FOR IMMEDIATE RELEASE

$ 14.6 Million
Charged-Off VisaÒ/MasterCardsÒ
NATIONWIDE 

LoanTrade Inc. is pleased to announce it acted as broker on behalf of the Buyer in the sale of charged-off credit cards to the nation’s largest converter of bad debt.  The Seller was a major nationwide commercial banking institution.   

Tim Kirkpatrick, LoanTrade’s President said, “ This transaction was unique for a number of reasons.  First, it involved the Buyer’s Cash For Conversion program.  The Seller provided the Buyer with a $30 million portfolio to review.  The Buyer immediately selected about half the portfolio for inclusion in the sale.  For the next 120 days, the Buyer will contact debtors in an effort to convert their charged-off debt to MasterCards offered by the Buyer.   At the end of the 120 day time period, the Seller is to be paid a high market price for the accounts that converted and will receive back the remaining unconverted inventory.”  “I expect this type of transaction to occur more frequently as other Seller’s begin to hear about the transaction structure and results” says Kirkpatrick 

FOR FURTHER INFORMATION: 
LoanTrade Inc. 
370 W. Camino Gardens Blvd.     Suite 300
Boca Raton, FL  33432  
Attn:     Tim Kirkpatrick                     Phone:  (561) 417-5002           Fax:  (561) 417-5662

The terms, conditions, and information presented by LOANTRADE in connection with this transaction were provided to LOANTRADE by sources we consider to be reliable, however, LOANTRADE makes no representation as to the accuracy of this information.  LOANTRADE cannot guarantee the performance of the Seller.  Seller may reject any and all bids.  Seller may reduce portfolio up to the date of Seller's acceptance of Buyer's offer to purchase.