CAPITAL Corporate News

Capital Preferred Credit Announces Lynam as New Senior Vice President and Releases New Website
August 18, 2008

SIOUX FALLS, SD   August 18, 2008
Capital Preferred Credit (CPC), a subsidiary of CAPITAL Card Services, Inc., announces the addition of Rick Lynam to its senior executive team. In addition, CPC also announces the release of the newly designed www.capitalpreferredcredit.com website. The newly designed website assists banks and investors in understanding the services that CPC provides in originating and managing credit card assets.

Rick Lynam joins CPC as Senior Vice President responsible for enhancing CPC’s current client relationships and to develop new alliances for the organization. Mr. Lynam has over 36 years of banking experience focusing on building prime credit card assets. Rick served as President of Comerica Midwest in Toledo, Ohio; President of Valley Bank Card in Madison, Wisconsin; Vice President/Director of Credit for Norwest Card Services in Des Moines, Iowa; Vice President of Loan Operations for Old Kent Bank in Grand Rapids, Michigan; and most recently Senior Vice President of the Credit Card Division for Pulaski Bank in Little Rock, Arkansas.

Mr. Lynam will help lead CPC and further its expertise in originating credit card receivables. “We are excited about the skills and experience that Lynam brings with him. He will further enable CPC to provide the best service to our investors and banks”, said Chuck Hendrickson, CPC’s President.

Since CPC’s inception in 2006, it continues to address the needs that arise from parties who express an interest in financing or participating in credit card receivables. CPC originates the credit card receivables through existing relationships with various banks which issue credit cards. This provides an opportunity for non-banking entities to invest in credit cards. CPC’s expertise in originating credit card receivables creates a mutually beneficial relationship for investors and participating banks.

The CPC website continues to evolve in response to banks’ and investors’ needs. Hendrickson said, “The newly designed website serves to assist banks and investors in providing them information on how CPC provides credit card asset building solutions for financial and non-financial institutions.”

About Capital Preferred Credit
Capital Preferred Credit LLC. (CPC) offers a variety of credit card asset building solutions for financial and non-financial institutions and works to unite non-financial investors with the opportunity to participate in or fund credit card receivables. CPC originates and measures credit card receivables through portfolio management, risk management and marketing services. CPC is headquartered in Sioux Falls, South Dakota and is a first tier subsidiary of CAPITAL Card Services, Inc. For more information, go to www.capitalpreferredcredit.com.