AACE Ace Cash Express

ACE Cash Express Announces New Small Loan Product; ACE Enters into a New Agreement with First Bank of Delaware DALLAS, July 22 /PRNewswire-FirstCall/ -- ACE Cash Express, Inc. (NASDAQ:AACE) today announced the launch of a new credit product in approximately 400 of its company-owned stores located in Texas, Pennsylvania and Arkansas. Pursuant to a three-year marketing and servicing agreement between ACE and First Bank of Delaware, a Delaware bank, ACE customers at these stores who exceed the maximum allowable loans according to the Federal Deposit Insurance Corporation's Guidelines for Payday Lending will now have access to a 20-week installment loan product offered by First Bank of Delaware. "This new installment loan product gives our best customers, who have demonstrated credit worthiness with shorter term loans, a longer term loan solution," said Jay B. Shipowitz, President and CEO of ACE. "Adding new products that give our customers greater access to credit and more flexibility is a key component of our product strategy." An important feature of the loan will be an unconditional customer satisfaction guarantee. Any borrower may return the loan proceeds, for any reason, within two business days and pay no fees or penalties. "Giving consumers the benefit to reconsider their decision to borrow and return to ACE within two business days and pay nothing for the loan, strengthens ACE's ongoing commitment to quality products and superior customer service," said Shipowitz. "We are excited about the opportunity to reach new customers through ACE's stores in Texas, Pennsylvania and Arkansas," said Alonzo J. Primus, Executive Vice President of National Consumer Lending for FBD. "We have created a product that meets the needs of a growing segment of consumers who are looking for the financial flexibility of a small, installment loan." About ACE Cash Express ACE Cash Express, Inc. is a leading retailer of financial services, including check cashing, short-term consumer loans and bill payment services, and the largest owner, operator and franchisor of check cashing stores in the United States. As of June 30, 2005, ACE had a network of 1,371 stores in 37 states and the District of Columbia, consisting of 1,142 company-owned stores and 229 franchised stores. ACE focuses on serving consumers, many of whom seek alternatives to traditional banking relationships in order to gain convenient and immediate access to check cashing services and short-term consumer loans. ACE's website is found at http://www.acecashexpress.com/ . Forward-Looking Statements This release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are generally identified by the use of words such as "expect," "anticipate," "estimate," "believe," "intend," "plan," "target," "goal," "should," "would," and terms with similar meanings. Although ACE believes that the current views and expectations reflected in these forward-looking statements are reasonable, these views and expectations, and the related statements, are inherently subject to risks, uncertainties, and other factors, many of which are not under ACE's control and may not even be predictable. Any inaccuracy in the assumptions, as well as those risks, uncertainties and other factors could cause the actual results to differ materially from these in the forward-looking statements. These risks, uncertainties, and factors include, but are not limited to, matters described in ACE's reports filed with the Securities and Exchange Commission, such as: * ACE's relationships with Republic Bank & Trust Company, First Bank of Delaware, Travelers Express and its affiliates, and its bank lenders; * ACE's relationships with providers of services or products offered by ACE or property used in its operations; * federal and state governmental regulation of check cashing, short-term consumer lending and related financial services businesses; * any impact on the loans offered by each of Republic Bank & Trust Company and First Bank of Delaware at ACE's stores in Texas, Pennsylvania and Arkansas from the implementation of the revised Guidelines for Payday Lending announced on March 1, 2005 by the Federal Deposit Insurance Corporation, which revised Guidelines provide guidance to banks that engage in payday lending, and include a requirement that such banks develop procedures to ensure that a payday loan is not provided to any customer with payday loans outstanding from any lender for more than 3 months in the previous 12 months; * any litigation regarding ACE's short-term consumer lending activities; * theft and employee errors; * the availability of adequate financing, suitable locations, acquisition opportunities and experienced management employees to implement ACE's growth strategy; * increases in interest rates, which would increase ACE's borrowing costs; * the fragmentation of the check cashing industry and competition from various other sources, such as banks, savings and loans, short-term consumer lenders, and other similar financial services entities, as well as retail businesses that offer services offered by ACE; * the terms and performance of third-party services offered at ACE's stores; and * customer demand and response to services offered at ACE's stores. ACE expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in ACE's views or expectations, or otherwise. ACE makes no prediction or statement about the performance of its common stock. DATASOURCE: ACE Cash Express, Inc. CONTACT: William S. McCalmont, EVP & CFO, +1-972-753-2314, or , or Eric Norrington, VP of Communications, +1-972-550-5032, or , both of ACE Cash Express, Inc. Web site: http://www.acecashexpress.com/

Copyright