CompuCredit Corporation Adds $275 Million of Financing Facilities.

Business Editors & Technology/Banking Writers

ATLANTA--(BUSINESS WIRE)--Jan. 7, 2000

CompuCredit Corporation (NASDAQ: CCRT) today announced it has secured an additional $275 million of receivables financing facilities through four existing relationships. Bank of America, N.A. provided a $100 million increase to its existing facility, First Union National Bank added $75 million to a similar facility, and Barclays Capital, the investment banking division of Barclays Bank, PLC, and SunTrust Equitable Securities Corporation, the investment banking affiliate of SunTrust Banks, Inc., each provided increases of $50 million to similar facilities.

"These facilities allow CompuCredit to continue its dynamic receivables growth at competitive commercial paper rates," said David Hanna, chief executive officer of CompuCredit Corporation. "We continue to add 20,000 to 25,000 new Aspire Visa cardholders to our client list each week, making CompuCredit one of the top 10 credit card issuers in terms of net new account growth. We believe that the increases to these securitization facilities is a validation by the capital markets of our proprietary modeling technology and marketing execution."

CompuCredit Corporation is a credit card company that uses technology based analytical techniques it has developed to identify credit-worthy consumers who it believes are not currently being served by more traditional consumer credit providers. CompuCredit markets Aspire Visa credit cards to these consumers on an unsecured basis through traditional channels such as direct mail and telemarketing, as well as through its Internet marketing services subsidiary, AspireCard.com, Inc. CompuCredit also markets life insurance, card registration, telecommunication products, membership in buying clubs and travel services to its cardholders. Aspire Visa cards are issued by Columbus Bank and Trust under an agreement with CompuCredit. CompuCredit completed its initial public offering in April 1999. CompuCredit was included in the Russell 2000(R) Index in July of 1999.

This press release includes statements concerning our operations, prospects, strategies, financial condition, future economic performance and consumer demand for our products, as well as our intentions, plans and objectives that are forward-looking statements within the meaning of the federal securities laws and are intended to have the benefit of the federal safe harbor for forward-looking statements. CompuCredit can give no assurance that its plans or expectations, as reflected in these forward-looking statements will be achieved. These forward-looking statements are subject to various assumptions, risks, trends, uncertainties and other factors that could cause actual results to differ materially from those that are currently planned or expected. These factors include, among other things, the risks set forth under the caption "Risk Factors" in CompuCredit's prospectus dated April 22, 1999 on file with the Securities and Exchange Commission. Moreover, as a consequence of those or other factors, CompuCredit's plans or expectations may change. CompuCredit undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.