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Performant Financial Corporation Announces Partial Waiver of Lock-Up Agreements With Certain Officers and Directors in



Performant Financial Corporation Announces Partial Waiver of Lock-Up
Agreements With Certain Officers and Directors in Connection With Proposed
Follow-On Offering

LIVERMORE, Calif., Jan. 29, 2013 (GLOBE NEWSWIRE) -- Performant Financial
Corporation (Nasdaq:PFMT) announced today that Morgan Stanley & Co. LLC and
Goldman, Sachs & Co., the lead book-running managers in the Company's recent
initial public offering of 10,350,000 shares of common stock, are waiving a
lock-up restriction with respect to 835,159 shares of the Company's common
stock held by certain officers and directors of the Company. The waiver will
take effect on January 31, 2013, and shall only apply to the sale of such
shares of common stock in the recently announced proposed offering of shares
of the Company's common stock by certain selling stockholders.

This press release is not an offer for sale of the securities in the United
States or in any other jurisdiction where such offer is prohibited, and such
securities may not be offered or sold in the United States absent registration
or an exemption from registration under the United States Securities Act of
1933, as amended.

CONTACT: Richard Zubek
         Investor Relations
         925-960-4988
         investors@performantcorp.com
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