ExpertoCredite to Acquire TimeFinans Debt Collection Unit, Volex Inkasso AB

Reading, UK – Experto Credite Ltd announced today that it has signed a letter of intent for the proposed acquisition of Volex Inkasso AB (former subsidiary of TimeFinans AB being part of Halens Postorder in Borås-Sweden) The completion of the acquisition is subject to the execution of a definitive acquisition agreement as per 31 December 2009.

"The acquisition of Volex Inkasso AB is part of our strategic initiative to strengthen ExpertoCredite’s presence in the Nordics and the Swedish market in specific, all this to enhance our ability to support and grow key customers in these markets,” said Mr. Trond Aasestrand, Head of Business Development of Experto Credite.

Mr. Mattias Carlsson, Managing Director of TimeFinans AB said, "We are very pleased to have reached an agreement with Experto Credite and looking forward to work with a forward flow agreement for certain segments of our defaulted consumer credit services in the near future."

Financial terms of the proposed transaction were not released. Following the acquisition, Volex Inkasso AB is expected to change its name to ExpertoCredite Sweden AB. The company will increase its management, sales, marketing and supporting staff, and will continue operations at its current facilities located in Borås-Sweden.

About Experto Credite Ltd
ExpertoCredite Ltd is more than 12 years active in the area of Debt Purchase and a leading provider of Debt Management Services like debt collection, outsourcing solutions, tracing & litigation and debt purchase. Today the Group consists of some 100 persons. Acting for banks, telecoms, building societies, utilities, insurance companies and debt purchasers with the aim to drive for optimal improvement in cash flow.