Cash America Announces Completion of Acquisition of 39 shop Chain of Pawn Lending Locations

FORT WORTH, Texas–( COMPANY WIRE )–Cash America Overseas, Inc. (NYSE: CSH) announced today so it has finished the formerly established purchase of significantly every one of the assets of Maxit Financial, LLC (“Maxit”). Maxit owned and operated a 39-store string of pawn financing areas comprising 29 areas when you look at the state of Washington and 10 areas into the state of Arizona running underneath the manufacturers of Pawn X-Change and Maxit, correspondingly. The purchase increases money America’s store count both in of the areas, where it formerly had 5 pawn places in Washington and 11 Company-owned and 7 franchised areas in Arizona.

Commenting in the Maxit purchase, Daniel R. Feehan, President and ceo of money America said, “We are pleased to own been able to perform this deal in your anticipated timeframe. We have been pleased to incorporate the skilled group of Maxit to the company. Our company is additionally excited about incorporating a sizable number of pawn lending areas in Washington and Arizona strengthening money America’s leadership position both in among these areas while the nation.”

The last regards to the purchase had been in line with the sooner announced asset purchase contract.

At closing, money America funded roughly $70.0 million for considerably every one of the assets of Maxit and adjustments that are various things associated with the deal per the regards to the asset purchase contract. Most notable quantity are 366,097 shares of money America stock that is common to Maxit. Management will not anticipate that the purchase will offer accretion to profits within the fourth quarter of 2010 because of transaction that is one-time expenses which is expensed under current accounting demands. Management anticipates that the purchase will likely be accretive in financial 2011 and certainly will offer extra details during its regularly scheduled launch of quarterly profits and seminar call, that may just simply just take put on Thursday, October 21st at 7:00 am CDT.

According to unaudited outcomes, the conclusion for the purchase of Maxit will include over $20.0 million in pawn loan balances and yearly revenue that is total of $54.0 million, in line with the trailing 12 months, to money America’s company.

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Secure Harbor Statement underneath the Private Securities Litigation Reform Act of 1995

This launch contains forward-looking statements in regards to the company, economic condition and leads of money America Overseas, Inc. and its own subsidiaries (the “Company”). The specific outcomes of the organization could differ materially from those suggested by the forward-looking statements due to different risks and uncertainties including, without limitation, alterations in pawn, credit rating, income tax along with other laws and regulations and government regulations relevant towards the company’s company, alterations in need for the business’s solutions, the continued acceptance regarding the online circulation channel by the Company’s on the web loan clients, those things of third events who provide services and products to and for the business, fluctuations into the cost of silver, alterations in competition, the capability for the business to open up brand brand new areas prior to its plans, economic climates, housing market changes, rate of interest changes, alterations in foreign trade exchange prices, alterations in the administrative centre areas, the capability to successfully incorporate newly obtained organizations to the Company’s operations, the increasing loss of services of any regarding the Company’s professional officers, the consequence of any current or future litigation procedures regarding the business, the end result of any of these modifications in the Company’s company or perhaps the areas where the business functions and other dangers and uncertainties suggested within the business’s filings utilizing the Securities and Exchange Commission. These dangers and uncertainties are beyond the power for the business to regulate, nor can the business predict, most of the time, every one of the dangers and uncertainties which could cause its real leads to vary materially from those suggested because of the forward-looking statements. Whenever utilized in this launch, terms such as for instance “believes,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “anticipates,” “may,” “forecasts,” “projects” and similar expressions and variants while they relate with the business or its administration are meant to determine forward-looking statements. The organization disclaims any intention or obligation to upgrade or revise any statements that are forward-looking reflect occasions or circumstances occurring following the date for this release.

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