Advance America Announces Completion of Merger with Grupo Elektra

April 23, 2012
Jamie Fulmer

SPARTANBURG, SC – Advance America, Cash Advance Centers, Inc. (NYSE: AEA) (the “Company”) today announced that it has completed its merger with an indirect subsidiary of Grupo Elektra S.A.B. de C.V. (“Grupo Elektra”), effective April 23, 2012. Grupo Elektra offers banking services, credit, and other financial products to underserved consumers in Mexico and in other Latin American countries, including Brazil, El Salvador, Guatemala, Honduras, Panama, and Peru. Based in Mexico City, Grupo Elektra is a publicly-traded company on the Mexican stock exchange.

Under the terms of the merger agreement with Grupo Elektra, an indirect subsidiary of Grupo Elektra has acquired all of the outstanding shares of common stock of the Company for $10.50 per share in cash. Letters of transmittal enabling the Company’s stockholders of record to deliver their shares to the paying agent in exchange for payment of the merger consideration will be distributed shortly. If your shares of the Company’s common stock are held in “street name” by your broker, bank, or other nominee, you will receive instructions after the effective time of the merger from your broker, bank, or other nominee as to how to effect the surrender of your “street name” shares and receive cash for those shares.

In connection with the transaction, the Company was advised by Wells Fargo Securities LLC and K&L Gates LLP, and Grupo Elektra was advised by Stephens, Inc. and Paul, Weiss, Rifkind, Wharton & Garrison LLP.

About Advance America, Cash Advance Centers, Inc.

Founded in 1997, Advance America is the leading provider of non-bank cash advance services in the United States, with approximately 2,600 centers in 29 states. Advance America offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. Advance America is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit (www.advanceamerica.net) for more information.

Important Additional Information and Where to Find It

The Securities and Exchange Commission (the “SEC”) maintains a website that contains reports, proxy and information statements, and other information regarding the Company at www.sec.gov. In addition, any materials the Company files with the SEC may be read and copied at the SEC’s Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-SEC-0330. In addition, the documents filed with the SEC by Advance America may be obtained free of charge from Advance America’s website at www.advanceamerica.net.

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Grupo Elektra to Acquire Advance America for $10.50 Per Share

February 15, 2012
Jamie Fulmer

Acquisition brings unparalleled expansion opportunity in broad and dynamic segments of the North American credit market.

Mexico City, Mexico and Spartanburg, South Carolina – Advance America, Cash Advance Centers, Inc. (NYSE:AEA) and Grupo Elektra, S.A.B. de C.V. (BMV: ELEKTRA) today announced that Advance America and subsidiaries of Grupo Elektra have entered into a definitive agreement under which Grupo Elektra will acquire control of all of the outstanding shares of Advance America, a leading U.S. short-term lender, for $10.50 per share in cash, representing a 32.7% premium to the Company’s closing price of $7.91 on February 15, 2012 . The total transaction value is approximately $780 million, including the Company’s outstanding debt as of December 31, 2011.

The acquisition of Advance America represents Grupo Elektra’s first major investment in the U.S. financial services market. Advance America is the leading provider of non-bank cash advance services in the U.S., with approximately 2,600 centers in 29 states, the United Kingdom, and Canada. Grupo Elektra is Latin America’s leading specialty retailer and financial services company, offering world class brands, as well as banking services, credit and other financial products to underserved consumers in Mexico and in other Latin American countries, including Brazil, El Salvador, Guatemala, Honduras, Panama, and Peru. Based in Mexico City, Grupo Elektra is publicly traded on the Mexican stock exchange.

Ricardo Salinas, Chairman of Grupo Elektra, said: “We are eager to expand our services to the United States and to continue meeting the needs of the financially underserved. Advance America’s excellent customer satisfaction rates, strong track record of regulatory compliance and broad distribution network are incredibly valuable. Advance America serves its customers like a community bank, but has the footprint of a national financial institution. We want to preserve those productive qualities and help this solid enterprise grow.”

“Grupo Elektra is a world-renowned company, widely acknowledged for its innovation and leadership,” said Advance America’s Chairman, William M. Webster, IV. “We are confident that Grupo Elektra’s experience and resources in the banking and financial services sector, in particular, will enable us to broaden our customer base and further enhance our array of products and services.”

“Advance America will continue to focus on what has always been the core of our business – providing affordable, reliable and transparent financial options for hardworking families, and maintaining a commitment to quality customer service,” said Patrick O’Shaughnessy, Advance America’s President and Chief Executive Officer.

Advance America’s Board of Directors unanimously approved the transaction and recommends that its stockholders vote in favor of the transaction. Under the terms of the merger agreement, Advance America may solicit acquisition proposals from third parties for a period of 45 days and subject to the terms of the agreement, may, at any time, respond to an unsolicited proposal that its Board of Directors determines would be reasonably likely to result in a superior proposal. The Board of Directors of Advance America, with the assistance of its advisors, will actively solicit acquisition proposals during this 45-day period. There can be no assurance that this process will result in a superior proposal. If there is not a superior proposal, the transaction is expected to close during the first half of 2012.

The transaction is subject to customary closing conditions, including receipt of regulatory approvals and approvals by Advance America stockholders. Advance America stockholders will continue to receive their regular quarterly dividends of $0.0625 per share, if and when declared by its Board of Directors, until the transaction closes. Grupo Elektra and its subsidiaries will finance the transaction with cash on hand together with borrowings.

It is expected that Mr. O’Shaughnessy and other key members of senior management will continue in their roles with the Company after the transaction is completed and that Advance America’s headquarters will remain in Spartanburg, South Carolina. Stephens Inc. is serving as financial advisor to Grupo Elektra and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to Grupo Elektra. Wells Fargo Securities, LLC is serving as financial advisor to Advance America and rendered a fairness opinion regarding the transaction to Advance America’s Board of Directors. K&L Gates LLP is serving as legal counsel to Advance America.

Inquiries – Grupo Elektra

Investor Relations
Bruno Rangel
Grupo Salinas
Tel. +52 (55) 1720 9167
jrangelk@gruposalinas.com.mx

Carlos Casillas
Grupo Salinas
Tel. +52 (55) 1720 0041
cjcasillas@gruposalinas.com.mx

Press Relations
Tristán Canales
Grupo Salinas
Tel. +52 (55) 1720-1441
tcanales@gruposalinas.com.mx

Daniel McCosh
Grupo Salinas
Tel. +52 (55) 1720-0059
dmccosh@gruposalinas.com.mx

Inquiries – Advance America, Cash Advance Centers, Inc.

Investor and Press Relations
Jamie Fulmer
Advance America, Cash Advance Centers, Inc.
Tel. (864) 342-5633
jfulmer@advanceamerica.net

About Grupo Elektra

Grupo Elektra (www.grupoelektra.com.mx) is Latin America’s leading specialty retailer and financial services company focused on the underserved market. Grupo Elektra operates over 2,600 points of sale in Mexico, Brazil, Guatemala, Honduras, Peru, Panama, El Salvador and Argentina. Grupo Elektra also sells and markets its consumer finance, banking and financial products and services through Banco Azteca branches located in Mexico, Brazil, Panama, Guatemala, Honduras, Peru and El Salvador.

Grupo Elektra is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating shareholder value, contributing to build the middle class of the countries in which they operate and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. The companies include Azteca (www.irtvazteca.com), Azteca America (www.aztecaamerica.com), Grupo Elektra (www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx) and Grupo Iusacell (www.iusacell.com.mx). Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. However, the member companies share a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.

About Advance America

Founded in 1997, Advance America is the leading provider of non-bank cash advance services in the United States, with approximately 2,600 centers in 29 states, the United Kingdom, and Canada. Advance America offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. Advance America is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit (www.advanceamerica.net) for more information.

Forward-Looking Statements

This document contains certain forward-looking information 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. Forward-looking statements regarding Advance America reflect Advance America’s current expectations, beliefs, or forecasts of future events. Forward-looking statements also include the plans, objectives, and expectations of Group Elektra and Advance America with respect to the transaction. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as “expect,” “intend,” “plan,” “believe,” “project,” “anticipate,” “may,” “will,” “should,” “would,” “could,” “estimate,” “continue,” and other words and terms of similar meaning in conjunction with a discussion of future operating or financial performance. You should read statements that contain these words carefully, because they discuss future expectations, contain projections of future results of operations or financial position, or state other “forward-looking” information. Forward-looking statements involve substantial risks and uncertainties, which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Such differences may result from a variety of factors, including but not limited to: (i) the occurrence of any event or other circumstance that could lead to the termination of the merger agreement; (ii) the inability to consummate the transaction due to the failure to obtain stockholder approval; (iii) risks related to disruption of management’s attention from Advance America’s ongoing business operations due to the transaction; (iv) the effect of the announcement of the transaction on Advance America’s operating results and business generally; and (v) the need to obtain certain consents and approvals and satisfy certain conditions to closing the transactions. More information about Advance America and other risks related to Advance America are detailed in its Annual Report on Form 10-K for the year ended December 31, 2010 and in “Part II. Item 1A. Risk Factors” of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2011 as filed with the Securities and Exchange Commission (the “SEC”). Other risks that may affect Group Elektra and its subsidiaries are identified in documents which Grupo Elektra sends to applicable securities authorities. Neither Grupo Elektra nor Advance America has any intention, and neither undertakes, to update any forward-looking statements to reflect events or circumstances arising after the date hereof, whether as a result of new information, future events or otherwise.

Additional Information and Where to Find It

In connection with the proposed transaction, Advance America will prepare a proxy statement to be filed with the SEC. ADVANCE AMERICA’S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT ADVANCE AMERICA, THE PROPOSED TRANSACTION, AND RELATED MATTERS. Stockholders will be able to obtain the proxy statement (when available) free of charge on the Company’s website at http://www.advanceamerica.net. The SEC also maintains a website that contains reports, proxy and information statements, and other information regarding the Company at www.sec.gov. In addition, any materials the Company files with the SEC may be read and copied at the SEC's Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-SEC-0330.

Participants in Solicitation

Advance America and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Advance America’s stockholders in connection with the transaction. Information about Advance America’s directors and executive officers and their holdings of Advance America securities is set forth in the proxy statement for Advance America’s 2011 Annual Meeting of Stockholders, which was filed with the SEC on April 14, 2011. Stockholders may obtain additional information regarding the interests of Advance America’s directors and officers by reading the proxy statement and other relevant documents regarding the transaction, when filed with the SEC.

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Advance America Reports Third Quarter 2011 Earnings per Share of $0.24

October 26, 2011
Jamie Fulmer

SPARTANBURG, S.C.,– Advance America, Cash Advance Centers, Inc. (NYSE: AEA) today reported the results of its operations for the nine months and quarter ended September 30, 2011.

Highlights:

- Diluted earnings per share for the nine months and quarter were $0.67 and $0.24, respectively, compared to diluted earnings per share of $0.32 and $0.02 for the same periods in the prior year.

