Enhancing the financial performance of credit intensive assets through proven liquidity programs

News

First Financial Asset Management Lands $420 Million Forward Flow Contract

Atlanta, GA – January 8, 2008 – First Financial Asset Management (FFAM), headquartered in Atlanta, announced today that its subsidiary First Financial Portfolio Management (FFPM) has re-entered into a substantial forward flow receivables purchase agreement, awarded by one of the world's largest credit card issuers.

The portfolio of fresh charged-off credit card assets will have an aggregated value of approximately $420 Million U.S. dollars. These assets will be acquired under a forward flow transaction holding an initial term of 12 months, starting January 2008, ending December 2008. Further terms of the deal could not be disclosed at this time.

This mutually advantageous deal is the result of a long-term relationship that has developed over the last five years between First Financial and this credit card issuer.

"We are extremely pleased to be able to structure such a substantial portfolio purchase transaction with one of the world’s foremost banking institutions," stated Matthew Maloney, Executive Vice President for First Financial." Maloney added, "in the face of a struggling U.S. economy and future economic uncertainties surrounding the credit markets, the proprietary investment strategies and liquidity solutions offered by First Financial have been able to bring tremendous value to corporations throughout the U.S."

Maloney further added that this deal "will continue to open up opportunities, not only with this particular bank, but also with other corporations across the globe. The nimbleness displayed by all parties proves that FFAM continues to be an excellent financial partner for banks and lending institutions across the U.S."

About First Financial Asset Management
First Financial Asset Management, Inc. (FFAM) and the First Financial Group of Companies are a U.S.-based accounts receivable management firm providing strategic outsourcing services and portfolio acquisition and sale services of distressed and non-performing credit intensive assets emanating from the risk management industry.

	Accounts Receivable Management Our proprietary targeting system gets you more return for less cost --- and less hassle. We can show you the numbers -- FFAM works >
	Asset Acquisition Alliance^® The FFAM Asset Acquisition Alliance is a cooperative alliance designed specifically for state and regionally focused buyers and servicers of credit intensive assets. Let us show you >
	Featured Awards 2007 Vendor of the Year Awarded by a Top 5 U.S. Bank 2007 Best Customer Service Award Awarded by #1 U.S. Insurance Company Contact us to learn more >

News

First Financial Asset Management Lands $420 Million Forward Flow Contract

Accounts Receivable Management

Asset Acquisition Alliance®

Featured Awards

Asset Acquisition Alliance^®