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Dollar Financial Corp Announces Planned Departure of Head of United Kingdom Business Operations

^{Published on 2011-05-06 18:40:39 - Market Wire}
 

BERWYN, Pa.--([ BUSINESS WIRE ])--Dollar Financial Corp (NASDAQ: DLLR), a leading international diversified financial services company serving primarily unbanked and under-banked consumers for over 30 years, today announced that the expatriation agreement for Silvio Piccini, the Senior Vice President and Managing Director of the Companya™s United Kingdom operations, is expiring on June 30, 2011, at which time he will be returning to the United States and has chosen to leave the Company. Norm Miller, the Companya™s Executive Vice President and Chief Operating Officer, will act as the interim head of the United Kingdom operations until a suitable replacement for Mr. Piccini is found.

About Dollar Financial Corp

Dollar Financial Corp is a leading international diversified financial services company primarily serving unbanked and under-banked consumers and small business owners for over 30 years. Through its retail storefront locations as well as by other means, such as via the Internet, the Company provides a range of consumer financial products and services in seven countries (Canada, the United Kingdom, the United States, the Republic of Ireland, Sweden, Finland and Poland) to consumers who, 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. The Companya™s products, principally its short-term consumer loans, check cashing services, secured pawn loans and gold buying services, provide customers with immediate access to cash for living expenses or other episodic needs. The Company also offers high-value ancillary services, including Western Union money order and money transfer products, electronic tax filing, reloadable VISA® and MasterCard® debit cards, foreign currency exchange, and other services. In addition, through its branded Military Installment Loan and Education Services, or MILES® program, the Company provides fee based services to enlisted military personnel applying for loans to purchase new and used vehicles that are funded and serviced under an exclusive agreement with a major third-party national bank.

At March 31, 2011, the Companya™s global retail operations consisted of 1,236 locations, including 1,144 company-operated financial services stores and 92 franchised and agent locations, conducting business primarily under the names Money Mart^®, Money Shop^®, Insta-Cheques^®, The Check Cashing Store^®, Sefina and MoneyNow^® in Canada, the United Kingdom, the United States, the Republic of Ireland, Sweden, Finland and Poland. For more information, please visit the Company's website at [ www.dfg.com ].

Forward Looking Statement

This news release contains forward looking statements, including, among other things, statements regarding the following: pending or recent acquisitions and their expected benefits; the Companya™s future results, growth, guidance and operating strategy; the global economy; the effects of currency exchange rates on reported operating results; the developing regulatory environment in Canada, the United Kingdom, the United States, and other countries; the impact of future development strategy, new stores and acquisitions; litigation matters; expected financing initiatives; and the performance of new products and services. These forward looking statements involve risks and uncertainties, including risks related to: the regulatory environments; current and potential future litigation; the identification of acquisition targets; the consummation of announced pending acquisitions, the integration and performance of acquired stores and businesses; the performance of new stores; the impact of debt financing transactions; the results of certain ongoing income tax appeals; and the effects of new products and services on the Companya™s business, results of operations, financial condition, prospects and guidance; and uncertainties related to the effects of changes in the value of the U.S. Dollar compared to foreign currencies. There can be no assurance that the Company will attain its expected results, successfully consummate announced pending acquisitions, successfully integrate any of its acquisitions, obtain acceptable financing, or attain its published guidance metrics, or that ongoing and potential future litigation or the various FDIC, Federal, state, Canadian, U.K. or foreign legislative or regulatory activities affecting the Company or the banks with which the Company does business will not negatively impact the Companya™s operations. A more complete description of these and other risks, uncertainties and assumptions is included in the Companya™s filings with the Securities and Exchange Commission, the Companya™s annual reports and Forms 10-Q and 10-K. You should not place any undue reliance on any forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.