- Net income for the nine months and quarter of $41.1 million and $14.6 million.

- Center gross profit for the nine months and quarter of $123.4 million and $43.0 million, respectively, increased 12.1% and 18.7% over the same periods in the prior year.

- Cash flow from operations for the nine months ended September 30, 2011, increased 41.4% over the same period in the prior year to $115.9 million.

- EBITDA from operations for the trailing twelve months was $119.8 million, an increase of 32.5% over the comparable prior-year period.

Operating Results of Nine Months and Quarter ended September 30, 2011:

Commenting on the results for the third quarter of 2011, Advance America’s President and Chief Executive Officer, Patrick O’Shaughnessy said, “We are pleased to report to our third consecutive quarter of center gross profit and earnings growth. Customer service is the core of Advance America’s business, and our strong results this quarter reflect our steadfast efforts to satisfy the varied needs of American consumers. In particular, our recent purchase of CompuCredit’s retail storefront lending business, Advance America’s first major acquisition in ten years, will help strengthen our Company’s solid foundation and bolster our commitment to providing simple, reliable, transparent and affordable financial services. As always, we will continue to focus on new opportunities to generate value for our shareholders, and believe that we are well-positioned for the future.”

Revenues

For the nine months and quarter ended September 30, 2011, total revenues increased to $443.6 million and $158.9 million, respectively, compared to $440.0 million and $154.2 million for the same periods in 2010.

These comparisons include the results of operations in Colorado, Illinois, Virginia, Washington and Wisconsin where regulatory changes have reduced the Company’s revenue and profitability in 2011. Revenues in these five states were $11.0 million for the quarter ended September 30, 2011, compared to $17.3 million for the same period in 2010.

Excluding revenues in those states, total revenues for the quarter ended September 30, 2011, increased by 8.0%, compared to the same period in 2010. For the quarter ended September 30, 2011, total revenues for the Company’s centers opened prior to July 1, 2010 and still open as of September 30, 2011 increased 4.9% compared to the same period in 2010.

Excluding centers in Colorado, Illinois, Virginia, Washington and Wisconsin, total revenues from the Company’s centers opened prior to July 1, 2010 and still open as of September 30, 2011 increased 8.8% for the quarter ended September 30, 2011, compared to the same period in 2010.

Provision for Doubtful Accounts

The provision for doubtful accounts as a percentage of total revenues for the nine months ended September 30, 2011 was 16.7%, compared to 16.2% for the same period in 2010.

The provision for doubtful accounts as a percentage of total revenues for the quarter ended September 30, 2011 was 20.9%, compared to 21.6% for the same period in 2010.

The Company did not sell any previously written-off receivables during the nine months ended September 30, 2011. The Company sold $0.7 million of previously written-off receivables during the nine months ended September 30, 2010.

For the quarters ended September 30, 2011 and September 30, 2010, the Company did not sell any previously written-off receivables.

Expenses and Center Gross Profit

Total marketing expense for the nine months ended September 30, 2011 was $15.5 million or 3.5% of revenues, compared to $15.7 million or 3.6% of revenues for the same period of 2010. For the quarter ended September 30, 2011, the Company’s advertising expense was $6.3 million, or 4.0% of total revenues, compared to $5.5 million, or 3.6% of total revenues, for the same period in 2010.

Total center expenses for the nine months and quarter ended September 30, 2011 were $320.2 million and $115.9 million, respectively, compared to $329.9 million and $118.0 million for the same periods in 2010.

Center gross profit increased 12.1% to $123.4 million for the first nine months of 2011 from $110.1 million in the same period in 2010. For the quarter ended September 30, 2011, center gross profit was $43.0 million; an increase of 18.7% compared to $36.2 million for the quarter ended September 30, 2010. General and administrative expenses were $44.3 million for the nine months ended September 30, 2011, as compared to $47.6 million for the same period in 2010.

General and administrative expenses for the quarter ended September 30, 2011 were $14.7 million, compared to $14.4 million for the same period in 2010.

Income before Income Taxes

Income before income taxes for the first nine months of 2011 was $74.0 million, compared to $37.5 million for the same period in 2010. Income before income taxes for the quarter ended September 30, 2011 increased to $26.5 million, compared to $3.9 million for the same period in 2010. The Company previously disclosed legal settlement expenses of $18.6 million during nine months ended September 30, 2010, including $16.2 million during the quarter ended September 30, 2010. Excluding legal settlements from the nine months and quarter ended September 30, 2010, income before income taxes was $56.1 and $20.1 million respectively.

Income Tax Rate The effective income tax rate as a percentage of income before income taxes was 44.4% and 46.7% for the nine months ended September 30, 2011 and 2010, respectively.

The effective income tax rate as a percentage of income before income taxes was 45% and 64.3% for the three months ended September 30, 2011 and 2010, respectively.

Net Income and Earnings per Share

Net income for the first nine months of 2011 increased to $41.1 million compared to $20.0 million for the same period in 2010. Net income for the quarter ended September 30, 2011 increased to $14.6 million, compared to $1.4 million for the same period in 2010.

Diluted earnings per share were $0.67 for the nine months ended September 30, 2011, compared to diluted earnings per share of $0.32 for the same period in 2010. For the quarter ended September 30, 2011, diluted earnings per share were $0.24, compared to diluted earnings per share of $0.02 for the same period in 2010.

Cash Flow from Operations

Cash flow from operations for the nine months ended September 30, 2011, increased 41.4% to $115.9 million, compared to $82.0 million for the same period in 2010.

As of September 30, 2011 the Company had $79.1 million outstanding under its revolving credit facility and $36.0 million in cash and cash equivalents, compared to $111.9 million outstanding under of revolving credit facility and $26.9 million in cash and cash equivalents on December 31, 2010.

EBITDA

EBITDA from operations for the trailing twelve months increased 32.5% over the comparable prior-year period, totaling $119.8 million. EBITDA as a % of revenue was 19.8% for the trailing twelve months ended September 30, 2011, compared to 14.7% for the same period in the prior year. EBITDA is defined in the detailed reconciliation of this non-GAAP financial measure provided elsewhere in this release.

Center Closings, Openings, and Acquisition

During the quarter ended September 30, 2011, the Company closed or consolidated 51 centers in nine different states, including 30 in Washington where the Company’s operating results have been negatively impacted by a law that went into effect in January of 2010. The Company had approximately $0.9 million of center closing costs during the quarter ended September 30, 2011, compared to $2.4 million during the same period in 2010. Closing costs include severance, center tear-down costs, lease termination costs, and the write-down of fixed assets. The Company opened a total of 7 centers during the quarter ended September 30, 2011.

As previously announced on October 10, 2011, the Company completed its purchase of substantially all of the assets of CompuCredit’s retail storefront consumer finance business consisting of approximately 300 centers located in Alabama, Colorado, Kentucky, Ohio, Oklahoma, Mississippi, South Carolina, Tennessee, and Wisconsin. As of October 26, 2011, the Company has an operating network of 2,596 centers and 52 limited licensees in 29 states, the United Kingdom, and Canada.

Quarterly Dividend

Today, the Company’s Board of Directors declared a regular quarterly dividend of $0.0625 per share. The dividend, the Company’s 28th consecutive quarterly dividend, will be payable on December 2, 2011 to stockholders of record as of November 22, 2011.

Since its initial public offering in December 2004, the Company has returned approximately $400.3 million in cash to its stockholders through the repurchase of shares and the payment of quarterly dividends.

Conference Call

The Company will discuss its financial performance on a conference call Thursday, October 27, 2011 at 8:00 a.m. (ET).

To listen to this call, please dial the conference telephone number (877) 303-6168. This call will also be available via a live webcast accessed at Advance America’s website www.advanceamerica.net. An audio replay of the call will be available online or by telephone at (855) 859-2056 (replay pass code: 16518214) until November 11, 2011.

# # #

The Company discloses in this press release its earnings before interest expense, income based taxes, depreciation and amortization (“EBITDA”). EBITDA, which is a “non-GAAP financial measure” as defined under the rules of the SEC, is intended as a supplemental measure of the Company’s performance that is not required by, or presented in accordance with; U.S. generally accepted accounting principles (“GAAP”). The Company presents EBITDA because it believes that, when viewed with the Company’s GAAP results and the accompanying reconciliation, EBITDA provides useful information about its operating performance. Additionally, the Company believes that EBITDA is commonly used by investors to assess a company's leverage capacity, liquidity and financial performance. However, EBITDA should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP or as an alternative to cash flows from operating activities or any other liquidity measure derived in accordance with GAAP. The Company’s presentation of EBITDA should not be construed to imply that its future results will be unaffected by unusual or nonrecurring items.

The following table provides a reconciliation of net income to EBITDA (in thousands):

                   Trailing Twelve Months Ended September 30, 2011 2010


Net income                                                          $ 56,878         $ 39,850

Adjustments:

Income tax expense                                             45,342             30,094

Depreciation and amortization                                13,190             15,670

Interest expense, net                                            4,427               4,811

Earnings before interest, taxes, depreciation and

amortization                                                       $ 119,837        $ 90,425



EBITDA margin calculated as follows:

Total revenues                                                     $ 603,891         $ 613,222

Earnings from operations before interest, taxes,

depreciation and amortization                                119,837              90,425

EBITDA as a percent of revenue                              19.8%                14.7%



About Advance America, Cash Advance Centers, Inc.

Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,600 centers and 52 limited licensees in 29 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

# # #

Forward-Looking Statements and Information: Certain statements contained in this release may constitute “forward-looking statements” within the meaning of federal securities laws. All statements in this release other than those relating to our historical information or current condition are forward-looking statements. For example, any statements regarding our future financial performance (including, but not limited to, the Company’s ability to execute its long- term strategy and to manage operational efficiencies across its national footprint), our business strategy, legislative and regulatory developments in our industry, our ability to integrate acquired assets in a manner that will be accretive to our earnings, strengthen the consumer demand for and access to our short-term credit products, and provide immediate long-term added value to our shareholders, are forward-looking statements. Although the Company believes that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable. Therefore, actual results could differ materially from our expectations as of today and any future results, performance, or achievements expressed directly or impliedly by the forward-looking statements. For a more detailed discussion of some of the factors that may cause our actual results to differ from our current expectations, please refer to the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2010 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, copies of which are available from the Securities and Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net

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Advance America Completes Acquisition of Approximately 300 Retail Consumer Finance Locations

October 10, 2011
Jamie Fulmer

SPARTANBURG, S.C.– Advance America, Cash Advance Centers, Inc. (NYSE: AEA), announced today that it has completed its previously disclosed purchase of substantially all of the assets of CompuCredit’s retail storefront consumer finance business consisting of approximately 300 centers located in Alabama, Colorado, Kentucky, Ohio, Oklahoma, Mississippi, South Carolina, Tennessee, and Wisconsin. The purchase price is approximately $46.7 million, comprised of the $45.6 million contract amount and a working capital adjustment of approximately $1.1 million, and is subject to possible post-closing adjustments and indemnities.

