FBCS Expands Receivables Management Capabilities

Philadelphia, PA ? FBCS, Inc. (FBCS), a leading provider of accounts receivable management and collection services, announced today that the Company has completed the execution of its key strategic initiatives for 2003. These initiatives, which position FBCS to deliver a full spectrum of nationwide receivables management services from contingency collections to outsourcing, include:

• Implementation of an advanced technology platform for improved reporting, program management, and portfolio servicing capabilities;
• Establishment of formal Quality Assurance and Training departments to ensure compliance and quality of services through call monitoring, initial training, and ongoing training;
• Purchase and renovation of a new facility in north Philadelphia, providing expansion capacity for up to 450 collectors; and
• Recruitment of key industry executives to strengthen the management team in support of a broader range of services, including delinquency management and outsourcing.

Joseph Neary, Sr., Chief Executive Officer, commented, ?FBCS literally became a new company in 2003. We achieved record placements in contingency collections with additional growth in our outsourcing and mortgage servicing solutions. Successful execution of our 2003 strategy has enabled the Company to expand its established services for secondary and tertiary portfolios into servicing primary portfolios, delinquency management programs and providing other outsourcing solutions. This expanded solution set will strengthen our partnership with our clients while providing other major creditors with an additional choice to maximize performance in their receivables portfolio.?

James J. Eccleston, Chief Operating Officer, added, ?Our new technology platform provides enhanced program management capabilities to produce top results for our clients. We?ve already experienced a performance lift on various portfolios ranging from five to 30 percent. We?re leveraging our advanced data analysis and reporting features to identify best practices in portfolio management, and deploying these tactics across similar portfolios.?

Mr. Eccleston also commented, ?We recognize that our performance also depends upon our skill in recruiting and retaining experienced and professional staff, and FBCS is proud of its historically low staff turnover levels. Therefore, a major 2004 operating objective is to continue to maintain this low turnover by offering outstanding growth opportunities, competitive compensation, ongoing training, and attractive employee benefits that are typically only found at the largest agencies.?

The Company?s 2004 strategy includes continued expansion and enhancement of its services, by establishing or acquiring additional call centers to accommodate growth. Further expansion of its sales and client services team is planned to strengthen the Company?s partnerships with its clients.

Founded in 1983, FBCS is a leading provider of accounts receivable management and outsourced call center services, serving clients in the banking, retail, telecommunications, and mortgage sectors. FBCS, Inc. was recognized in 2003 as one of Philadelphia?s 100 fastest-growing, privately-held companies by the Wharton Small Business Development Center (SBDC) in conjunction with the Entrepreneurs Forum of Greater Philadelphia and the Philadelphia Business Journal.