NORFOLK, VA, Dec 08, 2011 (MARKETWIRE via COMTEX) -- Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a specialized financial and business services company and market leader in the consumer debt purchase and collection industry, has been recognized by Volunteer Hampton Roads as a recipient of its 2011 Corporate Volunteer Excellence Award.

The Corporate Volunteer Excellence Awards are presented annually by Volunteer Hampton Roads, in partnership with the Hampton Roads Corporate Volunteer Council and Virginia Business magazine, to recognize companies with outstanding workplace volunteer programs. Portfolio Recovery Associates (PRA) was recognized in the "Good Corporate Neighbor - Large" category for companies with more than 300 employees. The award was presented during a ceremony at the Norfolk Waterside Marriott on Wednesday, December 7.

"We are proud to be recognized by Volunteer Hampton Roads for our dedication to community service," said Steve Fredrickson, chairman, president and chief executive officer of PRA. "Our employees are extremely generous in giving of their time and effort to support volunteer activities throughout the year. I'd like to thank them for their compassion and commitment to making a difference in our communities."

Since its founding in 1996, PRA has earned numerous awards for sustainable business growth, community involvement and philanthropic giving. Most recently, PRA was recognized for the fifth consecutive year as one of Forbes' 100 Best Small Companies in America.

About Portfolio Recovery Associates, Inc.

Portfolio Recovery Associates, Inc. (PRA) is a specialized financial and business services company. A market leader in the consumer debt purchase and collection industry, PRA also provides through its subsidiaries a broad range of fee-based services, including revenue enhancement for local governments; vehicle location, skip-tracing and collateral recovery for auto lenders; and filing of class action claims on behalf of institutional investors and non-securities clients. PRA has a longstanding culture of compliance, engaging collaboratively with its more than 27 million customers to create realistic, affordable repayment plans. The Company has operations in 10 states, and more than 2,500 employees.

PRA has been named to the Forbes 100 Best Small Companies in America annual rankings list for five consecutive years (2007 - 2011). It was ranked as one of BusinessWeek's 100 Hot Growth Companies in 2003, 2004 and 2007, and was recognized by Fortune as one of America's Top Small Businesses in 2006 and 2007. The Company's shares are publicly traded on the NASDAQ Global Select Market under the symbol "PRAA." Additional information about Portfolio Recovery Associates is available at www.portfoliorecovery.com.

SOURCE: Portfolio Recovery Associates