Cash America Announces Fourth Quarter Earnings and Declares Dividend.

FORT WORTH, Texas -- Cash America International, Inc. (NYSE: CSH) reported today that its financial results for the fourth quarter ended December 31, 2008 were consistent with results disclosed in the Company's release dated January 20, 2009. In that release, the Company announced that it expected its 2008 fourth quarter net income to be 15% below the prior year after adding back one-time and unusual charges incurred during the final quarter of its fiscal year. One time charges and unusual items totaled $6,041,000 after taxes (20 cents per share) which would increase reported net income from $16,267,000 (54 cents per share) to $22,308,000 (74 cents per share) for the quarter, down 15%. This compares to net income of $26,287,000 (88 cents per share) for the fourth quarter of 2007.

The unusual items incurred during the fourth quarter included costs of severance and related expenses for the closing of 42 cash advance locations, the restructuring and elimination of senior management positions, referendum initiatives related to the November 4th election in the state of Ohio and product transition costs after the defeat in that election, all of which totaled $8.6 million before taxes and $6.0 million after taxes.

During the fourth quarter 2008, which ended on December 31, the Company reported a 7% increase in total revenue, which reached $279,731,000, up from $261,129,000 in the same period in 2007. However, results from the Company's cash advance segment were hindered by the decision to close 42 locations in response to regulatory changes mandated by the outcome of the November election in Ohio and from higher loss rates within the Company's online cash advance portfolio. These two factors led to a decrease in contribution from the cash advance segment in the fourth quarter and were the primary reasons the company reported the fall-off in year-over-year net income. In addition, a heavy emphasis on the sale of merchandise in the fourth quarter led to lower gross profit margins and profits in the period.

Commenting on the results of the quarter, Daniel R. Feehan, President and Chief Executive Officer of Cash America said, "As we previously reported, we incurred greater challenges associated with our product offering changes in the state of Ohio during the fourth quarter which hurt profitability. In addition, we experienced an increase in loss rates early in the quarter within our online cash advance portfolio reversing a trend of lower loss rates through September. While we were disappointed by this change, we believe that we have addressed it appropriately and we are still within an acceptable range for this line of business."

Total revenue for the fiscal year ended December 31, 2008, was up 11% to $1,030,794,000 from $929,394,000 in 2007. Cash America finished fiscal year 2008 with net income of $81,140,000 ($2.70 per share) including one-time and unusual charges compared to $75,290,000 ($2.48 per share) excluding an after tax gain of $4.1 million (13 cents per share) in fiscal 2007 related to the sale of the Swedish pawn business.

Cash America will conduct a conference call to discuss its fourth quarter earnings Thursday, January 29, 2009 at 7:45 AM CST. A live web cast of the call will be available on the Company's corporate web site in the Investor Relations section (www.cashamerica.com). To listen to the live call, please go to the web site at least fifteen minutes early to register, download, and install any necessary audio software. A replay will be available on the Company's web site for 90 days following the conference call.

Additionally, the Company announced that the Board of Directors, at its regularly scheduled quarterly meeting, declared a $0.035 (3.5 cents) per share cash dividend on common stock outstanding. The dividend will be paid at the close of business on February 25, 2009 to shareholders of record on February 11, 2009.

Outlook for the First Quarter of 2009 and the 2009 Fiscal Year

Management enters the first quarter of fiscal 2009 without the earnings attributable to certain markets for its cash advance product that added significant incremental profitability in fiscal 2008. Management has estimated that the net effect of lost earnings due to changes in and the elimination of cash advance markets during 2008 equates to $20 to $25 million after taxes on an annualized basis (between 66 and 83 cents per share). Management believes that growth in its existing and new markets for its cash advance product will combine with growth from its pawn lending business and will overcome this decrease in contribution but not until the second half of 2009. While management believes that the demand for its credit products will remain intact in 2009, it feels there is a likelihood it will experience higher loan losses associated with the difficult consumer economic environment and it expects pressure on retail margins to support sales activities during the year. At this time, management confirms its previously reported expectation, as announced on January 20, 2009, that its fiscal year 2009 earnings per share will be in the range of between $3.10 and $3.30.

First quarter 2009 results will be impacted by the timing of federal tax refunds to the Company's customers. At this point management assumes that refunds will occur on schedule and consistent with 2008. However, management notes that there has not been a clear mandate about further tax stimulus activity in 2009. Customers received federally issued economic stimulus checks in the second quarter of 2008 which increased profitability in that period but mitigated growth in third quarter earnings. Absent a comparable stimulus package in 2009, the second quarter will return to its normal seasonal cycle of the lowest quarterly contributor to earnings and the third quarter should benefit from higher loan balances. Based on the preceding factors management believes that the first quarter of 2009 will produce between 61 and 65 cents in earnings per share compared to 86 cents in 2008.

Cash America International, Inc. is a provider of specialty financial services to individuals in the United States with 994 total locations as of December 31, 2008. Cash America is the largest provider of secured non-recourse loans to individuals, commonly referred to as pawn loans, through 613 total pawn locations, comprised of 501 in 22 states under the brand names Cash America Pawn and SuperPawn. In addition, Cash America is the majority owner of 112 pawn lending locations in Mexico that operate under the name of Prenda Facil. The Company also offers short-term cash advances in many of its locations including 248 locations that offer this service under the brand names Cash America Payday Advance and Cashland. Short-term cash advances are also offered over the Internet to customers in 32 states in the United States and in the United Kingdom at http://www.cashnetusa.com and http://www.quickquid.co.uk, respectively. In addition, check cashing services are provided through its 133 franchised and Company-owned "Mr. Payroll" check cashing centers.

For additional information regarding the Company and the services it provides, visit the Company's websites located at:

http://www.cashamerica.com http://www.cashnetusa.com

http://www.cashlandloans.com http://www.quickquid.co.uk

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This release contains forward-looking statements about the business, financial condition and prospects of Cash America International, Inc. and its subsidiaries (the "Company"). The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including, without limitation, changes in demand for the Company's services, changes in consumer credit laws, tax laws and other laws and governmental rules and regulations applicable to the Company's business, the actions of third parties who offer products and services at the Company's locations, fluctuations in the price of gold, changes in competition, the ability of the Company to open new operating units in accordance with its plans, economic conditions, real estate market fluctuations, interest rate fluctuations, changes in foreign currency exchange rates, changes in the capital markets, the ability to successfully integrate newly acquired businesses into the Company's operations and other risks indicated in the Company's filings with the Securities and Exchange Commission. These risks and uncertainties are beyond the ability of the Company to control, nor can the Company predict, in many cases, all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, terms such as "believes," "estimates," "plans," "expects," "anticipates" and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect events or circumstances occurring after the date of this release.

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