Advance America, Cash Advance Declares Dividend and Schedules Release of Fourth Quarter 2011 Financial Results

SPARTANBURG, S.C., Feb. 15, 2012 /PRNewswire/ -- Advance America, Cash Advance Centers, Inc. (NYSE: AEA) announced today that the Company's Board of Directors declared a regular quarterly dividend of $0.0625 per share. The dividend, the Company's 30th consecutive quarterly dividend, will be payable on March 9, 2012 to stockholders of record as of February 27, 2012. 

Also, the Company announced that it expects to release fourth quarter 2011 financial results on Wednesday, February 22, 2012 after the close of trading on the NYSE. In light of today's earlier announcement that Advance America had entered into a definitive agreement to be acquired by Grupo Elektra, S.A.B. de C.V. (BMV: ELEKTRA), the Company will not host a conference call with respect to the earnings release.

About Advance America, Cash Advance Centers, Inc.

Founded in 1997, Advance America, Cash Advance Centers, Inc. (NYSE: AEA) is the country's leading provider of non-bank cash advance services, with approximately 2,600 centers in 29 states, the United Kingdom, and Canada. The Company offers convenient, less-costly credit options to consumers whose needs are not met by traditional financial institutions. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Please visit www.advanceamerica.net for more information.

Forward-Looking Statements and Information:

Certain statements contained in this release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Forward-looking statements provide our current expectations, beliefs, or forecasts of future events.  These statements can be identified by the fact that they do not relate strictly to historical or current facts.  They use words such as "expect," "intend," "plan," "believe," "project," "anticipate," "may," "will," "should," "would," "could," "estimate," "continue," and other words and terms of similar meaning in conjunction with a discussion of future operating or financial performance. You should read statements that contain these words carefully, because they discuss our future expectations, contain projections of our future results of operations or of our financial position, or state other "forward-looking" information. Forward-looking statements involve substantial risks and uncertainties, which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements.  Such differences may result from a variety of factors, including but not limited to: (i) the occurrence of any event or other circumstance that could lead to the termination of the definitive agreement; (ii) the inability to consummate the transaction due to the failure to obtain stockholder approval; (iii) risks related to disruption of management's attention from our ongoing business operations due to the transaction; (iv) the effect of the announcement of the transaction on our operating results and business generally; and (v) the need to obtain certain consents and approvals and satisfy certain conditions to closing the transactions. More information about Advance America and other risks related to the Company are detailed in our Annual Report on Form 10-K for the year ended December 31, 2010 and in "Part II. Item 1A. Risk Factors" of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011 as filed with the Securities and Exchange Commission (the "SEC").  We do not have any intention, and do not undertake, to update any forward-looking statements to reflect events or circumstances arising after the date hereof, whether as a result of new information, future events or otherwise

Important Additional Information and Where to Find It

In connection with the proposed transaction, we will prepare a proxy statement to be filed with the SEC.  OUR STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED TRANSACTION, AND RELATED MATTERS.  Stockholders will be able to obtain the proxy statement (when available) free of charge on the Company's website at http://www.advanceamerica.net. The SEC also maintains a website that contains reports, proxy and information statements, and other information regarding the Company at www.sec.gov. In addition, any materials the Company files with the SEC may be read and copied at the SEC's Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-SEC-0330.

Participants in Solicitation

The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from our stockholders in connection with the transaction.  Information about our directors and executive officers and their holdings of our securities is set forth in the proxy statement for our 2010 Annual Meeting of Stockholders, which was filed with the SEC on April 14, 2011.  Stockholders may obtain additional information regarding the interests of our directors and officers by reading the proxy statement and other relevant documents regarding the transaction, when filed with the SEC.

SOURCE Advance America, Cash Advance Centers, Inc.