ACE Cash Express Opens 1500th Store; Consumer Demand for Traditional Banking Alternatives Drives Growth
December 15 2005 - 6:00PM
PR Newswire (US)
DALLAS, Dec. 15 /PRNewswire-FirstCall/ -- ACE Cash Express, Inc.
(NASDAQ:AACE), a leading retailer of financial services, including
check cashing, short-term consumer loans and bill payment services,
has opened its 1500th retail location. This significant achievement
reflects the Company's network growth strategy of new store
openings as well as acquisitions, such as ACE's recent acquisition
of 107 Popular Cash Express stores in the second quarter of fiscal
2006. During the last eighteen months ACE has increased its store
base over 22% from the 1,230 stores open at the end of fiscal 2004.
Jay B. Shipowitz, ACE's President and CEO, said, "Increasing
consumer demand for the products and services we offer drove our
growth, and our team's successful focus on de novo store openings,
sizable acquisitions and franchise sales made it a reality. We have
built a financial services network dedicated to consumers seeking
alternatives to traditional banking relationships. Today's
announcement is a milestone in ACE's company history and I thank
all of the team members for their commitment and dedication to our
growth plan." About ACE Cash Express ACE Cash Express, Inc. is a
leading retailer of financial services, including check cashing,
short-term consumer loans and bill payment services, and the
largest owner, operator and franchisor of check cashing stores in
the United States. As of December 15, 2005, ACE had a network of
1,505 stores in 37 states and the District of Columbia, consisting
of 1,287 company-owned stores and 218 franchised stores. ACE
focuses on serving consumers, many of whom seek alternatives to
traditional banking relationships in order to gain convenient and
immediate access to check cashing services and short-term consumer
loans. ACE's website is found at http://www.acecashexpress.com/ .
DATASOURCE: ACE Cash Express, Inc. CONTACT: Jay B. Shipowitz,
President & CEO, +1-972-550-5030, or , or Eric C. Norrington,
Vice President of Communication, +1-972-550-5032, or , both of ACE
Cash Express, Inc. Web site: http://www.acecashexpress.com/
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