Encore Capital Group Inc – ‘8-K’ for 12/21/00 – EX-99.1

On:  Tuesday, 1/9/01, at 4:35pm ET   ·   For:  12/21/00   ·   Accession #:  950147-1-500046   ·   File #:  0-26489

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report Dated 12/21/2000                        3     10K 
 2: EX-10.1     Credit Agreement                                      50    172K 
 3: EX-99.1     Press Release                                          2     12K 
 4: EX-99.2     Press Release                                          2     12K 

EX-99.1   —   Press Release

EX-99.1
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                                                                    Exhibit 99.1

PRESS RELEASE                                                                   
For Immediate Release                                                           

Contact: Carl C. Gregory, III                                                   
President and Chief Executive Officer                         
(858) 309-6960                                                

MCM CAPITAL GROUP SECURES NEW CREDIT FACILITY                 

     San Diego,  CA-November  21,  2000-MCM  Capital  Group  Inc.  (OTC.BB-MCMC)
announced  today that a newly formed  bankruptcy  remote  subsidiary has entered
into a $75 million credit facility with an institutional  lender for the purpose
of acquiring charged off consumer debt that meets the lender's  criteria.  These
funds are available  immediately  to purchase such debt and can be  continuously
drawn upon during the four-year term of this agreement.  Importantly,  repayment
of these loans is  dependant  on the  collections  from the assets  securing the
loans and not from the proceeds of a subsequent securitization or other loan.   

     Commenting on this  development,  Carl C. Gregory,  III,  President and CEO
said, "This is another important  milestone in MCM's progress.  We plan to be an
active  purchaser during 2001 and fundings under this facility will enable us to
buy those high quality pools of assets that our proprietary  purchase techniques
identify as being most suitable for our business."                              

NOTES TO PRESS RELEASE                                                          

     The  statements  in this  press  release  that  are not  historical  facts,
including most importantly,  those statements preceded by, or that include,  the
words "may," "believes,"  "projects,"  "expects,"  "anticipates" or the negation
thereof, or similar expressions,  constitute "forward looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform
Act").  These  statements may included,  but are not limited to,  projections of
revenues,  income or loss, estimates of capital  expenditures,  plans for future
operations,  products or  services,  and  financing  needs or plans,  as well as
assumptions relating to those matters. For all "forward-looking  statements" the
Company claims the protection of the safe-harbor for forward-looking  statements
contained in the Reform Act.  Such  forward-looking  statements  involve  risks,
uncertainties  and other factors which may cause actual results,  performance or
achievements of the Company and our subsidiaries to be materially different from
any future  results,  performance or  achievements  expressed or implied by such
forward-looking statements.  Factors that could affect the Company's results and
cause them to  materially  differ from those  contained  in the  forward-looking
statements include:                                                             

     --   the Company's  ability to maintain  existing,  and secure  additional,
financing;                                                  

     --   the Company's ability to maintain sufficient  liquidity to operate our
          business  including our ability to meet the liquidity  covenant of our
          securitization and warehouse transactions and to obtain new capital to
enable the Company to reinstitute receivable purchases;     

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EX-99.1
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     --   the  Company's   continued   servicing  of  the   receivables  in  our
securitization transactions and warehouse facility;         

     --   the Company's ability to recover sufficient amounts on or with respect
          to  receivables  to  fund   operations   (including  from  sellers  of
non-conforming receivable portfolios);                      

     --   the  Company's  ability  to hire and  retain  qualified  personnel  to
recover its receivables efficiently.                        

--   changes in, or failure to comply with, government regulations;   

     --   the Company's  ability to  successfully  integrate the assets acquired
from West Capital Financial Services Corp.;                 

     --   the costs, uncertainties and other effects of legal and administrative
proceedings; and                                            

     --   risk factors and cautionary  statements  made in the Company's  Annual
          Report on Form 10-K for the period  ended  December  31,  1999 and the
          Company's  Quarterly  Reports on Form 10-Q for the periods ended March
31, 2000, June 30, 2000 and September 30, 2000.             

     Forward-looking  statements  speak  only as of the date the  statement  was
made. They are inherently subject to risks and uncertainties,  some of which the
Company  cannot  predict or quantify.  Future  events and actual  results  could
differ  materially  from the  forward-looking  statements.  The Company will not
undertake  and  specifically  declines any  obligation  to publicly  release the
result of any revisions to any  forward-looking  statements to reflect events or
circumstances  after the date of such statements or to reflect the occurrence of
anticipated or unanticipated  events,  whether as the result of new information,
future events or for any other reason.  In addition,  it is the Company's policy
generally not to make any specific  projections as to future  earnings,  and the
Company does not endorse any projections  regarding future  performance that may
be made by third parties.                                                       

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Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		1/9/01
For Period End:		12/21/00
		11/21/00		1
		9/30/00		2					10-Q
		6/30/00		2					10-Q,  NT 10-Q
		3/31/00		2					10-Q,  NT 10-K,  NT 10-Q
		12/31/99		2					10-K/A,  10-K405,  NT 10-K
									List all Filings