Genesis Financial Solutions Debt Portfolio Purchases for 2004 Near $1 Billion in Value

Beaverton, OR – Genesis Financial Services, Inc., purchased more than 25 consumer debt portfolios in 2004 with an aggregate face value of nearly one billion dollars, announced Senior Vice President of Marketing and Debt Recovery Charlie Burrows. The $980 million value of the purchased portfolios represents a three-fold increase over purchases the year before. Nearly half of the company’s total investment was made in the last quarter of the year.

“December was a very active month for us,” says Burrows. “We were able to close on three key portfolios in the final weeks of the year, which I see as a testament to our ability to execute quickly and create transactions that work for our corporate partners.” He also credited the company’s diverse appetite for paper — ranging from pre-charge off to out-of-statute – with helping to drive their success.

According to Burrows, the company’s goals for growth in 2005 call for an investment level two to three times higher in the coming year. “There’s plenty of debt out there and we’ve got the capital to bring these kinds of transactions to a close,” he said.

About Genesis Financial Solutions
Genesis Financial Solutions, with corporate headquarters in Beaverton, Ore., is a diversified consumer financial services company that originates and invests in credit card accounts and consumer debt – both performing and non-performing. The firm provides innovative consumer receivables asset management services ranging from debt recovery to portfolio acquisition and card servicing programs. The company is ranked among the top 10 in the small company category in the 100 Best Companies to Work For in Oregon list published annually by Oregon Business magazine. Learn more about the company by visiting the Web site at www.gfspartners.com.