BERWYN, Pa.--(BUSINESS WIRE)--Dollar Financial Corp (NASDAQ:DLLR - News), a leading international financial services company serving under-banked consumers, today announced that the Company has entered into an agreement to purchase eighty-two financial services stores in southeast Florida which offer check cashing, payday loans, and other ancillary products, from CCS Financial Services, Inc. ("The Check Cashing Store"). The Company expects that the total annual revenue and adjusted EBITDA from these stores for the twelve months following consummation of the acquisition will be approximately $45.0 million and $12.5 million, respectively, excluding transition and integration costs. The estimated earnings per share accretion from the acquired stores for the twelve months following consummation of the acquisition is estimated to be between $0.19 and $0.22 per fully-diluted share. The total purchase price for the acquisition, including the consumer loan portfolio and cash in stores at closing, is anticipated to be approximately $100.0 million.

Commenting on the acquisition, Jeff Weiss, the Company's Chairman and Chief Executive Officer, stated, "The acquisition of these eighty-two stores in southeast Florida will be a great addition to the twenty-three stores we previously acquired on the west coast of Florida in November 2006. This acquisition will substantially increase our presence in Florida, which has a favorable regulatory framework, attractive demographics and a rapidly growing service sector workforce. This acquisition, along with the Company's recent purchase of forty-five stores, primarily in the Midwest, underscores our strategy to improve the profitability of our U.S. business by unlocking the value of our significant U.S. income tax NOLs."

The Company intends to utilize a portion of the proceeds from its recent $200.0 million senior convertible note offering, which was completed on June 27, 2007, to pay for the acquisition. The Company anticipates completing the acquisition upon receipt of the approval of the Company's lenders and applicable regulatory approvals, including the receipt of state and local business licenses, which are expected to be obtained in the next forty-five to sixty days.

About Dollar Financial Corp

Dollar Financial Corp is a leading international financial services company serving under-banked consumers. Its customers are typically service sector individuals who require basic financial services but, for reasons of convenience and accessibility, purchase some or all of their financial services from the Company rather than from banks and other financial institutions. To meet the needs of these customers, the Company provides a range of consumer financial products and services primarily consisting of check cashing, short-term consumer loans, Western Union money order and money transfer products, reloadable VISA® and MasterCard® branded debit cards, electronic tax filing, bill payment services, and legal document processing services.

At June 30, 2007, the Company's global store network consisted of 1,280 stores, including 902 company-operated financial services stores and 110 franchised We The People legal document processing locations in 30 states, the District of Columbia, Canada and the United Kingdom. The financial services store network is the largest network of its kind in each of Canada and the United Kingdom and the second-largest network of its kind in the United States. The Company's customers, many of whom receive income on an irregular basis or from multiple employers, are drawn to the convenient neighborhood locations, extended operating hours and high-quality customer service. The Company's financial products and services, principally check cashing and short-term consumer loan programs, provide immediate access to cash for living expenses or other needs. For more information, please visit the Company's website at www.dfg.com.

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Source: Dollar Financial Corp

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