Advanta Mortgage Prices $275 Million Revolving Home Equity Loan Securitization.

SPRING HOUSE, Pa.--(BUSINESS WIRE)--Sept. 22, 1999--

Advanta Corporation (NASDAQ: ADVNB; ADVNA) announced today that its wholly-owned subsidiary, Advanta Conduit Receivables, Inc., has priced a $275 million revolving home equity loan securitization.

The transaction is expected to close on September 28, 1999.

Advanta Revolving Home Equity Loan Trust 1999-B consists of adjustable rate revolving home equity loans which back a single class of floating rate notes. Morgan Stanley Dean Witter is the lead underwriter and Banc of America Securities LLC is the co-manager. The pass-through rate on the notes will be 37 basis points over one-month LIBOR.

The notes are expected to be wrapped by Ambac Assurance Corporation. It is anticipated that the notes will receive a AAA rating by Standard & Poor's and a Aaa rating from Moody's. Advanta will retain the servicing and customer relationships of the revolving home equity loan accounts.

Advanta is a highly focused financial services company with over 2,400 employees, approximately $12.4 billion in managed assets and approximately $9.4 billion in assets serviced for third parties. Advanta provides consumers and small businesses with innovative products and services including mortgages, equipment leases, business credit cards, insurance and deposit products.

The Company also provides a full range of loan purchasing, contract servicing and securitization services to the mortgage industry.

Any statements released by Advanta that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any forward-looking statements involve risks and uncertainties, which may affect the Company's business and prospects.

At present, significant risks and uncertainties include factors that could impact the timing of or likelihood of the closing of the securitization including: the Company's managed net interest margin; receivables volume; prepayment rates; interest rate fluctuations; the level of delinquencies; customer bankruptcies and charge-offs; the amount and rate of growth of the Company's expenses; competitive pressures from other providers of financial services; the effects of governmental regulation; the amount and cost of financing available to the Company and its subsidiaries; and the impact of the ratings of debt of the Company and its subsidiaries.

Additional risks that may affect future performance are detailed in the Company's filings with the SEC.