Sagres Woos Griswold From Retirement

The Sagres Company, an industry leader in accounts receivable management, has announced the addition of veteran industry executive, John Griswold, to its staff. In his position as Vice President of Operations, Griswold will consult to Sagres on collection activities, sales and acquisitions, and outsourcing to agencies and attorneys. He will also take responsibility for hiring his replacement, a position he expects to fill by early 2002.

Prior to this consulting agreement, Griswold was happily enjoying retirement, traveling the world and spending as much time as possible on the golf course. He left Household International Finance Corporation in March of 1999 after 30 years of increasing responsibility including branch management, regional sales, and Assistant Vice President of Asset Recovery. "I do love the golf course," declared Griswold, "but Sagres' interest in employee education and improvement is unique in the industry and it appealed to me - on a temporary basis."

Sagres CEO, Tom Ferris, structured a custom consulting agreement to persuade Griswold to join the company. "John and I developed a mutual trust and respect over several years of trading together. His experience with Household's growth will help to accelerate our own plans for expansion." Sagres is launching a comprehensive employee training and education program, expanding its staff, and adding benefits.

The Sagres Company specializes in the purchase, recovery and sale of charged-off consumer debt portfolios. The company is located at 8950 Villa La Jolla Drive, Suite 2112, La Jolla, California 92037 and the phone number is 800-398-5557.