Credit Store Sells a Pool of Residual Accounts.

SIOUX FALLS, S.D.--(BUSINESS WIRE)--March 23, 1999--The Credit Store, Inc. (EBB:PLCR) -- whose principal business is to acquire portfolios of non-performing consumer debt at substantial discounts, and then through its direct marketing expertise, transfer a significant portion of the debt onto newly issued credit cards -- said today that it sold $238 million gross principal of non-performing consumer accounts that had accumulated as residuals from routine operations over the last two years. The residual accounts were pooled from the Company's $2.5 billion inventory of non-performing consumer debt.

Martin J. Burke, chairman and chief executive officer said, "It is an axiom of our business plan that, when we buy portfolios of charged-off debt, some accounts will be recoverable by our methods and others will not. The accounts we convert that become performing credit cards generate considerable value for us. Since The Credit Store does not employ a collection company approach in our business, the unconverted accounts still have substantial value to other debt buyers in the marketplace. Reselling the unconverted residual accounts becomes an additional source of funds for The Credit Store and lowers our cost of doing business."

The Credit Store, Inc. is a nationwide financial service company engaged in the acquisition and collection of non-performing consumer receivables and the origination of and servicing of credit cards. The Company acquires portfolios of non-performing consumer debt at substantial discounts, and then uses its direct marketing expertise to contact and negotiate settlement with consumers, most of the time placing settlement on new unsecured credit cards offered through The Credit Store.

This press release may contain forward-looking statements that involve uncertainties, including, but not limited to, risks, certainties and timing related to financing, conversions, securitizations, and collections, future business activities, the competitive environment and other risks. Future trends and results may differ materially from disclosures contained in this release.