NORFOLK, Va., Dec. 4, 2013-- Portfolio Recovery Associates, Inc. (Nasdaq:PRAA), a financial and business services company operating in the U.S. and U.K, has been recognized by Volunteer Hampton Roads as a recipient of its 2013 Corporate Volunteer Excellence Award.

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=22547

The Corporate Volunteer Excellence Awards are presented annually by Volunteer Hampton Roads, in partnership with the Hampton Roads Corporate Volunteer Council and Inside Business, to recognize companies with outstanding workplace volunteer programs. PRA was recognized in the "Good Corporate Neighbor — Large Business" category for companies with more than 300 employees. The award was presented at the Westin Virginia Beach Town Center on Wednesday, December 4.

"Over the years, PRA employees have devoted thousands of hours of their time to support nonprofit and community-based organizations in Hampton Roads and across the country," said Steve Fredrickson, chairman, president and chief executive officer of PRA. "Our employees are genuinely motivated to make our communities a better place, and they know it all starts with one person volunteering to help serve someone in need."

Since its founding in 1996, PRA has earned numerous awards for business growth, community involvement and philanthropic giving. PRA was a previous recipient of the Volunteer Hampton Roads Corporate Volunteer Excellence Award in 2011. In 2012 and 2013, PRA was also named one of Fortune's 100 Fastest-Growing Companies and one of Forbes' Top 25 Best Small Companies in America.

About PRA

As a leader in the U.S. debt buying industry, Portfolio Recovery Associates, Inc. (Nasdaq:PRAA) returns capital to banks and other creditors that helps expand financial services for consumers. PRA collaborates with its customers to create affordable, realistic debt repayment plans. The company also provides a broad range of fee-based services to local governments and law enforcement, U.S. businesses, institutional investors, global hedge funds, and U.K. banks and creditors.

PRA was named one of Fortune's 100 Fastest-Growing Companies in 2013 and 2012. Last year, the company also advanced to the Top 25 of Forbes' 100 Best Small Companies, where PRA has been annually ranked since 2007. For more information, please visit www.PortfolioRecovery.com.

CONTACT: Media Contact:

        

         Ray Atkinson

         Assistant Vice President, Corporate Communications

         Portfolio Recovery Associates, Inc.

         757-351-3264

         rayatkinson@portfoliorecovery.com

PRA employees accepted a Corporate Volunteer Excellence award on Dec. 4, 2013. Left to right: Stacy Gregory, senior operations manager; Lisa Lawson, internal auditor; Craig Grube, senior director, acquisitions; Diana Haynes, compliance analyst; and Chris Graves, executive vice president, core asset acquisitions.