CompuCredit Announces Additions to Management Team

CompuCredit Corporation (NASDAQ:CCRT) today announced the appointment of two new members to their management team. J.Paul Whitehead III has been appointed Chief Financial Officer, and David Burton has been appointed General Manager of the portfolio recently acquired from Fingerhut.

"We are very pleased to welcome both J.Paul and David as members of our management team," said David Hanna, Chief Executive Officer and Chairman of the Board. "We have expanded our business during the last six months, and we believe these additions to the management team will provide our company with the necessary resources to accommodate this additional growth and prosper in the future," added Hanna.

Mr. Whitehead has a strong executive management and financial background. He was a co-founder and served as both Chief Operating Officer and Chief Financial Officer of ZapMedia, Inc. Through technology developed by ZapMedia, consumers could access and enjoy Web-delivered audio and video content over broadband on their living room stereos and televisions. Most recently a partner with Ernst & Young LLP, Mr. Whitehead's experiences also include 13 years as a certified public accountant with roles in their audit and tax practices, as well as political appointments with the U.S. Treasury Department in Washington, D.C.

Mr. Whitehead replaces Ashley Johnson, who has served as Chief Financial Officer since January 2001. Ms. Johnson has assumed the role of Vice President and Special Advisor to the Chairman, in which she will work on special projects for the Company. Initially, however, she will assist Mr. Whitehead as he transitions into his new position.

"I would like to thank Ashley for her hard work in our financial area over the past five years, and we are looking forward to her wise counsel and assistance in her new role," said Mr. Hanna.

CompuCredit Corporation also announced the appointment of David Burton to the position of General Manager of the portfolio recently acquired from Fingerhut.

"Achieving excellent collection performance will optimize the success of the Fingerhut acquisition for CompuCredit," said Rick Gilbert, Vice Chairman and Chief Operating Officer of CompuCredit. "We are confident that David's extensive experience in debt collection and recovery operations, coupled with his experience in general business management, will provide responsive support to the teams in St. Cloud and Monticello as we endeavor to maximize the opportunities created through the Fingerhut portfolio acquisition."

Mr. Burton served as Group President of OSI Education Services, Inc. in Minneapolis, Minnesota. OSI Education Services, a subsidiary of Outsourcing Solutions, Inc., is a leading provider of defaulted student loan collections, servicing over $1 billion in loans annually. Mr. Burton joined OSI when it acquired A.M. Miller & Associates, Inc., a large national collection agency where he served as President and Chief Operating Officer.

CompuCredit Corporation is a credit card company that uses analytical techniques, including sophisticated computer models, to market general-purpose credit cards and related fee-based products and services. Credit cards marketed by CompuCredit are issued by Columbus Bank and Trust Company under an agreement with CompuCredit. For more information about CompuCredit, visit www.compucredit.com.