Portfolio Recovery Associates to Announce Third Quarter Results on October 27

Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a specialized financial services company and market leader in the consumer debt purchase and collection industry, will announce its third quarter 2011 results on October 27, 2011.

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

Investors can access the call by dialing 888-679-8034 for domestic callers or 617-213-4847 for international callers using the passcode 49267189. In addition, investors may listen to a replay of the call by dialing 888-286-8010 for domestic callers and 617-801-6888 for international callers using the passcode 68599056. The replay will be available approximately one hour after the call ends and will remain available for seven days.

Investors also may listen to the conference call via webcast, both live and archived, at the company’s website, www.portfoliorecovery.com at the Investor Relations main page.

Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a specialized financial services company, is a market leader in the consumer debt purchase and collection industry. The Company, which has purchased more than $56 billion of defaulted consumer debt since its inception, has operations in 10 states, approximately 25 million customer accounts and more than 2,500 employees. Portfolio Recovery Associates also provides a broad range of fee-based services through its subsidiaries: PRA Government Services, LLC; MuniServices, LLC; PRA Location Services, LLC; and Claims Compensation Bureau, LLC. Working every day with people in financial distress, the Company seeks to engage collaboratively with its customers to create realistic, affordable repayment plans. Portfolio Recovery Associates has a longstanding culture of compliance, and for four consecutive years has been named to the Forbes 100 Best Small Companies in America annual rankings list (2007 – 2010).