Due to such uncertainties and
risks, readers are cautioned not to place undue reliance on such
forward-looking statements , which speak only as of the date hereof. WASHINGTON, Seniors are now taking control of
their unwanted, unneeded or expensive life insurance and opting to sell the
policy for a lump sum cash payment known as a life settlement.

purchases assists

purchases charge

Terms of the new line, which is being led by Bank of America and Wachovia,
are generally more advantageous to the Company than its prior line. As
the industry 's premier provider of life settlements we work closely with our
partner network and institutional investors to provide a fast, responsive and
competitive life settlement marketplace VESPERS can be reached at
1-888-999-9005 or at http://www.

credible effect

VESPERS Financial Group, the premiere buyer in the
secondary market for life policies, has joined the Viatical and Life
Settlement Association, (VLSAA) to further promote life settlements and
regulation within the industry.

About VESPERS Financial Group
VESPERS Financial Group is a specialty finance company that provides life
settlement services to the sellers and buyers of life insurance policies.

receivables investors

Portfolio Recovery Associates is a full -service provider of outsourced
receivables management and related services. Our membership in the VLSAA will help us promote legislation
that will keep the life settlement profess a viable and openly available
solution for consumers," Jose Garcia, Executive Vice President.

purchases assets

About Portfolio Recovery Associates, Inc.

assists loans

Forward-looking
statements involve risks and uncertainties, some of which are not currently
known to us.

purchases charged

VESPERS offers customized partner network integrations, free policy
appraisals, direct cash offers, free E+O coverage and comprehensive education
information on the secondary market for life policies.

delinquent bid

Debt brokers buy and sell portfolios of defaulted debt, such as bank loans and credit card accounts.

purchases distressed

The company's primary business
is the purchase, collection and management of portfolios of defaulted
consumer receivables.

VESPERS Financial Group Joins the Viatical and Life Settlement Association VLSAA

effect clearinghouse

Fredrickson, Chairman, President and Chief Executive Officer. The Company expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company's expectations with
regard thereto or to reflect any change in events, conditions or
circumstances on which any such forward-looking statements are based, in
whole or in part.

loans distressed

PRESS RELEASE Portfolio Recovery Associates Announces New Bank Credit Line as Portfolio Acquisitions Increase

(NASDAQ: PRAA), a company that purchases and manages portfolios of defaulted
consumer receivables and provides a broad range of accounts receivable
management services, today announced it has closed on a new $75 million
bank credit line.5 billion dollars of
life settlements monthly and is a trusted leader in the Life Settlement
business.

clearinghouse delinquent

VESPERS
provides financial advisors with a results-driven source for obtaining the
highest offers for existing life insurance policies.
"VESPERS Partner Network solutions increase control of the life settlement
process and promote a much speedier and more reliable process for our high
volume clients.vespersfinancialgroup.

credible collins

Forward-looking statements include references to Portfolio
Recovery Associates' presentations and web casts.

clearinghouse loans

"As we have long said, Portfolio Recovery Associates prefers to be an
opportunistic buyer and generally has kept significant capital in reserve
to be able to quickly respond to unusual market circumstances. Portfolio Recovery Associates also
provides a broad range of collection services, including revenue
administration for government entities through its Alatax/RDS business,
collateral-location services for credit originators via IGS Nevada,
and fee-based collections through Anchor Receivables Management.

effect loans

The October
17, 2005 change in bankruptcy law and the resulting surge in bankruptcy
filings and charge offs has helped to create such an opportunity. Actual events or results may differ from those expressed or
implied in any such forward-looking statements as a result of various
factors, including the risk factors and other risks that are described from
time to time in the Company's filings with the Securities and Exchange
Commission including but not limited to its Registration Statements on Form
S-3, its annual reports on Form 10-K, its quarterly reports on Form 10-Q
and its current reports on Form 8-K, filed with the Securities and Exchange
Commission and available through the Company's website , which contain a
more detailed discussion of the Company's business, including risks and
uncertainties that may affect future results.

purchases credible

marketplace assists

Thus far
in the fourth quarter the Company has made, and has committed to further
make, very significant acquisitions of pools of charged off debt," said
Steven D.

investors charge

Statements herein which are not historical, including Portfolio Recovery
Associates' or management's intentions, hopes, beliefs, expectations,
representations, projections, plans or predictions of the future, including
statements with respect to future contribution of IGS Nevada and Alatax to
earnings and future portfolio-purchase opportunities, are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended.
VESPERS Partner Network provides brokerages, wholesalers , marketing
agencies and financial professionals with turn key solutions with the sale of
life settlement policies.

bid credible

The forward-looking
statements in this press release are based upon management 's beliefs,
assumptions and expectations of the Company's future operations and
economic performance , taking into account currently available information.

charge buy

Stevenson,
Chief Financial and Administrative Officer. These are the unpaid obligations of individuals to
credit originators, which include banks , credit unions, consumer and auto
finance companies, and retail merchants.
Information in this press release may be superseded by more recent
information or statements, which may be disclosed in later press releases,
subsequent filings with the Securities and Exchange Commission or
otherwise .com.

bid effect

"Although we are still buying with internally generated cash, we anticipate
we will need to make some use of our new line by year-end 2005 based on
committed, unclosed transactions .

oliphant assets

Portfolio Recovery Associates, Inc.
These statements are not statements of historical fact .
VESPERS Financial Group currently underwrites over 1.

charge charged

The new credit line supplements our
internal cash generation and will permit us to take advantage of further
attractive buying opportunities that may occur," said Kevin P.