Commenting on today’s announcement, Advance America’s President and Chief Executive Officer, Patrick O’Shaughnessy said, “We are pleased to finalize Advance America’s acquisition of CompuCredit’s storefront business. This addition to our retail footprint will help to grow our business, and allow us to expand access to affordable financial services and provide added value for our stakeholders. I look forward to our new coworkers joining the rest of our dedicated Advance America team, and together strengthening our commitment to providing excellent customer service and reliable and cost-effective financial tools for American consumers.”

# # #

About Advance America Cash Advance

Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,650 centers and 55 limited licensees in 29 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

# # #

Forward-Looking Statements and Information:

Certain statements contained in this release may constitute “forward-looking statements” within the meaning of federal securities laws. All statements in this release other than those relating to our historical information or current condition are forward-looking statements. For example, any statements regarding our future financial performance (including, but not limited to, the Company’s ability to execute its long-term strategy and to manage operational efficiencies across its national footprint), our business strategy, legislative and regulatory developments in our industry, our ability to integrate acquired assets in a manner that will be accretive to our earnings, strengthen the consumer demand for and access to our short-term credit products, and provide immediate long-term added value to our shareholders, are forward-looking statements. Although we believe that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable. Therefore, actual results could differ materially from our expectations as of today and any future results, performance, or achievements expressed directly or impliedly by the forward-looking statements. For a more detailed discussion of some of the factors that may cause our actual results to differ from our current expectations, please refer to the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2010 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, copies of which are available from the Securities and Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net

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Advance America Cash Advance Sponsors Toy Drive for Children’s of Alabama

August 17, 2011

Advance America, Cash Advance Centers, Inc. collected over 7,000 toys for Alabama's only freestanding pediatric medical facility, Children's of Alabama.

"We are grateful for this generous donation on behalf of Advance America," said Suzanne Reeves, director of the Child Life program at Children's of Alabama. "The outpouring of support from the community is encouraging to our patient families and these toys will provide a welcome distraction during their time at Children's."
 

From April to June, Advance America centers in Birmingham held a Toy Drive in their communities. In that time, they were able to collect over 7,000 toys for Children's of Alabama.

"Our company has built its foundation on being a part of the communities we serve, and events like these are central to our commitment to giving back," said Jamie Fulmer, vice president of public affairs for Advance America. "We are pleased to provide support for local families through this contribution to Children's of Alabama, and proud of our employees for taking an active role in their community."

***

About Advance America Cash Advance
Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,400 centers and 55 limited licensees in 29 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

About Children's of Alabama
Children's of Alabama is the only medical center in Alabama dedicated solely to the care and treatment of children and is one of the 10 busiest pediatric medical centers in the nation. It is home to Alabama's only Level I pediatric trauma center; a leading pediatric hematology/oncology center; the state's only pediatric blood and marrow transplant program; and the only pediatric burn center in the southeastern U.S. It is a private, not-for-profit hospital that serves as the primary site of the University of Alabama at Birmingham (UAB) pediatric medicine, surgery, research and residency programs. Ten of its divisions - pulmonology, neurology and neurosurgery, orthopedics, urology, neonatology, cancer, cardiology, gastroenterology, endocrinology and nephrology-are ranked in the Top 50 Children's Hospital
Programs by US News & World Report. Children's is recognized by the American Nurses Credentialing Center as a Magnet-designated hospital for its excellence of nursing care. The hospital is celebrating its 100th anniversary in 2011 and currently building a 760,000-square-feet expansion facility. For more information, visit www.childrensal.org, facebook.com/childrensofalabama, or twitter.com/ChildrensAL.

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Advance America Cash Advance Sponsors a Teddy Bear Drive for Ronald McDonald House - Mobile, AL

August 17, 2011
Jamie Fulmer

Advance America, Cash Advance Centers, Inc. collected over 2,300 stuffed animals for the local Ronald McDonald House.

During the months of April and May, Advance America centers in Baldwin and Mobile counties held a Teddy Bear Drive in their communities. In that time, they were able to collect over 2,300 stuffed animals for the children at the Ronald McDonald House of Mobile.

"Our company has built its foundation on being a part of the communities we serve, and events like these are central to our commitment to giving back," said Jamie Fulmer, vice president of public affairs for Advance America. "We are pleased to provide support for local families through this contribution to the Ronald McDonald House of Mobile, and proud of our employees for taking an active role in their community."

Representatives from the participating Advance America centers presented the stuffed animal donations to the Ronald McDonald House of Mobile on Thursday, July 14.

***
About Advance America Cash Advance
Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,400 centers and 55 limited licensees in 29 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

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Advance America Announces Agreement to Acquire Approximately 300 Retail Consumer Finance Locations

August 8, 2011

SPARTANBURG, S.C. - Advance America, Cash Advance Centers, Inc. (NYSE: AEA), announced today that it has entered into an agreement with CompuCredit Holdings Corporation to purchase substantially all of the assets of CompuCredit's retail storefront consumer finance business for a total consideration of approximately $45.6 million, subject to certain adjustments. The transaction is expected to close in the fourth quarter of 2011, and Advance America expects it to be accretive to earnings in 2012.

As of June 30, 2011, CompuCredit's retail storefront consumer finance business consisted of approximately 300 locations in nine different states and had approximately $42.3 million in outstanding gross advances and fees receivable.

Highlights of the acquired business's unaudited financial results for the trailing twelve months ended June 30, 2011 include:

· Total revenues of $72.1 million

· Center gross profit of $20.3 million

· Selling, General &Administrative expense of $8.8 million

· Depreciation expense of $0.9 million

Commenting on today's announcement, Advance America's President and Chief Executive Officer, Patrick O'Shaughnessy said, "This is an exciting opportunity for Advance America and we look forward to adding these locations, and the people that made them successful, to our existing national network. Consumer demand for short-term credit remains strong. We believe this acquisition will enable us to expand consumer access to simple, reliable and affordable financial services, which is the foundation of our business, while providing immediate and long-term value to our shareholders."


# # #

About Advance America Cash Advance

Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,400 centers and 55 limited licensees in 29 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

# # #

Forward-Looking Statements and Information:
Certain statements contained in this release may constitute "forward-looking statements" within the meaning of federal securities laws.  All statements in this release other than those relating to our historical information or current condition are forward-looking statements.  For example, any statements regarding our future financial performance (including, but not limited to, the Company's ability to execute its long-term strategy and to manage operational efficiencies across its national footprint), our business strategy, legislative and regulatory developments in our industry, our ability to close the proposed transaction and integrate the assets to be acquired in a manner that will be accretive to our earnings, strengthen the consumer demand for and access to our short-term credit products, and provide immediate long-term value to our shareholders,  are forward-looking statements.  Although we believe that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable.  Therefore, actual results could differ materially from our expectations as of today and any future results, performance, or achievements expressed directly or impliedly by the forward-looking statements.  For a more detailed discussion of some of the factors that may cause our actual results to differ from our current expectations, please refer to the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2010 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, copies of which are available from the Securities and Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net

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Advance America Second Quarter 2011 Earnings per Share Increase 75% to $0.14

July 27, 2011
Jamie Fulmer

SPARTANBURG, S.C. - Advance America, Cash Advance Centers, Inc. (NYSE: AEA) today reported the results of its operations for the six months and quarter ended June 30, 2011.

Highlights:

•Diluted earnings per share for the six months and quarter were $0.43 and $0.14, respectively.
•Net Income for the six months and quarter increased 42.7% and 67.9% over the same periods in the prior year to $26.6 million and $8.6 million.
•Center gross profit for the six months and quarter of $80.4 million and $32.1 million, respectively, increased 8.8% and 3.0% over the same periods in prior year.
•Cash flow from operations for the six months ended June 30, 2011, increased 56.8% over the same period in the prior year to $64.9 million.

Operating Results of Six Months and Quarter ended June 30, 2011:
Commenting on the results for the second quarter of 2011, Advance America's President and Chief Executive Officer, Patrick O'Shaughnessy said, "We continue to provide reliable and affordable financial services to our customers, who are reporting exceptionally high satisfaction ratings with our Company. While revenues have remained in-line with prior quarters as a result of some state law changes, the positive effects of our center consolidation efforts and our ongoing focus on controlling costs have yielded strong bottom-line performance. Advance America remains deeply committed to our core business principles of quality customer service and efficient operations, which we believe will effectively position the Company to yield growth for our shareholders in the future."

Revenues
For the six months and quarter ended June 30, 2011, total revenues decreased marginally to $284.8 million and $140.7 million, respectively, compared to $285.8 million and $141.4 million for the same periods in 2010.

These comparisons include the results of operations in Colorado, Illinois, Virginia, Washington and Wisconsin where regulatory changes have reduced the Company's revenue and profitability in 2011, and Arizona, where the Company ceased operations in the third quarter of 2010.

Revenues in these six states were $10.7 million for the quarter ended June 30, 2011, compared to $20.2 million for the same period in 2010. Excluding revenues in those states, total revenues for the quarter ended June 30, 2011, increased by 7.3%, compared to the same period in 2010.

For the quarter ended June 30, 2011, total revenues for the Company's centers opened prior to April 1, 2010 and still open as of June 30, 2011 increased 3.8% compared to the same period in 2010.

Excluding centers in Colorado, Illinois, Virginia, Washington and Wisconsin, total revenues from the Company's centers opened prior to April 1, 2010 and still open as of June 30, 2011 increased 8.0% for the quarter ended June 30, 2011, compared to the same period in 2010.

Provision for Doubtful Accounts
The provision for doubtful accounts as a percentage of total revenues for the six months ended June 30, 2011 was 14.4%, compared to 13.2% for the same period in 2010. The provision for doubtful accounts as a percentage of total revenues for the quarter ended
June 30, 2011 was 19.4%, compared to 17.7% for the same period in 2010. The increase in the provision for both the six months and quarter ended June 30, 2011, as compared to the prior year, was primarily affected by the composition and amount of the seasonal increase in receivables which included a larger increase in both total and NSF accounts due to the delayed receipt of refunds by our customers this tax season. The provision was also affected by higher losses experienced by our operations in the United Kingdom. Additionally, the company did not sell any previously written-off receivables during 2011, compared to $0.1 million and $0.7 million during the three and six months ended June 30, 2010, respectively.

Expenses and Center Gross Profit
For the quarter ended June 30, 2011, the Company's advertising expense was $5.9 million, or 4.2% of total revenues, compared to $6.6 million, or 4.6% of total revenues, for the same period in 2010.

Total center expenses for the six months and quarter ended June 30, 2011 were $204.3 million and $108.6 million, respectively, compared to $211.9 million and $110.2 million for the same periods in 2010.

