Financial Asset Management Systems (FAMS) Announces New President: James R. Paxton.

ATLANTA, GA – Financial Asset Management Systems, Inc. (FAMS), a recognized leader in the Accounts Receivable industry, announced today the addition of Jim Paxton as its President.

Paxton brings over 30 years of senior level management experience in sales and collections to FAMS. He will be responsible for integrating new operational concepts, expanding physical resources, and will direct company strategy as it enters its second decade of growth. Paxton?s experience in debt purchasing will also be utilized as the company expands its presence within that market.

In accepting his new role with FAMS, Paxton said ?I considered several opportunities, but I chose to join FAMS because of the consistent top performance and integrity that the company, and its principals have provided since its creation in 1993. I?ve known Pete Nance and RT Cardwell (FAMS? Co-Owners) for most of my career. The three of us worked closely together to help build Nationwide Credit over a 14 year period, and Pete and I worked together for 9 years at GC Services. We?ve always had a great relationship, and I?m looking forward to helping take FAMS to the next several levels in receivables management.?

Paxton began his career in 1970 with GC Services, serving nine years in senior sales and operations positions. In 1979, he joined Nationwide Credit, Inc. as VP of Sales. After seven years, Paxton became President and helped build NCI into the 5th largest agency in the nation. From 1993 to 1997, Paxton led OSI?s Debt Purchasing Division (Account Portfolios) as President and CEO, growing that organization to the 2nd largest debt purchaser in the industry at that time. In 1997, He joined Financial Management Control as an equity partner, serving as President and CEO. FMC sold to Intellirisk in March, ?99, and Paxton remained in his position until October 2000. Over the past two years, during a non-compete term, Paxton served as a consultant to the international collection community, primarily for a publicly traded collection agency in Australia.

About FAMS
Financial Asset Management Systems (FAMS) is one of the fastest growing, privately held, companies in the Receivables Management industry. Headquartered in Atlanta, Georgia, FAMS offers Outsourcing, A/R Management, and Third Party Collection Services on National and Regional levels for the Government, Banking, Utility, Telecommunications, and Medical Industries. To learn more about how FAMS can increase your recoveries, Visit our website at www.FAMS.net, or email Jack Morris at j.morris@fams.net.