Advanta Welcomes Stockholders to Annual Meeting; Schedules Second Quarter Earnings Conference Call.

Business Editors

SPRING HOUSE, Pa.--(BUSINESS WIRE)--June 17, 2002

Advanta Corporation (NASDAQ:ADVNB; ADVNA) welcomed stockholders, directors and employees to its 2002 Annual Meeting on June 13. 2002 marks Advanta's first full year focused exclusively on the profitable small business market.

"The small business market provides enormous opportunity to lenders who are able to anticipate the unique and varied needs of the nation's approximately 35 million small businesses," according to Chairman and Chief Executive Officer Dennis Alter. "Advanta's five decades of direct marketing expertise, our finely honed information based marketing and our customer centric orientation continue to provide us with significant competitive advantage in the market."

President and Vice Chairman Bill Rosoff noted that Advanta has built a powerful team of credit card industry veterans, "both those who have contributed to Advanta's past successes and those who have joined us in the past year."

Some of Advanta's accomplishments since the last stockholders' meeting include:

-- Achievement of 2001 Business Card earnings goals;

-- An enhanced customer service website which allows small business customers
to track account data real time and create tailored management reports;

-- Launch of initiatives to diversify cardholder base;

-- Increased customer centric orientation and enhanced customer service;

-- Improved regulatory relations; and

-- Recently improving credit quality and delinquency trends.

At the meeting, stockholders also re-elected three incumbent directors: Max Botel, James K. Ksansnak and Ronald Lubner.

Advanta also announced that it will release second quarter results on Tuesday, July 30, 2002 before the market opens. After the release, Advanta management will hold a conference call with analysts and institutional investors at 9:00 Eastern Time. The call will be broadcast simultaneously via a Vcall link on the Company's website, www.advanta.com, or at www.vcall.com. Those interested in listening to the call should go to the website at least fifteen minutes before the call to register and download any necessary software. A replay of the call will also be available at www.advanta.com following the release.

Advanta Corp. is a highly focused financial services company which has been providing innovative financial solutions since 1951. Advanta leverages its first-class direct marketing and information based expertise to develop state-of-the-art data warehousing and statistical modeling tools that identify potential customers and new target markets. Over the past five years, it has used these distinctive capabilities to become one of the nation's largest issuers of MasterCard business credit cards to small businesses, creating a special affinity with customers by branding the card with the name of the small business itself. Learn more about Advanta at www.advanta.com.

This Press Release contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The most significant among these risks and uncertainties are: (1) competitive pressures; (2) political, social and/or general economic conditions that affect the level of new account acquisitions, customer spending, delinquencies and charge-offs; (3) factors affecting fluctuations in the number of accounts or loan balances; (4) interest rate fluctuations; (5) the effects of government regulation, including restrictions and limitations imposed by banking laws, regulators, examinations, and the agreements between the Company's bank subsidiaries and their regulators; (6) relationships with customers, significant vendors and business partners; (7) the amount and cost of financing available to the Company; and (8) the impact of litigation. Additional risks that may affect the Company's future performance are detailed in the Company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.