Center gross profit increased 8.8% to $80.4 million for the first six months of 2011 from $73.9 million in the same period in 2010. For the quarter ended June 30, 2011, center gross profit was $32.1 million compared to $31.1 million for the quarter ended June 30, 2010, an increase of 3.0%.

For the six months ended June 30, 2011, general and administrative expenses were $29.6 million compared to $33.3 million for the same period in 2010. General and administrative expenses for the quarter ended June 30, 2011 were $14.5 million compared to $16.6 million for the same period in 2010. The decrease in general and administrative expenses for the six months and quarter ended June 30, 2011 is due primarily to lower legal and professional fees.

Center Closings and Openings
During the quarter ended June 30, 2011, the Company closed or consolidated 10 centers in seven different states. The Company had approximately $0.3 million of center closing costs during the quarter ended June 30, 2011, compared to $1.4 million during the same period in 2010. Closing costs include severance, center tear-down costs, lease termination costs, and the write-down of fixed assets. The Company opened a total of five centers during the quarter ended June 30, 2011; three in the United States and two in the United Kingdom.

The Company has decided to close approximately 30 of its 44 centers in the state of Washington during the third quarter of 2011. The Company's revenue and profitability in Washington have decreased significantly since a law went into effect in January of 2010. The Company estimates closing costs, including severance, center tear-down costs, lease termination costs, and the write-down of fixed assets of these centers to be approximately $0.4 million, which will be primarily recognized in the third quarter.

As of June, 2011, the Company had an operating network of 2,342 centers and 55 limited licensees in 29 states, the United Kingdom, and Canada.

Income before Income Taxes
Income before income taxes for the first six months of 2011 increased 41.2% to $47.5 million compared to $33.6 million for the same period in 2010. Income before income taxes for the quarter ended June 30, 2011 increased to $15.8 million, compared to $9.6 million for the same period in 2010.

Income Tax Rate
The effective income tax rate as a percentage of income before income taxes was 44.0% and 44.6% for the six months ended June 30, 2011 and 2010, respectively.

The effective income tax rate as a percentage of income before income taxes was 45.7% and 46.4% for the three months ended June 30, 2011 and 2010, respectively.

Net Income and Earnings per Share
Net income for the first six months of 2011 increased 42.7% to $26.6 million compared to $18.6 million for the same period in 2010. Net income for the quarter ended June 30, increased 67.9% to $8.6 million, compared to $5.1 million for the same period in 2010.
Diluted earnings per share were $0.43 for the six months ended June 30, 2011, compared to diluted earnings per share of $0.30 for the same period in 2010. For the quarter ended June 30, 2011, diluted earnings per share were $0.14, compared to diluted earnings per share of $0.08 for the same period in 2010.

Cash Flow from Operations
Cash flow from operations for the six months ended June 30, 2011, increased 56.8% to $64.9 million, compared to $41.4 million for the same period in 2010.

Quarterly Dividend
Today, the Company's Board of Directors declared a regular quarterly dividend of $0.0625 per share. The dividend, the Company's 27th consecutive quarterly dividend, will be payable on September 2, 2011 to stockholders of record as of August 23, 2011.
Since its initial public offering in December 2004, the Company has returned approximately $396 million in cash to its stockholders through the repurchase of shares and the payment of quarterly dividends.

Conference Call
The Company will discuss its financial performance on a conference call Thursday, July 28, 2011 at 8:00 a.m. (ET).

To listen to this call, please dial the conference telephone number (877) 303-6168. This call will also be available via a live webcast accessed at Advance America's website www.advanceamerica.net. An audio replay of the call will be available online or by telephone at (855) 859-2056 (replay pass code: 83036899) until August 11, 2011.

# # #

About Advance America Cash Advance
Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,400 centers and 55 limited licensees in 29 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

# # #

Forward-Looking Statements and Information:
Certain statements contained in this release may constitute "forward-looking statements" within the meaning of federal securities laws. All statements in this release other than those relating to our historical information or current condition are forward-looking statements. For example, any statements regarding our future financial performance (including, but not limited to, the Company's ability to execute its long-term strategy and to manage operational efficiencies across its national footprint), our business strategy, and legislative and regulatory developments in our industry are forward-looking statements. Although we believe that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable. Therefore, actual results could differ materially from our expectations as of today and any future results, performance, or achievements expressed directly or impliedly by the forward-looking statements. For a more detailed discussion of some of the factors that may cause our actual results to differ from our current expectations, please refer to the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2010 a copy of which is available from the Securities and Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net

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Advance America Announces Appointment of James A. Ovenden as CFO and Executive VP

May 5, 2011
Jamie Fulmer

SPARTANBURG, S.C. - Advance America, Cash Advance Centers, Inc. (NYSE: AEA), announced today that its Board of Directors has appointed James A. Ovenden as Chief Financial Officer and Executive Vice President of the Company, effective May 23, 2011.

Mr. Ovenden, 48, has extensive financial and executive experience across a wide spectrum of industries. Since 2002, he has been the principal consultant with CFO Solutions of SC, LLC, a financial consulting business for middle market companies. From May 2009 to September 2010, he was the Chief Financial Officer of AstenJohnson Holdings Ltd., a manufacturer of paper machine clothing, specialty fabrics, filaments and drainage equipment.  In May 2004, he became a founding principal of OTO Development, Inc., a hospitality development company, where he served as Chief Financial Officer until December 2007. Mr. Ovenden also served as the Chief Financial Officer, Secretary and Treasurer of Extended Stay America, Inc. from January 2004 until May 2004, when the company was sold.  From 1987 until 2002, Mr. Ovenden was employed by CMI Industries, Inc., and served as Chief Financial Officer and Executive Vice President from 1993 until 2002.  He began his career with Peat Marwick in 1984. He is a Magna Cum Laude graduate of Furman University and received his Certificate of Public Accounting in 1987.

Mr. Ovenden currently serves on the board of directors of Flagstar Bancorp, Inc. and Haights Cross Communications, Inc., and previously served as a director and chairman of the audit committees of The Polymer Group (2003-2011) and Insight Health Services Holdings Inc. (2007-2011). Additionally, he served as the Chairman of the Special Committee of the Board Directors for The Polymer Group in conjunction with its sale to an affiliate of Blackstone Capital Partners V L.P. in January of 2011.

"We are excited to add someone with Jim's knowledge and experience to our executive team. He is a talented and proven executive with an impressive background," commented Patrick O'Shaughnessy, the Company's Chief Executive Officer.  "I am confident that Jim will provide us with exceptional financial leadership and that he will be a tremendous asset to our company as we execute our business strategy and continue to provide value to our stakeholders."

Mr. Ovenden will replace Mr. O'Shaughnessy, who was appointed to his current role on March 1, 2011.

# # #
About Advance America Cash Advance

Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,400 centers and 56 limited licensees in 30 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

# # #

Forward-Looking Statements and Information:
Certain statements contained in this release may constitute "forward-looking statements" within the meaning of federal securities laws.  All statements in this release other than those relating to our historical information or current condition are forward-looking statements.  For example, any statements regarding our future financial performance (including, but not limited to, the Company's ability to execute its long-term strategy, manage operational efficiencies across its national footprint, and provide value to our stakeholders), our business strategy, and expected developments in our industry are forward-looking statements.  Although we believe that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable.  Therefore, actual results could differ materially from our expectations as of today and any future results, performance, or achievements expressed directly or impliedly by the forward-looking statements.  For a more detailed discussion of some of the factors that may cause our actual results to differ from our current expectations, please refer to the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2010 a copy of which are available from the Securities and Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net

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Advance America First Quarter 2011 Earnings per Share of $0.29 Increase by 31.8% over First Quarter

April 27, 2011
Jamie Fulmer

SPARTANBURG, S.C. - Advance America, Cash Advance Centers, Inc. (NYSE: AEA) today reported the results of its operations for the quarter ended March 31, 2011.

Highlights of Quarter ended March 31, 2011:
•Diluted earnings per share for the quarter increased 31.8% over the same period in the prior year to $0.29.
•Net Income increased 33.2% over the same quarter in the prior year to $18.0 million.
•Income before income taxes for the quarter increased 31.4% to $31.6 million.
•Center gross profit for the quarter increased 13.1% to $48.4 million.
•Revenues for the quarter were $144.1 million.

Commenting on the results for the First Quarter of 2011, Advance America's President and Chief Executive Officer, Patrick O'Shaughnessy said, "Advance America has started 2011 with a solid first quarter. Despite fewer centers, our revenues for the quarter remained consistent, while our ongoing focus on operating more efficiently has resulted

in strong bottom-line results for our stakeholders. We believe these results are evidence that we offer a valuable and trusted option for hardworking families, and that our efforts to understand and respond to their varying needs and circumstances are succeeding. Although the economic environment remains challenging, we continue to see a steady demand for reliable and regulated short-term credit and are confident that this trend will continue well into the future."

Revenues

For the quarter ended March 31, 2011, total revenues decreased slightly to $144.1 million, compared to $144.4 million for the same period in 2010.

These comparisons include the results of operations in Colorado, Kentucky, South Carolina, and Virginia, where regulatory changes have reduced the Company's revenue and profitability, and Arizona, where the Company ceased operations in the third quarter of 2010. Revenues in these five states were $13.3 million for the quarter ended March 31, 2011, compared to $21.8 million for the same period in 2010. Excluding centers in those states, total revenues for the quarter ended March 31, 2011, increased by 6.7%, compared to the same period in 2010.

For the quarter ended March 31, 2011, total revenues for the Company's centers opened prior to January 1, 2010 and still open as of March 31, 2011 increased 5.9% compared to the same period in 2010.

Excluding centers in Colorado, Kentucky, South Carolina, and Virginia, total revenues from the Company's centers opened prior to January 1, 2010 and still open as of March

31, 2011 increased 13.9% for the quarter ended March 31, 2011, compared to the same period in 2010.

Provision for Doubtful Accounts

The provision for doubtful accounts as a percentage of total revenues for the quarter ended March 31, 2011 was 9.6%, compared to 8.8% for the same period in 2010. The Company received proceeds from the sale of previously written-off receivables during the first quarter of 2011 of approximately $7,000 compared with $0.5 million during the same period in 2010.

Expenses and Center Gross Profit

For the quarter ended March 31, 2011, the Company's advertising expense was $3.2 million, or 2.2% of total revenues, compared to $3.6 million, or 2.5% of total revenues, for the same period in 2010.

Center expenses for the quarter ended March 31, 2011 were $95.7 million, compared to $101.6 for the same period in 2010. Reduction in center expenses is primarily due to the Company's consolidation of certain centers during 2010.

Center gross profit was $48.4 million for the quarter ended March 31, 2011, compared to $42.8 million for the quarter ended March 31, 2010, an increase of 13.1%.

For the quarter ended March 31, 2011, general and administrative expenses were $15.1 million compared to $16.6 million for the same period in 2010. This reduction was primarily due to lower legal expenses during the quarter ended March 31, 2011.

