-kind donations, including: $188,000 of employee funds donated and collected on behalf of the United Way; $21,000 donated to Junior Achievement; 3,500 lbs. of food provided to local food banks; more than 200 pints of blood given to the Red Cross at company-sponsored blood drives; 100 turkeys donated to local food banks and shelters; 150 toys donated to the U.S. Marine Corp's Toys for Tots program; and 300 children's books collected for United Way Raising a Reader.

"At Portfolio Recovery Associates, we work with people in difficult financial situations each and every day. We know how important charitable organizations can be in providing social and other support services to those in tough circumstances. I'm very proud of the generosity of our staff in terms of both time and money for the contributions they made in 2009. Their efforts on behalf of those in need are even more noteworthy given the very difficult economy that characterized the year just passed," said Donna Long, Vice President of Human Resources for Portfolio Recovery Associates.

A number of Company employees sat on boards of directors or otherwise participated in leadership roles or giving volunteer hours to charitable organizations during the year.

The Portfolio Recovery Associates Matching Gift Program provided $55,000 in 2009, amplifying an equal amount of employee gifts, and the Company directly donated $200,000 to a range of charities.

About Portfolio Recovery Associates, Inc.

Portfolio Recovery Associates is a full-service provider of outsourced receivables management 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.

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