Advanta Prices Securitization Backed by Small Business Credit Card Receivables.

Business Editors

SPRING HOUSE, Pa.--(BUSINESS WIRE)--Aug. 5, 2003

Advanta Corporation (NASDAQ:ADVNB; ADVNA) announced today that its wholly-owned subsidiary, Advanta Business Receivables Corp., has priced a $300 million business credit card securitization, backed by receivables in revolving business credit card accounts originated by Advanta Bank Corp. The transaction is expected to close on or about August 15, 2003.

Advanta Business Card Master Trust Series 2003-C is the seventh transaction by the trust to include notes offered to the public. This series is comprised of four classes of two year notes: $240 million of Class A Notes, $27.75 million of Class B Notes, $21.75 million of Class C Notes and $10.5 million of Class D Notes. The Class D notes were not offered to the public. Barclays Capital is the lead manager and Deutsche Bank Securities and Merrill Lynch are the co-managers. In addition to the typical one-month LIBOR based floating rate notes offered in prior securitizations, Series 2003-C includes a tranche of notes indexed to an average daily Federal Funds Effective rate, as well as a small tranche of fixed rate notes. The LIBOR equivalent weighted average coupon on the publicly offered notes will be 64 basis points over one-month LIBOR.

It is anticipated that the notes will receive ratings from Standard & Poor's and Moody's. Advanta will retain the servicing and customer relationships of the revolving business credit card accounts.

Advanta is a highly focused financial services company serving the small business market. Advanta leverages direct marketing and information based expertise to identify potential customers and new target markets and to provide a high level of service tailored to the unique needs of small business. Using these distinctive capabilities, Advanta has become one of the nation's largest issuers of MasterCard business credit cards to small businesses. Since 1951, Advanta has pioneered many of the marketing techniques common in the financial services industry today, including remote lending, and direct mail, affinity and relationship marketing. Learn more about Advanta at www.advanta.com.

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: obtaining the ratings by the named rating agencies; receivables volume; attrition rates; the effects of governmental regulation; and adverse market conditions. Additional risks that may affect future performance are detailed in the Company's filings with the SEC.