Center Closings and Openings

During the quarter ended March 31, 2011, the Company closed or consolidated 10 centers in four different states. The Company had approximately $0.2 million of center closing costs during the quarter ended March 31, 2011, compared to $1.8 million during the same period in 2010. Closing costs include severance, center tear-down costs, lease termination costs, and the write-down of fixed assets. The Company opened a total of five centers during the quarter ended March 31, 2011; two in the United States and three in the United Kingdom.

As of March 31, 2011, the Company had an operating network of 2,347 centers and 56 limited licensees in 30 states, the United Kingdom, and Canada.

Income before Income Taxes

Income before income taxes for the quarter ended March 31, 2011 increased to $31.6 million, compared to $24.1 million for the same period in 2010.

Income Tax Rate

The effective income tax rate as a percentage of income before income taxes was 43.2% and 44.0% for the three months ended March 31, 2011 and 2010, respectively.

Net Income and Earnings per Share

Net income for the quarter ended March 31, 2011 was $18.0 million, compared to $13.5 million for the same period in 2010.

For the quarter ended March 31, 2011, diluted earnings per share were $0.29, compared to diluted earnings per share of $0.22 for the same period in 2010.

Quarterly Dividend

Today, the Company's Board of Directors declared a regular quarterly dividend of $0.0625 per share. The dividend, the Company's 26th consecutive quarterly dividend, will be payable on June 3, 2011 to stockholders of record as of May 24, 2011.

Since its initial public offering in December 2004, the Company has returned approximately $392.4 million in cash to its stockholders through the repurchase of shares and the payment of quarterly dividends.

Conference Call

The Company will discuss the results on a conference call Thursday, April 28, 2011 at 8:00 a.m. (ET).

To listen to this call, please dial the conference telephone number (877) 303-6168. This call will also be webcast live and can be accessed at Advance America's website www.advanceamerica.net. An audio replay of the call will be available online or by telephone at (800) 642-1687 (replay pass code: 57880007) until May 11, 2011.

# # #

About Advance America Cash Advance

Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,400 centers and 56 limited licensees in 30 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

# # #

Forward-Looking Statements and Information:

Certain statements contained in this release may constitute "forward-looking statements" within the meaning of federal securities laws. All statements in this release other than those relating to our historical information or current condition are forward-looking statements. For example, any statements regarding our future financial performance (including, but not limited to, the Company's ability to execute its long-term strategy and to manage operational efficiencies across its national footprint), our business strategy, and expected developments in our industry are forward-looking statements. Although we believe that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable. Therefore, actual results could differ materially from our expectations as of today and any future results, performance, or achievements expressed directly or impliedly by the forward-looking statements. For a more detailed discussion of some of the factors that may cause our actual results to differ from our current expectations, please refer to the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2010 a copy of which are available from the Securities and Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net

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Advance America Names Patrick O’Shaughnessy to Succeed Ken Compton as President and CEO

February 28, 2011

SPARTANBURG, S.C. - Advance America, Cash Advance Centers, Inc. (NYSE: AEA) announced today that its President and Chief Executive Officer, Kenneth E. Compton, retired on Feb. 28 after leading the Company for more than five years. Mr. Compton will continue to serve as a member of the Company's Board of Directors.

The Company's Board of Directors has unanimously elected J. Patrick O'Shaughnessy, the Company's current Executive Vice President and Chief Financial Officer, to succeed Mr. Compton as President and Chief Executive Officer. Mr. O'Shaughnessy will assume his new role today.

"After careful consideration and discussions with my family - and after a business career approaching 38 years - I have decided that it is time to step away," Mr. Compton said. "It has been a unique experience to be part of such a great organization. I am proud of what Advance America has accomplished during my tenure and I appreciate the wonderful support I have received from the Board and all of the Company's outstanding employees. Their hard work and dedication serves as a strong foundation for Advance America."

The Company's Chairman, William M. Webster, IV, commenting on today's announcement, said: "During his tenure, Ken has helped steer Advance America to its position as one of the nation's leading providers of consumer financial services, and has left an indelible mark on our business, employees and the industry. The Company is deeply grateful for his leadership during a challenging economic and policy environment and we are pleased that he will continue to serve on our Board to help ensure a smooth transition."

He added: "The Board is confident that Patrick's management experience, in-depth knowledge of the industry and vision for the business will enable him - along with our extremely talented executive team - to execute the Company's long-term strategy and to manage operational efficiencies across our national footprint."
Mr. O'Shaughnessy has served as a member of the Company's Board of Directors and as its Executive Vice President and Chief Financial Officer since August 2007.  He had previously held positions within the investment banking industry, with senior posts at Thomas Weisel Partners, Donaldson, Lufkin & Jenrette and Credit Suisse. Mr. O'Shaughnessy is a graduate of the University of Notre Dame, and received an MBA from the University of Chicago Graduate School of Business. He will remain a director of the Company.

"It has been a privilege to work closely with Ken for nearly four years," Mr. O'Shaughnessy said. "He showed a deep commitment to our shareholders, employees and customers. I look forward to working with our terrific executive team to continue operating our business efficiently and delivering value to our shareholders. Advance America will remain committed to our core service: providing simple, reliable and transparent financial services for American workers and their families."

About Advance America Cash Advance

Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,352 centers and 62 limited licensees in 30 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

# # #

Forward-Looking Statements and Information:
Certain statements contained in this release may constitute "forward-looking statements" within the meaning of federal securities laws.  All statements in this release other than those relating to our historical information or current condition are forward-looking statements.  For example, any statements regarding our future financial performance (including, but not limited to, the Company's ability to execute its long-term strategy and to manage operational efficiencies across its national footprint), our business strategy, and expected developments in our industry are forward-looking statements.  Although we believe that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable.  Therefore, actual results could differ materially from our expectations as of today and any future results, performance, or achievements expressed directly or impliedly by the forward-looking statements.  For a more detailed discussion of some of the factors that may cause our actual results to differ from our current expectations, please refer to the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2010, copies of which are available from the Securities and Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net

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Advance America Announces Results of the Fourth Quarter and Year and Declares Dividend

February 16, 2011
Jamie Fulmer

SPARTANBURG, S.C., - Advance America, Cash Advance Centers, Inc. (NYSE: AEA) today reported the results of its operations for the quarter and year ended December 31, 2010.

Highlights Year and Quarter ended December 31, 2010:
 

- Diluted earnings per share for the year and quarter were $0.58 and $0.26, respectively.
- Excluding net charges for legal settlements and pro forma tax rate detailed below, diluted earnings per share for the year would have been $0.77.
- Center gross profit for the quarter was $45.0 million.
- Income before income taxes for the quarter was $28.3 million.

Commenting on the results of the year and fourth quarter of 2010, Advance America's President and Chief Executive Officer, Ken Compton said, "Advance America closed the year with solid performance, posting strong results for the quarter and throughout 2010. While the regulatory environment at the state and federal levels continues to evolve, consumer demand for our service remains robust. This trend demonstrates a persistent need for reliable access to affordable short-term credit. As we look toward 2011, Advance America remains committed to providing a simple, transparent, and regulated credit option that delivers high rates of customer satisfaction and helps to meet the varied financial needs of hardworking consumers."

Revenues


For the year ended December 31, 2010, total revenues decreased 7.3% to $600.2 million, compared to $647.7 million for the same period in 2009. Total revenues for the quarter ended December 31, 2010 decreased 7.5% to $160.3 million, compared to $173.2 million for the same period in 2009.

These comparisons include the results of operations in Colorado, Kentucky, South Carolina, Virginia, and Washington, where regulatory changes have reduced the Company's revenue and profitability, and Arizona, where the Company ceased operations in the third quarter of 2010. Revenues in these six states were $78.7 million and $16.7 million for the year and quarter ended December 31, 2010, compared to $148.1 million and $34.7 million for the same periods in 2009. The Company expects to experience lower revenues in most of these where it continues to operate while consumers and competitors adjust to the new regulatory framework.

Excluding Arizona, Colorado, Kentucky, South Carolina, Virginia, and Washington, total revenues for the year and quarter ended December 31, 2010, increased by 4.4% and 3.6%, respectively, compared to the same periods in 2009.

For the quarter ended December 31, 2010, total revenues for the Company's centers opened prior to October 1, 2009 and still open as of December 31, 2010 decreased 0.2% compared to the same period in 2009.

Excluding Colorado, Kentucky, South Carolina, Virginia, and Washington, total revenues from the Company's centers opened prior to October 1, 2009 and still open as of December 31, 2010 increased 5.2% for the quarter ended December 31, 2010, compared to the same period in 2009.

Provision for Doubtful Accounts


The provision for doubtful accounts as a percentage of total revenues for the year ended December 31, 2010 was 17.4%, compared to 19.2% for the same period in 2009. Loss reserves were lower during the year ended December 31, 2010 compared to the same periods in 2009 due primarily to a reduction in the write-off rate, partially offset by reduced sales of previously written-off receivables. The Company sold approximately $0.7 million of previously written-off receivables during 2010 compared with $3.4 million in 2009.

For the quarter ended December 31, 2010, the provision for doubtful accounts as a percentage of total revenues was 20.7%, compared to 18.3% for the same period in 2009 due primarily to the sale of previously written-off receivables during the fourth quarter of 2009 and increased receivables from a customer account acquisition that occurred late in the fourth quarter of 2010. The Company did not sell any previously written-off receivables during the quarter ended December 31, 2010 compared to $1.3 million during the same period in 2009.

Legal Settlements


The results of the year ended December 31, 2010 include legal settlement expenses net of insurance reimbursements of $18.6 million, compared to $6.4 million for the same period in 2009. The Company believes presenting the effect net of legal settlement charges and the pro forma income tax rate on diluted earnings per share and income before income taxes provides a useful understanding of the Company's underlying operational performance and the materiality of those charges. Pro forma diluted earnings per share are calculated using a pro forma tax rate as if the legal settlement expense did not occur. Management uses this measure, among others, to assess the Company's continuing operations, and it also provides part of the basis for decisions regarding the compensation of management.

Expenses and Center Gross Profit


For the year ended December 31, 2010, the Company's advertising expense was $20.9 million, or 3.5% of revenue, compared to $22.2 million, or 3.4% of revenues, for the same period in 2009. For the quarter ended December 31, 2010, the Company's advertising expense was $5.2 million, or 3.2% of revenue, compared to $6.9 million, or 4.0% of revenue, for the same period in 2009.

Center expenses for the year and quarter ended December 31, 2010 were $445.1 million and $115.2 million, respectively, compared to $485.6 million and $123.5 million for the same periods in 2009.

For the year, center gross profit decreased 4.3% to $155.1 million in 2010 from $162.1 million in 2009. Center gross profit was $45.0 million for the quarter ended December 31, 2010, compared to $49.8 million for the quarter ended December 31, 2009, a decrease of 9.6%.
For the year ended December 31, 2010, general and administrative expenses were $62.5 million compared to $56.5 million for the same period in 2009. General and administrative expenses for the quarter ended December 31, 2010 were $14.9 million, compared to $14.4 million for the same period in 2009.

