Bankruptcy Law May Present Opportunities for Banks to Improve Customer Education and Relationships; New InsightExpress Study Finds Most Consumers Favor New Law.

STAMFORD, Conn. -- In a recent InsightExpress(R) study of more than 500 adults, only 37% of all participants stated they were familiar with the recently passed Bankruptcy Abuse Prevention and Consumer Protection Act.

Of those familiar with the legislation, most (46%) participants state they are in favor of the Act with less than one-third (32%) against it--leaving 22% undecided. While few consumers cite the Act will impact them personally, the survey reveals strong attitudes toward financial discipline and the need for consumer education.

Percent of
                                                             Familiar
                                                             Consumers
Consumer Attitude                                            Agreeing
----------------------------------------------------------------------
Those who wantonly abuse their credit should be held fully
 responsible for their liabilities                                 88%
----------------------------------------------------------------------
The credit card industry should regulate itself in terms of
 extending credit to high credit risk groups, such as
 teenagers                                                         86%
----------------------------------------------------------------------
Credit counseling should be a pre-requisite for those
 planning to file for bankruptcy                                   85%
----------------------------------------------------------------------
The average consumer needs better guidance in handling
 financial risk and in personal responsibility                     80%
----------------------------------------------------------------------
The average taxpayer should not have to bail out individuals
 who do not pay their debts                                        79%
----------------------------------------------------------------------

"It is essential that banks and card issuers deliver new forms of consumer education to build stronger customer relationships as participants expressed a strong desire to maintain good credit and to achieve responsible spending," said Lee Smith, President of InsightExpress.

"With 73% of consumers citing credit card companies are not doing enough to help customers who are facing bankruptcy, this Act may represent a unique opportunity for banks and card issuers to enhance their reputation as consumer advocates and consumer-friendly," said John Kaminski, Director of InsightExpress' Financial Service Practice.

"Educating consumers about credit management, starting with those under the age of 30 where the majority of bankruptcy filings originate, can enable banks to build a strong and healthy relationship early in a consumer's financial career. This could directly translate into a higher lifetime value of the customer," said Sandra Kraft, Vice President of Marketing at InsightExpress and former affinity card portfolio business manager.

As the Bankruptcy Abuse Prevention Act does not go into effect until October 2005, an ongoing monitoring of shifting consumer attitudes to identify opportunities may reveal significant competitive advantages for banks and card issuers.

The survey had 511 respondents so the margin of error is +/-4.3% at a confidence level of 95%.

For additional findings from this study, please contact Sandra Kraft at 203-978-2304.

About InsightExpress

InsightExpress is an acknowledged pioneer of rapid turnaround, high-quality, online marketing research services. With its award-winning technology, market research expertise, and access to more than 100 million online individuals, InsightExpress enables its clients to easily harness market research to make the right business decision in real-time. With strong expertise in many types of research, the company has significant relationships with several of the largest credit card issuers and financial institutions. The Company is headquartered in Stamford, CT, and maintains offices in New York, Los Angeles, San Francisco, and Seattle. InsightExpress is affiliated with General Atlantic LLC. Visit us on the Web at www.insightexpress.com or call 203-978-2304.