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EZCORP Invests In Three Major Growth Drivers



                 EZCORP Invests In Three Major Growth Drivers

PR Newswire

AUSTIN, Texas, Dec. 20, 2012

AUSTIN, Texas, Dec. 20, 2012 /PRNewswire/ -- EZCORP, Inc. (NASDAQ: EZPW) has
completed three investments that further expand its capacity to provide
customers with instant cash solutions where they want, when they want and how
they want.  These investments enlarge the Company's global distribution
network, add or enhance delivery channels and bring highly skilled, innovative
talent to organization.  The Company today announced today the following
developments:

  o It has closed the previously announced acquisition of U.S. online lender
    Go Cash;
  o It has increased its investment in Cash Converters International Limited;
    and
  o It has begun expansion in the Arizona market through the 12-store
    acquisition of USA Pawn & Jewelry. 

(Logo: http://photos.prnewswire.com/prnh/20090713/EZCORPLOGO)

Jump Starts Online Lending Business

EZCORP today completed the previously announced purchase of Go Cash, a U.S.
based online lender.  James R. Carnes, the founder and president of Go Cash
and an industry leader, has joined EZCORP as President, Online Services.  He
will lead a management group with significant experience in online lending; an
internal decision science analytics team to support stores, channels and
products, both domestically and internationally; and experienced customer
service and collections call center staff.

The performance-based purchase price consists of an initial payment of $27
million (which was paid at the closing) and guaranteed supplemental payments
of $11 million at the end of the first year and $6 million at the end of each
of the second and third years.  The performance element will be based on the
net income generated by the business.  At the end of each of the first four
years following the closing, EZCORP will make a contingent supplemental
payment equal to six times net income (subject to certain adjustments), minus
all consideration payments previously paid.

For the $27 million closing payment, EZCORP issued 1,400,198 shares of its
Class A Non-Voting Common Stock valued at $19.283 per share, the average
closing sales price for the preceding ten trading days.

Paul E. Rothamel, EZCORP's President and Chief Executive Officer, stated:
 "The Go Cash acquisition supports our multi-channel and product strategy, and
provides us with the capability to quickly build a significant online presence
with a seasoned management team, proven underwriting models and a sizable list
of potential customers.  We also plan to leverage the Go Cash platform to
provide innovative loan products that allow customers to better interact with
us when and how they want — whether it be online, in stores or a combination."

The Online Services business unit will be managed by Change Capital, the
EZCORP division that leads and manages EZCORP's strategic investment program. 
Change Capital's mission within EZCORP is to add markets, channels, products
and talent, and to identify synergies and implement global best practices
throughout all EZCORP business units and affiliates.  Its portfolio of
businesses currently includes Albemarle & Bond Holdings PLC (ABM.L), Cash
Converters International Limited (CCV.ASX), Crediamigo, TUYO and Cash Genie.

Endorses Cash Converters International Growth Initiatives

The Company also made an additional investment in Cash Converters
International Limited to fund growth.  Cash Converters has stated that the new
funds will be used to acquire stores within its franchised network, to open
new corporate-owned stores and to finance the growth of the Australian and
U.K. personal loan books.

EZCORP acquired an additional 12,430,000 ordinary shares at AUS $0.85 per
share.  This acquisition was part of a share placement by Cash Converters of
38.5 million shares, and preserves EZCORP's ownership percentage at
approximately 33%.

Cash Converters previously announced that its unaudited earnings before
interest and taxes (EBIT) for the first quarter of fiscal 2013 (ended
September 30, 2012) increased 43% compared to the first quarter of fiscal
2012. Cash Converters operates a global network of almost 700 company-owned
and franchised stores in Australia, U.K. and 15 other countries primarily in
Europe and Asia.