Center Closings


During the quarter ended December 31, 2010, the Company closed or consolidated 19 centers in 10 different states. The Company had approximately $0.4 million of center closing costs during the quarter ended December 31, 2010, compared to $1.4 million during the same period in 2009. Closing costs include severance, center tear-down costs, lease termination costs, and the write-down of fixed assets. For the year ended December 31, 2010, the Company closed or consolidated a total of 259 centers.

As of December 31, 2010, the Company had an operating network of 2,352 centers and 62 limited licensees in 30 states, the United Kingdom, and Canada.

Income before Income Taxes


Income before income taxes for 2010 decreased to $65.8 million, compared to $87.5 million for 2009. Income before income taxes for the quarter ended December 31, 2010 was $28.3 million, compared to $32.4 million for 2009.

Income Tax Rate


The effective income tax rate as a percentage of income before income taxes was 38.1% and 45.7% for the year ended December 31, 2009 and 2010, respectively. The increase in the effective tax rate in the current year is primarily a result of a reduction in state tax expense recognized in the prior year and lower pre-tax profits, primarily as a result of legal settlement charges, along with other discrete items recognized in the current year.

Net Income and Earnings per Share


Net income for 2010 was $35.8 million, compared to $54.2 million for 2009. Net income for the quarter ended December 31, 2010 was $15.8 million, compared to $19.8 million for 2009.

Diluted earnings per share were $0.58 for the year ended December 31, 2010, compared to diluted earnings per share of $0.88 for the same period in 2009. For the quarter ended December 31, 2010, diluted earnings per share were $0.26, compared to diluted earnings per share of $0.32 for the same period in 2009. Excluding the charges for legal settlements and using the pro forma tax rate described above, diluted earnings per share for the year ended December 31, 2010, would have been $0.77 compared to $0.94 for the same period in 2009.

Quarterly Dividend


Today, the Company's Board of Directors declared a regular quarterly dividend of $0.0625 per share. The dividend, the Company's 25th consecutive quarterly dividend, will be payable on March 11, 2011 to stockholders of record as of March 1, 2011.

Since its initial public offering in December 2004, the Company has returned approximately $387.2 million in cash to its stockholders through the repurchase of shares and the payment of quarterly dividends.

Conference Call


The Company will discuss the results on a conference call Thursday, February 17, 2011 at 8:00 a.m. (ET).

To listen to this call, please dial the conference telephone number (877) 303-6168. This call will also be webcast live and can be accessed at Advance America's website www.advanceamerica.net. An audio replay of the call will be available online or by telephone at (800) 642-1687 (replay pass code: 40330235) until March 2, 2011.

# # #

About Advance America Cash Advance
Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,352 centers and 62 limited licensees in 30 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

# # #

Forward-Looking Statements and Information:
Certain statements contained in this release may constitute "forward-looking statements" within the meaning of federal securities laws. All statements in this release other than those relating to our historical information or current condition are forward-looking statements. For example, any statements regarding our future financial performance (including, but not limited to, estimated costs associated with the consolidation/closing of centers and the effect of new legislation and regulation on our operations), our business strategy, and expected developments in our industry are forward-looking statements. Although we believe that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable. Therefore, actual results could differ materially from our expectations as of today and any future results, performance, or achievements expressed directly or impliedly by the forward-looking statements. For a more detailed discussion of some of the factors that may cause our actual results to differ from our current expectations, please refer to the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2010, copies of which are available from the Securities and Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net

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Advance America Announces Results of the Third Quarter 2010 and Declares Dividend

October 27, 2010
Jamie Fulmer

SPARTANBURG, S.C. - Advance America, Cash Advance Centers, Inc. (NYSE: AEA) today reported the results of its operations for the quarter and nine months ended September 30, 2010.

Highlights Nine Months and Quarter ended September 30, 2010:


- Diluted earnings per share for the nine months and quarter were $0.32 and $0.02, respectively.
- Excluding charges for legal settlements detailed below, diluted earnings per share for the nine months would have been $0.50 and $0.18 for the quarter.
- Center gross profit for the quarter was $36.2 million.
- Income before income taxes for the quarter was $3.9 million.
- Excluding legal settlements, income before income taxes for the quarter would have been $20.1 million.

Commenting on the results of the third quarter of 2010, Advance America's President and Chief Executive Officer, Ken Compton, said, "Despite the effects of charges related to legal settlements, our core results once again serve as a solid indication that our basic business approach - including judiciously managing our operations, controlling costs, and maintaining a strong balance sheet- continues to allow Advance America to manage our business in an uncertain economic and regulatory environment."

Revenues
For the nine months ended September 30, 2010, total revenues decreased 7.3% to $440 million, compared to $474.4 million for the same period in 2009. Total revenues for the quarter ended September 30, 2010 decreased 8.2% to $154.2 million, compared to $167.9 million for the same period in 2009.

These comparisons include the results of operations in Virginia, Washington, South Carolina, Kentucky, and Colorado where regulatory changes have reduced the Company's revenue and profitability, and Arizona, where the company ceased operations. Revenues in these six states were $62.0 million and $17.6 million for the nine months and quarter ended September 30, 2010, compared to $113.4 million and $35.4 million for the same periods in 2009. The Company expects to experience lower revenues in most of these states for some period of time as consumers adjust to the new regulatory framework.

Excluding Virginia, Washington, South Carolina, Kentucky, Colorado, and Arizona, total revenues for the nine months and quarter ended September 30, 2010, increased by 4.7% and 3.0%, respectively, compared to the same periods in 2009.
For the quarter ended September 30, 2010, total revenues for the Company's centers opened prior to July 1, 2009 and still open as of September 30, 2010 decreased 1.4% compared to the same period in 2009.
Excluding Virginia, Washington, South Carolina, Kentucky, Colorado, and Arizona, total revenues from the Company's centers opened prior to July 1, 2009 and still open as of September 30, 2010 increased 2.8% for the quarter ended September 30, 2010, compared to the same period in 2009.

Provision for Doubtful Accounts
The provision for doubtful accounts as a percentage of total revenues for the nine months ended September 30, 2010 was 16.2%, compared to 19.6% for the same period in 2009. Loss reserves were lower during the nine months and quarter ended September 30, 2010 compared to the same periods in 2009 due to lower loan balances and reduced losses on the Company's open-ended line of credit product in Virginia. The Company began offering a line of credit product in Virginia in November 2008; it ceased offering new lines of credit in February 2010, and stopped offering advances under existing lines on October 1, 2010.

For the quarter ended September 30, 2010, the provision for doubtful accounts as a percentage of total revenues was 21.6%, compared to 23.1% for the same period in 2009. The Company did not sell any previously written-off receivables during the quarters ended September 30, 2010 or September 30, 2009.

Legal Settlements
The results of the nine months ended September 30, 2010 include net legal settlement expenses of $18.6 million, compared to $6.4 million for the same period in 2009. For the quarter ended September 30, 2010, results include net legal settlement expenses of $16.2 million compared to $6.4 million for the same period in 2009. The Company believes presenting the effect of legal settlement charges on diluted earnings per share and income before income taxes provides a useful understanding of the Company's underlying operational performance and the materiality of those charges.

Expenses and Center Gross Profit
For the quarter ended September 30, 2010, the Company's advertising expense was $5.5 million, or 3.6% of revenue, compared to $4.2 million, or 2.5% of revenues, for the same period in 2009. The Company's advertising expenses tend to vary from quarter to quarter based on the timing of various initiatives and related business needs. The Company expects advertising expenses will be approximately 3.5% of revenue for 2010.

Center expenses for the nine months and quarter ended September 30, 2010 were $329.9 million and $118.0 million, respectively, compared to $362.1 million and $124.6 million for the same periods in 2009.

Center gross profit decreased 2.0% to $110.1 million for the first nine months of 2010 from $112.3 million in the same period in 2009. Center gross profit was $36.2 million for the quarter ended September 30, 2010, compared to $43.3 million for the quarter ended September 30, 2009, a decrease of 16.3%.

For the nine months ended September 30, 2010, general and administrative expenses were $47.6 million compared to $42.1 million for the same period in 2009. General and administrative expenses for the quarter ended September 30, 2010 were $14.4 million, compared to $14.3 million for the same period in 2009.

Center Closings
During the quarter ended September 30, 2010, the Company closed or consolidated 122 centers in 14 different states, 101 of which were in Arizona, Washington, and Colorado. The Company had approximately $2.4 million of center closing costs during the quarter ended September 30, 2010, compared to $0.2 million during the same period in 2009. Closing costs include severance, center tear-down costs, lease termination costs, and the write-down of fixed assets. For the nine months ended September 30, 2010, the Company closed or consolidated a total of 240 centers.

As of September 30, 2010, the Company had an operating network of 2,360 centers and 64 limited licensees in 31 states, the United Kingdom, and Canada.

Income before Income Taxes
Income before income taxes for the first nine months of 2010 decreased to $37.5 million, compared to $55.1 million for the same period in 2009. Income before income taxes for the quarter ended September 30, 2010 was $3.9 million, compared to $20.7 million for 2009. Excluding net legal settlements of $16.2 million and $6.4 million, respectively, income before income taxes was $20.1 million for the quarter ended September 30, 2010 and $27.1 million for the same period in 2009.

Income Tax Rate
The effective income tax rate as a percentage of income before income taxes was 64.3% and 39.3% for the three months ended September 30, 2010 and 2009, respectively. The effective income tax rate as a percentage of income before income taxes was 46.7% and 37.7% for the nine months ended September 30, 2010 and 2009, respectively. The increase in the effective tax rate in the current year is primarily a result of a reduction in state tax expense recognized in the prior year and lower pre-tax profits, primarily as a result of the legal settlement charges, along with other discrete items recognized in the current year.

Net Income and Earnings per Share
Net income for the first nine months of 2010 was $20.0 million, compared to $34.4 million for the same period in 2009. Net income for the quarter ended September 30, 2010 was $1.4 million, compared to $12.6 million for 2009.

Diluted earnings per share were $0.32 for the nine months ended September 30, 2010, compared to diluted earnings per share of $0.56 for the same period in 2009. For the quarter ended September 30, 2010, diluted earnings per share were $0.02, compared to diluted earnings per share of $0.20 for the same period in 2009. Excluding the charges for legal settlements described above, diluted earnings per share for the nine months and quarter ended September 30, 2010, would have been $0.50 and $0.18, respectively, compared to $0.62 and $0.27 for the same periods in 2009.

