The Brualdi Law Firm Announces Class Action Lawsuit Against CompuCredit Corporation

NEW YORK, July 18, 2008 (PRIME NEWSWIRE) -- The Brualdi Law Firm P.C. announces that a lawsuit has commenced in the United States District Court for the Northern District of Georgia on behalf of purchasers of CompuCredit Corporation ("CompuCredit" or "the Company") common stock during the period between November 6, 2006 through June 9, 2008 (the "Class Period").

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased CompuCredit common stock during the period described above, you have certain rights, and have until no later than 60 days from July 14, 2008 in which to move for Lead Plaintiff status. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com/

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results. As a result of defendants' false statements, CompuCredit stock traded at artificially inflated prices during the Class Period, reaching its Class Period high of $40.61 per share in December 2006. Then, on June 10, 2008, The Wall Street Journal reported that federal regulators were expected to seek more than $100 million in fines and restitution against CompuCredit related to deceptive credit-card marketing tactics and abusive debt-collection practices. On this news, CompuCredit's stock dropped $2.49 per share to close at $6.30 per share on June 10, 2008, a one-day decline of 28% on extremely high volume.

CONTACT:  The Brualdi Law Firm P.C.
          Sue Lee, Esq.
          (212) 952-0602
          (877) 495-1187
          slee@brualdilawfirm.com