Founded in 1951Advanta has long been an innovator in developing and introducing many of themarketing techniques that are common in the financial

Founded in 1951,Advanta has long been an innovator in developing and introducing many of themarketing techniques that are common in the financial services industry today.Learn more about Advanta at This Press Release contains forward-looking statements that are subject tocertain risks and uncertainties that could cause actual results to differ fromthose projected. Advanta`s exclusive focus on thismarket as well as its size, experience, and commitment to developing meaningfulproduct offerings and a high level of service tailored to the needs of smallbusinesses differentiates the company from other issuers. About AdvantaAdvanta is one of the nation`s largest credit card issuers (through Advanta BankCorp.) in the small business market today. The conference call may include a discussion ofnon-GAAP financial measures, which are reconciled to the most directlycomparable GAAP financial measures in the Company`s press releases or thestatistical supplements also available on the Company`s website. Beginning at about 11:00 thismorning, a replay of the call will be available on the Internet at the samesites as the original webcast.

At the same time, the call will be webcast via a Vcall link onAdvanta`s website or at Those interested in listeningto the webcast should go to the website at least ten minutes before the call toregister and download any necessary software. Thecall can be accessed by dialing 800-533-9703 and referring to confirmation code9183497. Conference Call DetailsAdvanta management will hold a conference call with analysts and institutionalinvestors today, April 30, at 9:00 a.m Eastern Time, to review this news. The Company has elected to deferpayments on the trust preferred securities and to suspend payment of common andpreferred dividends, which were largely curtailed earlier in the year. The terms of the trust preferred securities providethat semi-annual payments on the securities can be deferred at the Company`selection and that no payments of dividends can be made on the Company's commonor preferred stocks during the deferral period.

The Company`s purchase andretirement of these securities would increase the Company`s stockholders` equityand reduce future expenses. The securities have recently traded at under 10% of face value andthe tender price will be related to those trades. TheCompany expects to make a tender offer for all of the trust preferredsecurities. The managed and owned 12 month lagged net creditloss rates were 12.2% and 10.7%, respectively.Also, Advanta Capital Trust I has $100 million of trust preferred securitieswhich are backed by the Company`s junior subordinated long term debt.