Portfolio Recovery Associates to Announce First Quarter 2009 Results on April 28, 2009

NORFOLK, VA, Apr 20 (MARKET WIRE) --
Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a company that
purchases and manages portfolios of defaulted consumer receivables and
provides a broad range of accounts receivable management services, will
announce its first quarter 2009 results on April 28, 2009.

The earnings announcement, which will be released after the market closes,
will be followed at 5:30 PM EDT by a conference call with investors to
discuss the results.

Investors can access the call by dialing 888-679-8038 for domestic callers
or 617-213-4850 for international callers using the pass code 11134172. In
addition, investors may listen to the call via a taped replay by dialing
888-286-8010 for domestic callers and 617-801-6888 for international
callers using the pass code 26792016. The replay will be available
approximately one hour after the call ends and will remain available for
seven days.

Investors may also listen to the conference call via web cast, both live
and archived, at the company's web site, www.portfoliorecovery.com at the
Investor Relations main page.

About Portfolio Recovery Associates, Inc.

Portfolio Recovery Associates is a full-service provider of outsourced
receivables management and related services. The Company's primary
business is the purchase, collection and management of portfolios of
defaulted consumer receivables. These are the unpaid obligations of
individuals to credit originators, which include banks, credit unions,
consumer and auto finance companies, and retail merchants. Portfolio
Recovery Associates also provides a broad range of collection services,
including revenue administration for government entities through its RDS
and MuniServices businesses, and collateral-location services for credit
originators via IGS.

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 contributions of IGS, RDS and
MuniServices 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. Forward-looking statements include
references to Portfolio Recovery Associates' presentations and web casts.
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. These statements are not statements of historical
fact. Forward-looking statements involve risks and uncertainties, some of
which are not currently known to us. 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 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. 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. 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. 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.

Contact:
Investor Relations
757-519-9300 ext. 13010
info@portfoliorecovery.com

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