Breaking News

U.K. Economy Grew 0.8% in Second Quarter, Matching Forecast
Tweet TWEET

Cash America Announces Pending Acquisition of 34 Pawn Lending Locations in Georgia and North Carolina

  Cash America Announces Pending Acquisition of 34 Pawn Lending Locations in
  Georgia and North Carolina

Business Wire

FORT WORTH, Texas -- August 28, 2013

Cash America International, Inc. (NYSE: CSH) announced today that it has
signed an asset purchase agreement for the acquisition of substantially all of
the assets of a chain of 34 pawn lending locations. When completed, the
transaction will add 31 pawn lending locations in Georgia and 3 locations in
North Carolina, which will expand Cash America’s presence in both markets. The
stores are currently owned by PawnMart, Inc. and operate primarily under the
PawnMart brand in both markets.

Commenting on the acquisition, Daniel R. Feehan, President and Chief Executive
Officer of Cash America said, “We are excited to add another established chain
of pawn lending locations to the Cash America family in two markets that we
believe have excellent long term prospects. Adding this well run group of pawn
stores and talented team will enhance our pawn business for many years to
come.”

The 31 stores in Georgia operate primarily in and around Atlanta where Cash
America currently operates 17 pawn lending locations, which will give the
Company 48 locations in this significant metropolitan area after closing the
transaction. In addition, the Company will add 3 stores in Charlotte, North
Carolina to its existing group of 16 pawn lending locations in North Carolina.
The 34 pawn lending locations had approximately $10.7 million in pawn loan
balances as of December 31, 2012 (unaudited).

Cash America expects the aggregate purchase price of the PawnMart locations to
be approximately $62million (including consideration for certain
non-competition covenants), which will be paid in cash and funded by available
cash and through the Company’s line of credit. The purchase price may be
adjusted based on the aggregate value of the pawn loan balance and the
merchandise inventory balance held by the seller at closing. The closing of
the transaction is subject to the satisfaction of certain closing conditions,
such as the receipt of certain approvals to be obtained by the seller and its
parent company, Xponential, Inc., licensing and the receipt of certain
regulatory approvals. If all closing conditions are satisfied, the closing of
the acquisition is expected to occur in the fourth quarter of 2013. This
acquisition is expected to be accretive to earnings immediately following its
closing.

About the Company

As of June 30, 2013, Cash America International, Inc. operated 964 total
locations offering specialty financial services to consumers, which included
the following:

  *827 lending locations in 22 states in the United States primarily under
    the names “Cash America Pawn,” “SuperPawn,” “Cash America Payday Advance,”
    and “Cashland;”
  *47 pawn lending locations in central and southern Mexico under the name
    “Cash America casa de empeño;” and
  *90 check cashing centers (all of which are unconsolidated franchised check
    cashing centers) operating in 14 states in the United States under the
    name “Mr. Payroll.”

Additionally, as of June 30, 2013, the Company offered consumer loans over the
Internet to customers:

  *in 32 states in the United States at http://www.cashnetusa.com and
    http://www.netcredit.com;
  *in the United Kingdom at http://www.quickquid.co.uk, and
    http://www.poundstopocket.co.uk;
  *in Australia at http://www.dollarsdirect.com.au; and
  *in Canada at http://www.dollarsdirect.ca.

For additional information regarding the Company and the services it provides,
visit the Company’s websites located at:

http://www.cashamerica.com    http://www.poundstopocket.co.uk
http://www.enova.com          http://www.dollarsdirect.com.au
http://www.cashnetusa.com      http://www.dollarsdirect.ca
http://www.netcredit.com       http://www.goldpromise.com
http://www.cashlandloans.com   http://www.mrpayroll.com
http://www.quickquid.co.uk

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995

This release contains forward-looking statements about the business, financial
condition, operations and prospects of the Company. The actual results of the
Company could differ materially from those indicated by the forward-looking
statements because of various risks and uncertainties including, without
limitation: the effect of or changes in domestic and foreign pawn, consumer
credit, tax and other laws and governmental rules and regulations applicable
to the Company's business or changes in the interpretation or enforcement
thereof; the regulatory and examination authority of the Consumer Financial
Protection Bureau; public perception of the Company’s business, including its
consumer loan business and its business practices; the deterioration of the
political, regulatory or economic environment in foreign countries where the
Company operates or in the future may operate; fluctuations, including a
sustained decrease, in the price of gold or deterioration in economic
conditions; the effect of any current or future litigation proceedings or any
judicial decisions or rule-making that affect the Company, its products or its
arbitration agreements; the actions of third parties who provide, acquire or
offer products and services to, from or for the Company; changes in demand for
the Company’s services; the Company’s ability to attract and retain qualified
executive officers; a prolonged interruption in the Company’s operations of
its facilities, systems and business functions, including its information
technology and other business systems; the ability of the Company to open new
locations in accordance with its plans or to successfully integrate newly
acquired businesses into the Company’s operations; changes in competition;
interest rate and foreign currency exchange rate fluctuations; changes in the
capital markets; changes in the Company’s ability to satisfy its debt
obligations or to refinance existing debt obligations or obtain new capital to
finance growth; security breaches, cyber attacks or fraudulent activity;
compliance with laws and regulations applicable to international operations;
the implementation of new, or changes in the interpretation of existing,
accounting principles or financial reporting requirements; acts of God, war or
terrorism, pandemics and other events; the effect of any of such changes on
the Company’s business or the markets in which it operates; and other risks
and uncertainties indicated in the Company’s filings with the Securities and
Exchange Commission. These risks and uncertainties are beyond the ability of
the Company to control, nor can the Company predict, in many cases, all of the
risks and uncertainties that could cause its actual results to differ
materially from those indicated by the forward-looking statements. When used
in this release, terms such as “believes,” “estimates,” “should,” “could,”
“would,” “plans,” “expects,” “anticipates,” “may,” “forecasts,” “projects” and
similar expressions and variations as they relate to the Company or its
management are intended to identify forward-looking statements. The Company
disclaims any intention or obligation to update or revise any forward-looking
statements to reflect events or circumstances occurring after the date of this
release.

Contact:

Cash America International, Inc.
Thomas A. Bessant, Jr., 817-335-1100