CompuCredit reported second quarter 2006 managed earnings of $48.8 million, or $0.97 of managed earnings per fully diluted share, as compared to managed earnings of $80.6 million, or $1.56 of managed earnings per fully diluted share for the second quarter of 2005.

Under GAAP, second quarter 2006 net income was $28.3 million, or $0.56 net income per common share on a fully diluted basis, as compared to second quarter 2005 net income of $66.5 million, or $1.29 net income per common share on a fully diluted basis.

Last year's second quarter results included $44.2 million or $.86 per share of gain associated with CompuCredit's sale of approximately $2.9 billion in face amount of previously charged-off receivables to Encore Capital Group, Inc. David G. Hanna, CompuCredit Chairman and Chief Executive Officer, commented that, "We are pleased with our fundamental earnings growth over last year's second quarter. The consumer credit environment within our sector continues to be favorable, and we continue to focus on delivering value to both our customers and shareholders."