Mr. Rothamel stated, "We are excited to support Cash Converters' growth
initiatives as part of our Change Capital portfolio.  Cash Converters is the
buy/sell global leader with a proven platform that we use in Canada and the
U.S.  We continue to believe that buy/sell models, such as those offered by
Cash Converters and TUYO in Mexico, represent an important alternative channel
for our target customers and a meaningful opportunity for growth and
diversification.  The Cash Converters team is highly skilled in developing
innovative new consumer loan products, and we continue to explore
opportunities to partner with them."

Cash Converters has grown substantially while associated with EZCORP.  EZCORP
acquired its initial investment in Cash Converters in 2009 and 2010 for $57.8
million.  At September 30, 2012, that investment was valued at $100.7 million.
 

Enters the High Potential Arizona Market

EZCORP has also completed the acquisition of 12 USA Pawn & Jewelry stores in
Tucson and Bullhead City, Arizona.  This investment marks the Company's
initial move into Arizona and its key markets.  The Company intends to grow
its presence over time into a market-leading provider of instant cash, by
expanding its storefront position, supported by both online and mobile
channels.  USA Pawn & Jewelry represents the second set of stores that the
Company has purchased from owner Craig McCall, who continues to consult with
and assist the Company in executing its multi-market growth strategy.

Mr. Rothamel stated, "The Arizona acquisition demonstrates our continued focus
on growing and expanding our core pawn business.  Not only will the addition
of these 12 successful stores enhance our profitability in the near-term, it
will also provide us with a robust base from which to expand further, through
in-fill opportunities and possible additional acquisitions.  Craig is an
extremely talented pawn entrepreneur and operator, and we look forward to
continuing our relationship to develop further growth opportunities. 

Additional CEO Commentary

Paul E. Rothamel concluded, "These three investments further evidence our
desire to use capital to build a company that better meets the diverse needs
of our customers.  They continue our highly successful and disciplined growth
strategy and will provide additional sources for earnings and shareholder
value growth."

About EZCORP

EZCORP is a leading provider of instant cash solutions for consumers employing
approximately 7,200 teammates and operating over 1,275 Company-operated pawn,
buy/sell and personal financial services locations in the U.S., Mexico and
Canada.  We provide a variety of instant cash solutions, including pawn loans,
consumer loans and fee-based credit services to customers seeking loans. At
our pawn and buy/sell stores, we also sell merchandise, primarily collateral
forfeited from pawn lending operations and used merchandise purchased from
customers.

EZCORP owns controlling interests in Prestaciones Finmart, S.A.P.I. de C.V.,
SOFOM, E.N.R. (doing business under the name "Crediamigo"), a leading provider
of payroll deduction loans in Mexico; in Artiste Holding Limited (doing
business under the name "Cash Genie"), a leading provider of online loans in
the U.K.; and in Renueva Commercial, S.A.P.I. de C.V., an operator of buy/sell
stores in Mexico under the name "TUYO."  The Company also has significant
investments in Albemarle & Bond Holdings PLC (ABM.L), one of the U.K.'s
largest pawnbroking businesses with over 180 full-line stores offering
pawnbroking, jewelry retailing, gold buying and financial services; and in
Cash Converters International Limited (CCV.ASX), which franchises and operates
a worldwide network of almost 700 stores that provide personal financial
services and sell pre-owned merchandise.

Special Note Regarding Forward-Looking Statements

This announcement contains certain forward-looking statements regarding the
Company's expected operating and financial performance for future periods.
 Actual results for future periods may differ materially from those expressed
or implied by these forward-looking statements due to a number of
uncertainties and other factors, including changes in the regulatory
environment, changing market conditions in the overall economy and the
industry, and consumer demand for the Company's products and services.  For a
discussion of these and other factors affecting the Company's business and
prospects, see the Company's annual, quarterly and other reports filed with
the Securities and Exchange Commission.

EZCORP Investor Relations
(512) 314-2220
Investor_Relations@ezcorp.com
www.ezcorp.com

SOURCE EZCORP, Inc.

Website: http://www.ezcorp.com
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