Portfolio Recovery Associates to Present at Davenport & Company LLC Institutional Investor Spring Retreat

NORFOLK, VA – Portfolio Recovery Associates, Inc. (NasdaqNM: PRAA), a leading provider of outsourced receivables management, announced Friday that Steve Fredrickson, CEO, and Kevin Stevenson, CFO, will be making a presentation to the investment community at the Davenport & Company LLC Institutional Investor Spring Retreat to be held in Williamsburg, VA, on Wednesday, May 18, 2005.

The PowerPoint presentation slides will be posted on the company’s website, www.portfoliorecovery.com, on the Investor Relations page on the day of the conference and will remain for seven days.

About Portfolio Recovery Associates, Inc.
Portfolio Recovery Associates is a full-service provider of outsourced receivables management and related services. Portfolio Recovery Associates purchases, collects and manages portfolios of defaulted consumer receivables and provides collateral location services for credit originators. Defaulted consumer receivables are the unpaid obligations of individuals to credit originators, including banks, credit unions, consumer and auto finance companies, retail merchants and other providers of goods and services. The defaulted consumer receivables Portfolio Recovery Associates collects are generally either purchased from sellers of defaulted consumer debt or are collected on behalf of debt owners on a commission basis.