Pre-Paid Announces Record First Quarter Activity

Recruiting Up 61%, New Membership Sales Up 12%, Active Memberships Up 25%



Apr 03, 2001, 01:00 ET from Pre-Paid Legal Services, Inc.

    ADA, Okla., April 3 /PRNewswire/ -- Pre-Paid Legal Services, Inc.
 (NYSE:   PPD), today reported record production and recruiting results for the
 first quarter ended March 31, 2001.  During the first quarter of 2001 new
 memberships written increased 12% to 183,712 from 163,341 for the 2000 period
 which was, at the time, the biggest quarter in Company history.  New sales
 associates recruited during the first quarter of 2001 increased 61% to 34,286
 from 21,238 during the 2000 period.
 
                                                   Three Months Ended
                                            3/31/2001            3/31/2000
     New membership sales                    183,712     +12%     163,341
 
     New sales associates recruited           34,286     +61%      21,238
 
     Active memberships at end of period   1,114,437     +25%     890,264
 
     "We are extremely pleased with our first quarter results.  This first
 quarter of 2001 is the best quarter in our history in terms of both new sales
 associates recruited and new memberships sold.  We continue to benefit from
 significant positive cash flow while growing our membership base by more than
 25 percent.  The positive cash flow together with our significant cash and
 investment balances will allow us to continue our previously announced stock
 repurchases.  We believe the 61 percent increase in recruiting combined with
 our continued expansion in the U.S. and Canada will supplement our continuing
 growth.  Historically, after we experience increases in recruiting, we then
 see increased membership production," Harland Stonecipher, Chairman, said.
 
     About Pre-Paid Legal Services
     Pre-Paid Legal Services develops and markets legal service plans across
 North America.  The plans provide for legal service benefits, including
 unlimited attorney consultation, will preparation, traffic violation defense,
 automobile-related criminal charges defense, letter writing, document
 preparation and review and a general trial defense benefit.  More information
 can be located at the Company's homepage on the worldwide web at
 http://www.prepaidlegal.com.
     Statements in this press release, including those contained in the
 comments above by Harland Stonecipher, other than purely historical
 information, including estimates, projections and statements relating to the
 Company's future plans and objectives and expected operating results, and
 statements of the assumptions underlying such statements, constitute forward-
 looking statements within the meaning of Section 21E of the Securities
 Exchange Act of 1934.  The forward-looking statements contained herein are
 based on certain assumptions which may not be correct.  They are subject to
 all of the risks and uncertainties incident to the Company's business which
 are described in the reports and statements filed by the Company with the
 Securities and Exchange Commission, including (among others) those listed in
 the Company's Form 10-K.  Please refer to page 1 of the Company's 1999 Form
 10-K for a more complete description of the factors that could cause actual
 results to differ materially from those described in the forward-looking
 statements.  The Company undertakes no duty to update any of the forward-
 looking statements in this press release.
 
 

SOURCE Pre-Paid Legal Services, Inc.
    ADA, Okla., April 3 /PRNewswire/ -- Pre-Paid Legal Services, Inc.
 (NYSE:   PPD), today reported record production and recruiting results for the
 first quarter ended March 31, 2001.  During the first quarter of 2001 new
 memberships written increased 12% to 183,712 from 163,341 for the 2000 period
 which was, at the time, the biggest quarter in Company history.  New sales
 associates recruited during the first quarter of 2001 increased 61% to 34,286
 from 21,238 during the 2000 period.
 
                                                   Three Months Ended
                                            3/31/2001            3/31/2000
     New membership sales                    183,712     +12%     163,341
 
     New sales associates recruited           34,286     +61%      21,238
 
     Active memberships at end of period   1,114,437     +25%     890,264
 
     "We are extremely pleased with our first quarter results.  This first
 quarter of 2001 is the best quarter in our history in terms of both new sales
 associates recruited and new memberships sold.  We continue to benefit from
 significant positive cash flow while growing our membership base by more than
 25 percent.  The positive cash flow together with our significant cash and
 investment balances will allow us to continue our previously announced stock
 repurchases.  We believe the 61 percent increase in recruiting combined with
 our continued expansion in the U.S. and Canada will supplement our continuing
 growth.  Historically, after we experience increases in recruiting, we then
 see increased membership production," Harland Stonecipher, Chairman, said.
 
     About Pre-Paid Legal Services
     Pre-Paid Legal Services develops and markets legal service plans across
 North America.  The plans provide for legal service benefits, including
 unlimited attorney consultation, will preparation, traffic violation defense,
 automobile-related criminal charges defense, letter writing, document
 preparation and review and a general trial defense benefit.  More information
 can be located at the Company's homepage on the worldwide web at
 http://www.prepaidlegal.com.
     Statements in this press release, including those contained in the
 comments above by Harland Stonecipher, other than purely historical
 information, including estimates, projections and statements relating to the
 Company's future plans and objectives and expected operating results, and
 statements of the assumptions underlying such statements, constitute forward-
 looking statements within the meaning of Section 21E of the Securities
 Exchange Act of 1934.  The forward-looking statements contained herein are
 based on certain assumptions which may not be correct.  They are subject to
 all of the risks and uncertainties incident to the Company's business which
 are described in the reports and statements filed by the Company with the
 Securities and Exchange Commission, including (among others) those listed in
 the Company's Form 10-K.  Please refer to page 1 of the Company's 1999 Form
 10-K for a more complete description of the factors that could cause actual
 results to differ materially from those described in the forward-looking
 statements.  The Company undertakes no duty to update any of the forward-
 looking statements in this press release.
 
 SOURCE  Pre-Paid Legal Services, Inc.