EMCC Names Schacter CEO

BOSTON, MA ? EMCC, Inc., a leading purchaser of performing consumer receivables announced today that industry veteran Stacey Schacter has been promoted to Chief Executive Officer after serving as the company’s vice president and general counsel for the past 2 years.

Mr. Schacter succeeds Philip Dine, whom had served as CEO since 1984 and will hold the newly created position of Special Assistant to the President.

EMCC of Pembroke, Massachusetts is an accounts receivable management company and an affiliate of Ohio retail giant, Schottenstein Stores Corporation. Supported by over $2 billion dollars in assets and founded in 1978, the company purchases paying/performing consumer receivables that emanate from banks, lending institutions and private entities on a national and international basis; as well as providing back office service support for the industry.

With its corporate office located in Massachusetts and operation centers in Illinois, Ohio, Texas and Alabama, its clients include major US banks, health maintenance organizations, retailers and utilities as well as other consumer oriented loan originators. EMCC also has a major presence in the resort management and time share industries that is managed under the corporate name of Resort Management International(RMI), acquired in 2000.

Schacter is a highly regarded industry executive whom, until recently, was a partner with the Cincinnati, Ohio law firm of Harris, Harris, Field, Schacter and Bardach. Born in Highland Park, Illinois, Schacter was admitted to the bar in 1988 after obtaining his law degree from Ohio State University. His disciplines include Corporate Acquisition, Finance, Commercial/Consumer Law and Corporate Restructuring.

Arthur Levine, EMCC’s President said, ?With Stacey’s leadership capacity and creative abilities, we will be able to accelerate our expansion and undoubtedly improve the company’s presence within the marketplace. Our expectation is to grow the company by acquiring alike service providers and collection agency’s while at the same time increasing the acquisition of receivables from credit originators. I believe that Stacey will play a pivotal role in making this possible.?

Established in 1978, EMCC is redefining the receivables industry by providing innovative solutions and expanding its lines of business. It is continuing to make significant and ongoing investment into next generation information technologies, which will add to its ability to play a dominant role within the marketplace. For more information regarding EMCC, visit www.emccinefcom or contact sschacter@emccinc.com.