NORFOLK, Va., Oct. 24, 2012 -- Portfolio Recovery Associates, Inc. (Nasdaq:PRAA), a specialized financial and business services company, will announce its third quarter 2012 results on October 30, 2012.

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

Investors may access the presentation by calling 888-695-7639 in the U.S. or 970-315-0482 outside the U.S. The conference ID is 38849567.

A replay will be available approximately one hour after the call ends and will remain available until November 6, 2012.  Investors may access a replay of the presentation by calling 855-859-2056 in the U.S. or 404-537-3406 outside the U.S. To access the replay, use the conference ID 38849567. 

Investors also may listen to the conference call via webcast, both live and archived at http://ir.PortfolioRecovery.com/events.cfm.

About Portfolio Recovery Associates

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 has a longstanding culture of compliance, engaging collaboratively with its customers to create realistic, affordable repayment plans. The company provides a broad range of business services to local government, auto lenders, law enforcement, institutional investors, manufacturers and retailers, and U.K. banks and creditors.  PRA was recognized as one of Fortune's 100 Fastest Growing Companies in 2012.  The company also was named one of Forbes' Top 25 Best Small Companies in America in 2012, and has been annually ranked as one of Forbes' 100 Best Small Companies since 2007.   For more information, please visit www.PortfolioRecovery.com.

The Portfolio Recovery Associates logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13727

CONTACT: Rick Goulart

         Vice President, Corporate Communications

         757-961-3525

         RickGoulart@PortfolioRecovery.com