Steve FredricksonFOR IMMEDIATE RELEASE

NORFOLK, Va. (March 11, 2014)Steve Fredrickson, chairman, president and chief executive officer of Portfolio Recovery Associates, Inc. (Nasdaq: PRAA), is the newest member of St. Mary’s Foundation Board of Directors.

Fredrickson is co-founder of PRA, a financial and business services company based in Norfolk, Va., with locations in 10 U.S. states and the United Kingdom. For the past two years, PRA has been named one of Fortune’s “100 Fastest-Growing Companies” and one of the Top 25 of Forbes’ Best Small Companies in America.

“Both Mr. Fredrickson and Portfolio Recovery Associates have been longtime supporters of St. Mary’s Home, and we are very pleased to now have Mr. Fredrickson as part of our Foundation Board,” said William C. Giermak, St. Mary’s CEO.

Fredrickson also is chair of the 2014 campaign for the United Way of South Hampton Roads, where he serves as a board director.

“It’s an honor to be joining the extraordinary group currently serving on the board at St. Mary’s,” said Fredrickson. “I strongly believe in the mission of this foundation and look forward to working with the board to help meet the needs of these exceptional children.”

On St. Mary’s Foundation Board, Fredrickson joins Michael P. Cotter, trustee, U.S. Bankruptcy Court; Christopher B. D’Surney, director of human resources, Virginia International Terminals, LLC; Thomas W. Godfrey Jr., president, Colonna’s Shipyard, Inc.; H. Gregory Kilduff, retired; M. Powell Peters, Esq., attorney, Wolcott Rivers Gates; and Donald F. Price, senior loan officer, Bank of Hampton Roads. Godfrey also is president of St. Mary’s Board of Directors.

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