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

Norfolk, VA — 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.