Quarterly Dividend
Today, the Company's Board of Directors declared a regular quarterly dividend of $0.0625 per share. The dividend, the Company's 24th consecutive quarterly dividend, will be payable on December 3, 2010 to stockholders of record as of November 23, 2010.
Since our December 2004 initial public offering, the Company has returned approximately $383.3 million in cash to its stockholders through the repurchase of shares and the payment of quarterly dividends.

Conference Call
The Company will discuss the results on a conference call Thursday, October 28, 2010 at 8:00 a.m. (ET).

To listen to this call, please dial the conference telephone number (877) 303-6168. This call will also be webcast live and can be accessed at Advance America's website www.advanceamerica.net. An audio replay of the call will be available online or by telephone (800) 642-1687 (replay passcode: 15327357) until November 11, 2010.

About Advance America Cash Advance
Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,360 centers and 64 limited licensees in 31 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

# # #

Forward-Looking Statements and Information:

Certain statements contained in this release may constitute "forward-looking statements" within the meaning of federal securities laws. All statements in this release other than those relating to our historical information or current condition are forward-looking statements. For example, any statements regarding our future financial performance (including, but not limited to, estimated costs associated with the consolidation/closing of centers and the effect of new legislation and regulation on our operations), our business strategy, and expected developments in our industry are forward-looking statements. Although we believe that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable. Therefore, actual results could differ materially from our expectations as of today and any future results, performance, or achievements expressed directly or impliedly by the forward-looking statements. For a more detailed discussion of some of the factors that may cause our actual results to differ from our current expectations, please refer to the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2010, copies of which are available from the Securities and Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net

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National Urban League and AdvanceAmerica Launch New Executive Leadership Initiative

July 30, 2010
Jamie Fulmer

WASHINGTON, DC -As part of its Centennial Celebration, the National Urban League (NUL) today announced the launch of a new Director Inclusion Initiative to be offered in partnership with Advance America, Cash Advance Centers, Inc. (NYSE: AEA) - the nation's leading provider of cash advance services. The program will provide training that aims to address the serious underrepresentation of African Americans on various NYSE and NASDAQ boards of directors.

"We are proud to collaborate with Advance America to provide this opportunity for aspiring African-American business leaders, who deserve a chance to learn from the best and brightest senior executives in America," said Marc Morial, president and CEO of NUL. "With Advance America's support, the National Urban League will be able to equip qualified professionals with the tools and training they need to be successful in the office, in the boardroom and in their communities."

The Director Inclusion Initiative is a nationally acclaimed Professional Director Certification Program that will be led by experts in the fields of governance and responsibility, audit practices, and executive issues. The initial session begins on October 13, 2010 and will accommodate approximately six to eight participants annually.

"Under the National Urban League's direction, the Inclusion Initiative will empower dozens of new executives to lead significant roles in public companies nationwide. These individuals can bring a fresh perspective to the corporate world that will help stimulate creativity and new business innovations," said William Webster, chairman of the Board of Directors for Advance America. "By embracing a diversity of people, we embrace a diversity of ideas - a principle that has served businesses, and our country, well."

Each candidate must qualify through an application process and review of their previous executive-level experience, education, and references. Participant scholarships will be provided for program tuition, travel and lodging. For more information on the program and details about the training, please visit: http://corporatedirectorsgroup.com/.

About The National Urban League
Founded in 1910, The National Urban League (NUL) is a historic civil rights organization dedicated to economic empowerment, working to promote elevated standards of living in historically undeserved urban communities.   Today, there are more than 100 local affiliates in 36 states and the District of Columbia, providing direct services that impact and improve the lives of more than 2 million people nationwide. Please visit www.nul.org for more information.

About Advance America
Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of cash advance services, with approximately 2,400 centers and 72 limited licensees in 32 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

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Advance America Announces Results of the 2nd Quarter 2010 and Declares Dividend

July 28, 2010
Jamie Fulmer

SPARTANBURG, S.C. - Advance America, Cash Advance Centers, Inc. (NYSE: AEA) today reported the results of its operations for the quarter and six months ended June 30, 2010.
Highlights Six Months and Quarter ended June 30, 2010:
•Diluted earnings per share for the six months and quarter were $0.30 and $0.08, respectively
•Excluding charges of $2.4 million for legal settlements, diluted earnings per share for the six months and quarter would have been $0.32 and $0.10, respectively
•Center gross profit for the quarter increased $6.5 million to $31.1 million, which represents a 26.2% increase over the same period for the prior year
•Income before income taxes for the quarter was $9.6 million, an increase of 10.0% over the same period for the prior year
•Excluding legal settlements, income before income taxes for the quarter was $11.9 million, an increase of 37.0% over the same period for the prior year


Commenting on the results of the second quarter of 2010, Advance America's President and Chief Executive Officer, Ken Compton, said, "Advance America continues to deliver solid results in the face of challenging regulatory environments and costs associated with legal settlements and costs related to center consolidations. We believe our overall strength suggests that the demand for our service will persist well into the future. Amid an active public discourse on the personal financial needs of consumers, Advance America's performance is evidence that customers are satisfied with our services and that we provide a valuable alternative to other options in the evolving financial services landscape."

Revenues
For the six months ended June 30, 2010, total revenues decreased 6.8% to $285.8 million, compared to $306.5 million for the same period in 2009. Total revenues for the quarter ended June 30, 2010 decreased 5.8% to $141.4 million, compared to $150.1 million for the same period in 2009.

These comparisons include the results of operations in Virginia, Washington, South Carolina, and Kentucky, where regulatory changes have reduced the Company's revenue and profitability. Revenues in these four states were $31.4 million and $14.1 million for the six months and quarter ended June 30, 2010, compared to $65.0 million and $28.9 million for the same periods in 2009. Based on past experience, the Company expects to experience lower revenue in these states for the next several quarters.

Excluding Virginia, Washington, South Carolina, and Kentucky, total revenues for both the six months and quarter ended June 30, 2010, increased by 5.4% and 5.0%, respectively, compared to the same periods in 2009.

For the quarter ended June 30, 2010, total revenues for the Company's centers opened prior to April 1, 2009 and still open as of June 30, 2010 decreased 0.7% compared to the same period in 2009.

Excluding Virginia, Washington, South Carolina, and Kentucky, total revenues from the Company's centers opened prior to April 1, 2009 and still open as of June 30, 2010 increased 7.9% for the quarter ended June 30, 2010, compared to the same period in 2009.

Provision for Doubtful Accounts
The provision for doubtful accounts as a percentage of total revenues for the six months ended June 30, 2010 was 13.2%, compared to 17.7% for the same period in 2009. For the quarter ended June 30, 2010, the provision for doubtful accounts as a percentage of total revenues was 17.7%, compared to 22.0% for the same period in 2009. Loss reserves were lower during the six months and quarter ended June 30, 2010 compared to the same periods in 2009 due to lower loan balances and reduced losses on the Company's open-ended line of credit product in Virginia. The Company began offering a line of credit product in Virginia in November 2008 and ceased offering new lines of credit in February 2010. The provision for doubtful accounts was reduced by approximately $0.1 million from the sale of previously written-off receivables during the quarter ended June 30, 2010, compared with $2.2 million during the same period in 2009.

Expenses and Center Gross Profit
For the quarter ended June 30, 2010, the Company's advertising expense was $6.6 million, or 4.6% of revenue, compared to $8.9 million, or 6.0% of revenues, for the same period in 2009. The Company's advertising expenses tend to vary from quarter to quarter based on the timing of various initiatives and business needs.  The Company expects advertising expenses will be approximately 3.0% to 3.5% of revenue for 2010.

Center expenses for the six months and quarter ended June 30, 2010 were $211.9 million and $110.2 million, respectively, compared to $237.5 million and $125.5 million for the same periods in 2009.

Center gross profit increased 7.0% to $73.9 million for the first six months of 2010 from $69.1 million in the same period in 2009. For the quarter ended June 30, 2010,
center gross profit was $31.1 million compared to $24.7 million for the quarter ended June 30, 2009, an increase of 26.2%.

For the six months ended June 30, 2010, general and administrative expenses were $33.3 million compared to $27.9 million for the same period in 2009. General and administrative expenses for the quarter ended June 30, 2010 were $16.6 million compared to $13.8 million for the same period in 2009.  The increase in general and administrative expenses for the six months and quarter ended June 30, 2010 is due primarily to higher legal and consulting expenses.

Legal Settlements
The results of both the six months and quarter ended June 30, 2010 include legal settlement expenses of $2.4 million, including $2.0 million related to the previously disclosed settlement of a lawsuit in Missouri.   Management believes presenting the effect of legal settlement charges on diluted earnings per share and income before income taxes provides a useful understanding of the Company's underlying operational performance and the materiality of those charges.

Center Closings
During the quarter ended June 30, 2010, the Company closed or consolidated 26 centers in 12 different states. As the Company previously announced, it has also decided to close approximately 125 centers during the third and fourth quarters of 2010. Many of these centers are in Arizona, Colorado, and Washington where legislative and regulatory events have negatively affected operations. The Company had approximately $1.4 million of center closing costs during the quarter ended June 30, 2010, compared to $1.7 million during the same period in 2009. Closing costs include severance, center tear-down costs, lease termination costs, and the write-down of fixed assets.  The Company now estimates that additional costs associated with the previously announced closings to range between $2.8 and $5.0 million, all of which is expected to be incurred during the third and fourth quarters of 2010.

As of June 30, 2010, the Company had an operating network of 2,476 centers and 72 limited licensees in 32 states, the United Kingdom, and Canada.

Income before Income Taxes
Income before income taxes for the first six months of 2010 decreased 2.3% to $33.6 million compared to $34.4 million for the same period in 2009. Income before income taxes for the quarter ended June 30, 2010 was $9.6 million compared to $8.7 million for 2009, an increase of 10.0%. Excluding legal settlements of $2.4 million, income before income taxes for the quarter was $11.9 million, an increase of 37.0% over the prior year.

Income Tax Rate
The effective income tax rate as a percentage of income before income taxes was 46.4% and 23.5% for the three months ended June 30, 2010 and 2009, respectively. The effective income tax rate as a percentage of income before income taxes was 44.6% and 36.7% for the six months ended June 30, 2010 and 2009, respectively.   The increase in the effective tax rate in the current year is primarily a result of a one-time reduction in state tax expense recognized in the prior year and other discrete items recognized in the current year.

Net Income and Earnings per Share
Net income for the first six months of 2010 decreased 14.6% to $18.6 million compared to $21.8 million for the same period in 2009. Net income for the quarter ended June 30, 2010 was $5.1 million compared to $6.6 million for 2009, a decrease of 22.9%.

Diluted earnings per share were $0.30 for the six months ended June 30, 2010, compared to diluted earnings per share of $0.35 for the same period in 2009. For the quarter ended June 30, 2010, diluted earnings per share were $0.08, compared to diluted earnings per share of $0.11 for the same period in 2009. Excluding the $2.4 million charge for legal settlements, diluted earnings per share for the six months and quarter ended June 30, 2010, would have been $0.32 and $0.10, respectively.

