Encore Capital Group, Inc. Closes New $75 Million, Three-Year Revolving Credit Facility with J.P. Morgan Chase

SAN DIEGO – Encore Capital Group, Inc. (Nasdaq:ECPG), a leading accounts receivable management firm, today announced that it has closed on a new $75 million syndicated, three-year revolving credit facility to be utilized for the purpose of purchasing portfolios of receivables and working capital needs. Bank One, NA, a wholly owned subsidiary of J.P. Morgan Chase & Co. (successor by merger with Bank One Corporation) is the lead bank on the new credit facility.

Encore expects the new facility to be used, at the Company’s option, during the second half of 2004, to fund portfolio purchases of non-credit card paper classes, and, upon expiration of the Company’s Secured Financing Facility on December 31, 2004, to fund all types of portfolio purchases, including credit card receivables.

The Company believes that the new credit facility improves upon the Secured Financing Facility in two important ways.

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