EZCORP Announces Key Business Developments

                  EZCORP Announces Key Business Developments

PR Newswire

AUSTIN, Texas, July 1, 2013

AUSTIN, Texas, July 1, 2013 /PRNewswire/ --EZCORP, Inc. (NASDAQ: EZPW), a
leading provider of instant cash solutions for consumers, today announced that
because of the precipitous decline in gold prices and the subsequent decline
in gross margins on gold scrapping, the company does not expect to achieve its
previously announced guidance for its third fiscal quarter ended June 30,
2013, and its current fiscal year ending September 30. The company expects
the impact on earnings per share will be in excess of 35 cents in the second
half of the fiscal year. The company had indicated in its second quarter
earnings release that a continuation of the challenging environment would
likely lead to earnings in the lower end of its guidance range, and since then
the price of gold has dropped much further.

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

"We continue to have a very large and successful gold business and expect that
we will monetize more gold through our retail sales channels where margins are
substantially higher than our scrap margins," said Paul Rothamel, EZCORP's
President and CEO. "As a result of these changes in our marketplace, we are
accelerating our consolidated strategic plan to diversify our business across
geographies, channels, and products. This will help to insulate us against
these types of short-term external impacts."

The company also announced that as a part of the accelerated strategic plan,
it will close more than 100 legacy stores in a variety of locations. These
stores are generally older, smaller stores, which do not fit the company's
preferred "store within a store" (SWS) format.

"While we are trimming back these locations, the overall company will continue
to grow by adding 185 new stores within this fiscal year, broadening our
online selling and lending channels, and adding numerous new products across
our portfolio of companies to better serve our customers in the formats they
desire with the products and services they want," said Rothamel.

The store closings primarily include:

  o57 stores in Mexico, 52 of which are small, jewelry-only formats. The
    company will continue to operate 235 full-service SWS stores under the
    Empeno Facil brand, and expects to continue its rapid storefront growth in
    Mexico, ending the fiscal year with approximately 245 locations. Neither
    Empeno Facil nor Groupo Finmart, the company's payroll withholding loan
    business, are gold dependent and together they make up the fastest growing
    segment in the company.
  o29 stores in Canada, where the company's business is in the process of
    transitioning to an integrated buy/sell and financial services model under
    the Cash Converters brand. The affected stores are stores that are not
    optimal for that model because of location or size. The company will
    continue to operate 46 full-service buy/sell and financial service center
    stores under the Cash Converters brand in Canada and the United States.

The company expects these actions will result in a one-time pre-tax charge in
the range of $21 million to $24 million, which will be recorded in its third
fiscal quarter.

Further details on the reorganization, the one-time charge and the financial
effect of the discontinued operations will be included in EZCORP's third
quarter financial results that will be issued on July 30, 2013 and in its Form
10-Q filing with the Securities and Exchange Commission.

About EZCORP

EZCORP is a leading provider of instant cash solutions for consumers,
employing approximately 7,800 teammates and operating over 1,300
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 names "Crediamigo" and "Adex"), a
leading provider of payroll deduction loans in Mexico; in Ariste 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 over 700 stores that provide personal
financial services and sell pre-owned merchandise.

For the latest information on EZCORP, please visit our website at:
www.ezcorp.com.

Forward-Looking Statements

This announcement contains certain forward-looking statements regarding the
company's expected operating and financial performance for future periods,
including expected future earnings and growth rates. These statements are
based on the company's current expectations. 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, fluctuations in gold prices or the
desire of our customers to pawn or sell their gold items, and consumer demand
for the company's services and merchandise. 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
http://investors.ezcorp.com/





SOURCE EZCORP, Inc.

Website: http://www.ezcorp.com