CompuCredit Launches AspireCard.com to Market Aspire Visa Credit Cards

Business Wire, July 22, 1999

ATLANTA--(BUSINESS WIRE)--July 22, 1999--

Meets Growing Demand for Real Time, On-line Credit Approvals

CompuCredit Corporation (NASDAQ:CCRT) today announced it has formed a new subsidiary, AspireCard.com, Inc., and has launched its own web site (www.AspireCard.com) through which it will market Aspire(R) Visa(R) credit cards to meet the demand for real time approval for credit cards on-line.

"The formation of this new company allows CompuCredit to apply its proprietary credit modeling techniques to the dynamic marketplace of e-commerce through the Internet," said Richard House, president of the new company. "After completing a credit application on-line through our AspireCard.com site, the applicant will have an answer within seconds. On-line, in real time: Only a few select credit card companies do this currently and what makes us different is our ability to approve consumers who are declined for credit by others," he stated.

"Our research into the business of on-line credit card marketing confirmed what we already believed -- that the vast majority of those applying for general purpose credit cards on-line were being denied," House noted.

While still preparing for the launch of AspireCard.com, CompuCredit entered into a marketing agreement with LendingTree, Inc., the on-line loan marketplace, to market the Aspire Visa credit card on its network. "That experience taught us in a very short time that we could offer our credit cards to people who were declined by others," said House.

Interested consumers may access the new service from the web by entering www.AspireCard.com, then clicking on the application icon. Upon completion of the application, consumers will be informed within seconds as to their approval status, applicable interest rate and credit limit.

AspireCard.com, Inc., a wholly owned subsidiary of CompuCredit Corporation, promotes the Aspire Visa credit card and various other value-added products and services on the Internet. CompuCredit Corporation is a credit card company that uses technology based analytical techniques it has developed to identify credit-worthy consumers who it believes are not currently being served by more traditional consumer credit providers. CompuCredit markets Aspire Visa credit cards to these consumers on an unsecured basis. Aspire Visa cards are issued by Columbus Bank and Trust Company under an agreement with CompuCredit. CompuCredit was included in the Russell 2000(R) Index in July of this year and was recently named one of Georgia's 50 Most Valuable Public Companies by the Atlanta Business Chronicle.

This press release includes statements concerning our operations, prospects, strategies, financial condition, future economic performance and consumer demand for our products, as well as our intentions, plans and objectives, including with respect to launching the AspireCard.com web page, which are forward-looking statements. These statements are based upon a number of assumptions and estimates that are subject to significant uncertainties, many of which are beyond our control. CompuCredit's actual results may differ materially from those expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially are discussed in CompuCredit's filings with the Securities and Exchange Commission, including its prospectus dated April 22, 1999, and include, among other factors, continued use and commercial viability of the Internet, risks related to on-line security on the Internet and competition for credit card customers on the Internet.