NASHVILLE, Tenn. — Primeritus Financial Services announced
the sale of two of its subsidiaries last week.

Officials confirmed that Primeritus sold Repossessions
Unlimited operating in Florida and Extreme Recovery in California.  

In the first transaction, Chris Fazio purchased Primeritus'
ownership in Repossessions Unlimited.

As sole owner of Repossessions Unlimited, officials said
Fazio will continue to provide recovery services for Primeritus' repossession
management clients, covering central and south Florida as a network agent for
Primeritus.

Primeritus indicated the second transaction resulted in the
sale of the Extreme Recovery operations to Solid Solutions 24/7. Solid
Solutions is a partnership between Scott Fornaro and Wes Englebrecht.

Under their direction, former Extreme Recovery employees
will continue their careers with Solid Solutions 24/7 in California, according
to Primeritus.

Primeritus chairman Cam Hitchcock said, "Since our
acquisition of Renovo Services in October, we have continued to refine the Primeritus
business model and make decisions and investments preparing Primeritus to be
the best-in-class service provider in repossession management, skip-tracing,
remarketing and transportation solutions for our clients.

"We have made a strategic decision to reduce Primeritus'
involvement in direct recovery as we believe that our 700-plus group of
independent network agents can provide exceptional recovery services to both
Primeritus and its clients," Hitchcock continued.

"The sale of Repossessions Unlimited and Extreme Recovery,
each to highly respected direct recovery executives, demonstrates our
commitment to the strategy and confidence in our network partners," he went on
to say.

Primeritus chief executive officer Chuck Tapp also commented
on Wednesday's developments.

"We wish Chris and his team at Repossessions Unlimited
continued success in the critical Florida market, and we will continue to
foster a strong business relationship with Chris," Tapp said.

"Solid Solutions 24/7 is also a mission critical network
agent for Primeritus in the California market, and we look forward to
developing a strong, long-term relationship with Scott and Wes in this high
potential market," Tapp went on to say.

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