Portfolio Recovery Associates to Announce Fourth Quarter and Full Year 2008 Results on February 12, 2009

Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a company that purchases and manages portfolios of defaulted consumer receivables and provides a broad range of accounts receivable management services, will announce its fourth quarter and full year 2008 results on February 12, 2009.

The earnings announcement, which will be released after the market closes, will be followed at 5:30 PM EST by a conference call with investors to discuss the results.

Investors can access the call by dialing 888-679-8038 for domestic callers or 617-213-4850 for international callers using the pass code 94774250. In addition, investors may listen to the call via a taped replay by dialing 888-286-8010 for domestic callers and 617-801-6888 for international callers using the pass code 14189690. The replay will be available approximately one hour after the call ends and will remain available for seven days.

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