Advanta sells $100 million of capital securities.

SPRING HOUSE, Pa.--(BUSINESS WIRE)--Dec. 17, 1996--Advanta Corp. (NASDAQ: ADVNB; ADVNA) announced that it has sold non- convertible capital securities from a newly established Delaware business trust controlled by Advanta, raising $100 million of capital.

The 8.99% Capital Securities of the Advanta Capital Trust I were priced at par to yield 235 basis points above the 30- year Treasury. Cash distributions will be payable semi-annually beginning June 17, 1997. The proceeds from the sale will be used for general corporate purposes.

The 8.99% Capital Securities were sold in a private placement transaction, have not been registered under the Securities Act of 1993, and consequently may not be offered or sold in the United States absent such registration or an applicable exemption from the registration requirements.

"We believe these Capital Securities will constitute a meaningful and economically efficient part of our capital structure," commented David D. Wesselink, senior vice president and chief financial officer.

With nearly six million customers, over $18 billion in managed assets and 3,400 employees at Sept. 30, 1996, Advanta is a rapidly growing consumer financial services enterprise. The company proudly serves consumers and small businesses through high quality, innovative offerings of credit cards, mortgages, leases, insurance and deposit products.

CONTACT: Advanta Corp.

Janet Point, vice president, Investor Relations 

215/444-5335