PARC Chooses LexisNexis Collections Solutions For Skip Tracing; LexisN

    Business Editors

    BOCA RATON, Fla.--(BUSINESS WIRE)--Jan. 27, 2005--Premium Asset Recovery Corp. (PARC) has chosen LexisNexis for its skip tracing solutions to help collections professionals locate debtors faster and more efficiently. LexisNexis U.S. is a leading provider of legal, news and business information services. PARC's primary business is the purchase of charged-off, non-performing, self-pay debt portfolios from a vast array of organizations including credit card companies and health care organizations.
    "We have chosen LexisNexis for skip-tracing through batch processing, and it's just been phenomenal," said Chris Conway, President of PARC.
    "Their data and expertise have allowed us to execute the 80/20 rule, where 80% of our time is spent on 20% of accounts that we can contact. LexisNexis has helped us to eliminate many man hours and so they have been very effective for us," said Conway. "This better helps us to serve our credit card and health care customers."
    LexisNexis skip tracing solutions via batch process matches and cleans debtor account information against multiple, nationwide databases of addresses, and phone numbers. Fast, flexible and cost-effective, LexisNexis has the industry's largest and most current collection of public records and locator information.
    "Our customized solution for PARC clearly demonstrates that we help our customers optimize their collection portfolios to achieve productivity goals," said Dane Mauldin, Vice President of Collections Solutions for LexisNexis Risk Management business unit. "Our information management and technology expertise is a proven part of our customer's success."

    About LexisNexis

    LexisNexis(R) (www.lexisnexis.com) is a leader in comprehensive and authoritative legal, news and business information and tailored applications. A member of Reed Elsevier Group plc (NYSE: ENL; NYSE: RUK) (www.reedelsevier.com), the company does business in 100 countries with 13,000 employees worldwide. In addition to its flagship Web-based Lexis(R) and Nexis(R) research services, the company includes some of the world's most respected legal publishers such as Martindale-Hubbell, Matthew Bender, Butterworths, JurisClasseur, Abeledo-Perrot and Orac.
    In the United States, LexisNexis (www.lexisnexis.com) offers an extensive range of products and customized tools that address job-specific and organization-wide information needs, driving productivity and confident decision-making.
    For more than 30 years, LexisNexis(R) has been a pioneer in secure data sharing, information policy, and personal privacy. Through its risk management flagship products Accurint(R), Banko(R), PeopleWise(R), and RiskWise(R), LexisNexis products help to authenticate identity, locate people and assets, enable commerce, conduct background screening, and support national security initiatives. Customers include government agencies, top law firms, and major companies in the fields of national security, financial services, collection and recovery, insurance, mortgage, telecommunications, e-commerce and retail.

    About PARC

    Established in 1998, Premium Asset Recovery Corp. Is a financial service organization that has taken a unique approach to the resolution of defaulted self-pay medical receivables. PARC's primary business is the purchase of charged off, non-performing self-pay medical debt portfolios from healthcare providers and the collection of these debts as the new owner. PARC also purchases and collects non-medical consumer accounts receivable. For more information, visit PARC's web site at www.parcassets.com or call toll free (888) 533-7272, extension 1015.

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CONTACT: LexisNexis Risk Management Kristina Grammatico, 248-545-7731 or Creative Response Concepts Sean McCabe or Steve Burke, 703-683-5004

KEYWORD: OHIO FLORIDA INDUSTRY KEYWORD: HARDWARE LEGAL/LAW SOFTWARE INTERNET E-COMMERCE PRODUCT SOURCE: LexisNexis

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