The Sagres Company Acquires $167 Million in Distressed Debt Portfolios

The Sagres Company, a pioneer in the consumer receivable asset management and liquidation industry, today announced that the company has purchased several portfolios of distressed consumer receivables, aggregating approximately $167 million. These portfolios were purchased in the 2nd and 3rd quarters of 2004.

Tom Ferris, Chief Executive Officer, said, "While the market for distressed consumer receivable portfolio purchases remains competitive, we have been able to build significant additions to our total portfolio inventory by maintaining our core strategy of being a disciplined buyer.”

The Sagres Company remains on target to reach its projected record revenue goals for 2004.

Ferris is confident the company will meet the record goals set at the company’s strategic planning session held January 2004, stating “Our financial position continues to be very strong, enabling us to compete for large portfolios. We plan to continue our purchasing strategy of analyzing portfolios of charged-off receivables as they become available, acquiring those that meet our financial return objectives.”

More information about The Sagres Company is available at: www.sagresco.com.