Quarterly Dividend
Today, the Company's Board of Directors declared a regular quarterly dividend of $0.0625 per share. The dividend, the Company's 23rd consecutive quarterly dividend, will be payable on September 3, 2010 to stockholders of record as of August 24, 2010.

Since our December 2004 initial public offering, the Company has returned approximately $379.4 million in cash to its stockholders through the repurchase of shares and the payment of quarterly dividends.

Conference Call
The Company will discuss the results on a conference call Thursday, July 29 at 8:00 a.m. (ET).

To listen to this call, please dial the conference telephone number (877) 303-6168. This call will also be webcast live and can be accessed at Advance America's website www.advanceamerica.net.  An audio replay of the call will be available online or by telephone (800) 642-1687 (replay passcode: 86621659) until August 11, 2010.

About Advance America Cash Advance

Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,400 centers and 72 limited licensees in 32 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

# # #

Forward-Looking Statements and Information:
Certain statements contained in this release may constitute "forward-looking statements" within the meaning of federal securities laws.  All statements in this release other than those relating to our historical information or current condition are forward-looking statements.  For example, any statements regarding our future financial performance (including, but not limited to, estimated costs associated with the consolidation/closing of centers and the effect of new legislation and regulation on our operations), our business strategy, and expected developments in our industry are forward-looking statements.  Although we believe that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable.  Therefore, actual results could differ materially from our expectations as of today and any future results, performance, or achievements expressed directly or impliedly by the forward-looking statements.  For a more detailed discussion of some of the factors that may cause our actual results to differ from our current expectations, please refer to the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2010, copies of which are available from the Securities and Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net

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Advance America Presents $50,000 Donation to Spartanburg Community Organizations

July 27, 2010
Jamie Fulmer

SPARTANBURG, S.C. - Advance America, the nation's leading provider of non-bank cash advance services, today announced $50,000 in charitable contributions to United Way of the Piedmont and the Spartanburg Soup Kitchen. The announcement also marked the end of the entry period for the company's "America Deserves a Raise" essay contest.

"We view the 'America Deserves a Raise' campaign not only as a way to acknowledge those individuals who form the backbone of our economy, but also as a way to give back directly to the communities we serve," said Ken Compton, chairman and CEO of Advance America. "The United Way of the Piedmont and the Spartanburg Soup Kitchen have long records of exceptional service in this community, and we are pleased to acknowledge their efforts with a well-deserved raise."

Each donation will support activities in the local Spartanburg community, where Advance America is headquartered. The United Way of the Piedmont will use the contribution to support its Gifts-In-Kind Center, which helps provide necessary supplies to more than 130 non-profit organizations that offer assistance to those in need.

The Spartanburg Soup Kitchen will use Advance America's contribution to help finance the construction of their new facility. Relying on private donations and the assistance of churches from around Spartanburg, the kitchen serves more than 550 meals each day to men, women and children, and recently experienced a 40 percent increase in the number of guests served.

"These organizations have spent countless hours serving hardworking individuals who find themselves in a tight spot," Compton said. "We believe their work speaks to the core foundation of our company - serving people where they live, work and raise families."

Advance America committed to donating $1 (up to $50,000) for every vote cast to decide the winner of its "America Deserves a Raise" essay contest and sweepstakes to honor and reward hardworking Americans. Entrants nominated someone they know, or themselves, for the contest's Grand Prize by submitting essays explaining why an individual "deserves a raise." The general public was invited to read and rate the stories on the contest's website to help determine the most deserving nominee. A panel of judges has begun reviewing the top 100 essays, and will announce the winners in August.

About Advance America:

Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,400 centers and 72 limited licensees in 32 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

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Advance America Announces Decision to Cease Operations in Arizona

July 8, 2010
Jamie Fulmer

SPARTANBURG, S.C.- Advance America, Cash Advance Centers, Inc. (NYSE:
AEA), announced today its intention to cease operations in its 47 centers in Arizona. The
decision to cease operations comes after the existing law permitting cash advances in Arizona
expired on June 30, 2010 and the Company concluded that an economically viable alternative
product or service does not currently exist.
 

Commenting on today's announcement, the Company's President and Chief Executive Officer
Ken Compton said, "We are disappointed that we will be unable to continue serving consumers
in Arizona. Our customers have consistently told us that they are highly satisfied with our
services. Advance America strongly believes that a regulated, competitive and transparent
financial environment benefits consumers. We believe that consumers are best served when they
can choose the financial service that best suits their needs, and in many cases, that may be a cash
advance. We regret that we can no longer serve the interests of many Arizonans."

For the three months ended March 31, 2010, total revenues and center gross profit generated
from the Company's operations in Arizona was approximately $3.7 million, and $1.5 million
respectively.

In a separate decision, the Company has decided to close approximately 75 additional centers,
approximately 55 of which are located in Washington and Colorado which have had recent law
changes. The operations of majority of these centers will be consolidated with those of nearby
centers.
 

The Company estimates that the costs associated with the cessation of operations in Arizona and
the closing of the additional centers will be between $2.8 and $5.0 million, with approximately
$1.0 million to be incurred during the second quarter of 2010 and the remainder to be incurred
during the third and fourth quarters of 2010.

About Advance America Cash Advance
Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading
provider of non-bank cash advance services, with approximately 2,400 centers and 72 limited licensees in
32 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to
consumers whose needs are not met by traditional financial institutions. The Company is a founding
member of the Community Financial Services Association of America (CFSA), whose mission is to
promote laws that provide substantive consumer protections and to encourage responsible industry
practices. Please visit www.advanceamerica.net for more information.

# # #

Forward-Looking Statements and Information:
Certain statements contained in this release may constitute "forward-looking statements" within the meaning of
federal securities laws. All statements in this release other than those relating to our historical information or
current condition are forward-looking statements. For example, any statements regarding our future financial
performance (including estimated costs associated with the cessation of operations), our business strategy, and
expected developments in our industry are forward-looking statements. Although we believe that the current
views and expectations reflected in these forward-looking statements are reasonable, those views and
expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of
which are not under our control and may not even be predictable. Therefore, actual results could differ
materially from our expectations as of today and any future results, performance, or achievements expressed
directly or impliedly by the forward-looking statements. For a more detailed discussion of some of the factors
that may cause our actual results to differ from our current expectations, please refer to the "Risk Factors"
section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and our Quarterly
Report on Form 10-Q for the quarter ended March 31, 2010, copies of which is available from the Securities and
Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net

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50,000 Votes and Counting in “America Deserves A Raise” Contest

May 13, 2010
Jamie Fulmer

SPARTANBURG, S.C. - Advance America, the nation's leading provider of cash advance services, today announced that over 50,000 votes have been cast for individual entries in its "America Deserves A Raise" contest. The company has committed to donating $1 for each of these votes, a total of $50,000, to a charitable organization that will be named in July.

Contestants are nominating someone they know, or themselves, for the raise of a lifetime by submitting short essays that describe a special accomplishment, a job well done or simply consistent hard work. Friends, family members and supporters are invited to read and rate the stories to help determine the most deserving nominee on the contest's website.

"These are truly inspiring stories of the hardworking individuals who advance America everyday.  And, there is still time to share your story," said Trudy Boyles, chief marketing officer of Advance America.

"We have already received more than a thousand entries nominating Americans who deserve a raise and we are thrilled. Each story is compelling in its own way - recognizing teachers, parents, mentors and veterans for their strong commitment to their jobs and communities."

Contest submissions will be accepted through July 27, 2010. The top rated one hundred essays will be reviewed by a panel of judges to determine first and second place winners. The campaign involves prizes of more than $100,000, including daily opportunities to win $100 Visa® Gift Cards. Contest rules and submission information are available at www.AmericaDeservesARaise.com. Please visit us on Facebook and Twitter @UAdvanceAmerica.

About Advance America

Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of cash advance services, with approximately 2,400 centers and 72 limited licensees in 32 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit http://www.advanceamerica.net for more information.

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Forward-Looking Statements and Information:
Certain statements contained in this release may constitute "forward-looking statements" within the meaning of federal securities laws.  All statements in this release other than those relating to our historical information or current condition are forward-looking statements.  For example, any statements regarding our future financial performance, our business strategy, and expected developments in our industry are forward-looking statements.  Although we believe that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable.  Therefore, actual results could differ materially from our expectations as of today and any future results, performance, or achievements expressed directly or impliedly by the forward-looking statements.  For a more detailed discussion of some of the factors that may cause our actual results to differ from our current expectations, please refer to the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2010,  copies of which are available from the Securities and Exchange Commission, upon request from us, or by going to our website: www.advanceamerica.net.

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Contribution from Advance America Supports Energy Policy Institute For Latino Leaders

May 7, 2010
Jamie Fulmer

Leading Financial Services Company Provides Grant for NALEO Educational Fund Policy Institute on Sustainable Communities

HOUSTON, TX - Advance America, the nation's leading provider of cash advance services, today announced it has provided a corporate sponsorship for the NALEO Educational Fund to support the seminar, "Energy: Understanding Its Impact on State and Local Policymakers" as part of the organization's Policy Institute on Sustainable Communities.

"Advance America is pleased to sponsor this forum on energy as part of our continued support for the NALEO Educational Fund," said Deborah Reyes, vice president of government affairs for Advance America. "We are proud to be a part of this effort to equip Latino leaders with the tools necessary to shape policies that will improve lives and develop stronger communities. These goals and this program are consistent with our corporate commitment of giving back."

The three-day intensive seminar will take place at the Hotel Icon in Houston from May 6-8, and aims to expand the knowledge of Latino state, county and municipal elected officials on the issue of energy use and affordability in the United States. Attendees will have an opportunity to participate in a series of panels, discussion sessions and strategy groups on issues such as traditional energy sources and their affordability; the prospect of continuing to use these energy sources in the future; and emerging sources of renewable energy. Participants will also hear from leading energy experts from the public, private and non-profit sectors.

"The goal of the Sustainable Communities Initiative is to provide Latino state legislators, municipal and county officials with the enhanced capacity and governance skills they need to become effective leaders and advocates for their communities," said Karyn Piña, deputy executive director of NALEO Educational Fund. "Advance America's generous support enables us to provide critical information and resources that will promote the success of these leaders and benefit the broader Latino community."

For more information please visit www.naleo.org.


About Advance America:

Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of cash advance services, with approximately 2,400 centers and 72 limited licensees in 32 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

About NALEO Educational Fund:

The NALEO Educational Fund is the nation's leading non-profit organization that facilitates the full participation of Latinos in the American political process, from citizenship to public service. A nonpartisan 501(c) (3) organization first established in 1981, NALEO Educational Fund carries out its mission through programs that integrate Latinos fully into American political society, provide professional development opportunities and technical assistance to the nation's more than 6,000 Latino elected and appointed officials, and monitor and conduct advocacy on issues important to the Latino community and our political participation.

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