Portfolio Recovery Associates Expands Its Hampton Call Center

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 payments processing services, today announced it has entered into a lease amendment to expand its Hampton, Virginia call center and extend its lease to June 30, 2015.

The Hampton call center is located in the NetCenter office building, a unique property combining office space and complementary retail amenities in one of the city’s major commercial arteries. The lease amendment will increase the Hampton call center by approximately 37%, to 31,785 square feet, including a new employee training center, expanded employee break room, conference room, and enhanced security.

In commenting on the transaction, Steven D. Fredrickson, Chairman, President and Chief Executive Officer of Portfolio Recovery Associates, said, "The Hampton call center has been a key to Portfolio Recovery Associates’ successful operations since 2002. The extension of our NetCenter lease and the upgrades to our existing space will enable Portfolio Recovery Associates to continue to draw on the great talent on the Virginia Peninsula for years to come. We look forward to building on the success of our Hampton center and providing our Hampton employees with state-of-the-art facilities and a comfortable work environment."

"Each of our call centers plays an important role in the success of our collection activity," said Neal Stern, Portfolio Recovery Associates’ Senior Vice President and Chief Operations Officer. "We are excited that the Hampton call center will play an even greater role while increasing training opportunities for our employees and adding amenities that enhance the quality of their work day," Stern added.

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 its IGS subsidiary.