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EZCORP Third Quarter Earnings Jump 39%

Jul 22, 2010

EZCORP, Inc. (NASDAQ: EZPW), a leading pawn store operator and provider of specialty consumer financial services, today announced results for its third fiscal quarter ended June 30, 2010.

  (Logo:  http://photos.prnewswire.com/prnh/20090713/EZCORPLOGO)
  (Logo:  http://www.newscom.com/cgi-bin/prnh/20090713/EZCORPLOGO)

EZCORP's net income for the quarter increased 39% to $20.0 million ($0.40 per share) compared to $14.4 million ($0.29 per share) for the third quarter of fiscal 2009. Total revenues for the quarter increased 17% over the prior year period to $173.5 million.

Consolidated operating income improved 34% to $28.8 million (27% of net revenues) from $21.5 million (24% of net revenues) in the prior year quarter. Store level operating income improved $9.2 million in the Company's U.S. Pawn operations, $0.3 million in its Empeno Facil Mexico Pawn segment and $3.1 million in its EZMONEY operations.

EZCORP's net income for the nine-month period ended June 30, 2010 increased 46% to $69.4 million ($1.40 per share) compared to $47.5 million ($1.00 per share) for the prior year nine-month period. Operating income for the nine months improved 43% to $101.8 million (31% of net revenues) compared to $71.2 million (27% of net revenues) for the prior year nine-month period.

Commenting on these results, Chief Executive Officer, Joe Rotunda, stated, "The June quarter was another great quarter for EZCORP. Each of our business segments and strategic affiliates produced robust revenue and earnings increases over the prior year quarter. In addition, our consolidated pawn and EZMONEY loan portfolios reflect strong, high quality growth over last year of 19% and 28%, respectively. These results clearly demonstrate strong consumer demand for our assortment of products and services and the value and convenience they provide in today's financial marketplace."

The Company's President and Chief Operating Officer, Paul Rothamel, added, "We are very pleased by the strong growth and customer acceptance of our expanded offerings, and recently achieved a number of significant milestones. We acquired thirteen domestic pawn stores in June, giving us an entrance to the Chicago area and strengthening our number one position in Florida; we surpassed 70 new store openings year-to-date; and we opened our 100th pawn store in Mexico on July 2."

Rothamel concluded, "We continue to drive earnings growth with an intense focus on product and geographic diversification, new store growth and superior customer service. We are increasing our expected earnings per share for the full fiscal year ending September 30 to $1.92, representing a 35% increase from $1.42 in fiscal 2009."

You are invited to listen to a conference call discussing these results on July 22, 2010 at 3:30 pm Central Time. The conference call can be accessed over the Internet or replayed at your convenience at the following address.

  http://www.videonewswire.com/event.asp?id=70642

  ABOUT EZCORP

EZCORP is a leading pawn store operator and provider of specialty consumer financial services. It provides collateralized non-recourse loans, commonly known as pawn loans, and a variety of short-term consumer loans including payday loans, installment loans and auto title loans, or fee-based credit services to customers seeking loans. At its pawn stores, the company also sells second-hand merchandise, primarily collateral forfeited from its pawn lending operations.

At June 30, 2010, EZCORP operated 482 pawn stores in the U.S. and Mexico and 497 short-term consumer loan stores in the U.S. and Canada. The company also has significant investments in Albemarle & Bond Holdings PLC (ABM.L), one of the U.K.'s largest pawnbroking businesses with over 120 stores, and Cash Converters International Limited (CCV.L and CCV.AUS), which franchises and operates a worldwide network of over 500 financial services and second-hand retail stores.

Special Note Regarding Forward-Looking Statements

This announcement contains certain forward-looking statements regarding the Company's expected operating and financial performance for future periods, including new store expansion and expected future earnings. These statements are based on the Company's current expectations. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of uncertainties and other factors, including changing market conditions in the overall economy and the industry, consumer demand for the Company's services and merchandise, actions of third parties who offer services and products in the Company's locations and changes in the regulatory environment. For a discussion of these and other factors affecting the Company's business and prospects, see the Company's annual, quarterly and other reports filed with the Securities and Exchange Commission.

  For additional information, contact Danny Chism at (512) 314-2246.





                             EZCORP, Inc.
   Highlights of Consolidated Statements of Operations (Unaudited)
          (in thousands, except per share data and percents)


                                            Three Months Ended
                                                       June 30,
                                             ------------------
                                                   2010     2009
                                                   ----     ----
   1  Revenues:
   2      Merchandise sales                    $49,891  $50,442
   3      Jewelry scrapping sales               43,773   30,867
   4      Pawn service charges                  39,424   32,880
   5      Signature loan fees                   32,296   30,815
   6      Auto title loan fees                   4,658    1,030
   7      Other                                  3,500    1,740
   8          Total revenues                   173,542  147,774
   9  Cost of goods sold:
   10     Cost of merchandise sales             29,710   31,057
   11     Cost of jewelry scrapping sales       29,275   19,908
                                                ------
   12         Total cost of goods sold          58,985   50,965
   13 Bad debt:
   14     Signature loan bad debt                8,917    8,618
   15     Auto title loan bad debt                 836      104
                                                   ---
   16         Total bad debt                     9,753    8,722
                                                 -----
   17 Net revenue                              104,804   88,087
                      18
   19 Operations expense                        57,952   53,833
   20 Administrative expense                    13,576    9,687
   21 Depreciation and amortization              3,759    3,254
       (Gain) / Loss on sale/disposal of
   22  assets                                      734     (146)
                                                   ---
   23     Operating income                      28,783   21,459
                      24
   25 Interest income                             (135)     (59)
   26 Interest expense                             311      428
       Equity in net income of unconsolidated
   27  affiliates                               (2,930)    (851)
   28 Other                                       (100)      11
   29 Income before income taxes                31,637   21,930
   30 Income tax expense                        11,675    7,545
                                                ------
   31 Net income                               $19,962  $14,385
                                               =======
   32
   33 Net income per share, diluted              $0.40    $0.29
                                                 =====
   34 Weighted average shares, diluted          49,640   49,279
   35
   36
   37
   38 OTHER DATA:
                      ---
             Gross margin on merchandise sales
   39                         (lines (2-10)/2)    40.5%    38.4%
       Gross margin on jewelry scrapping sales
   40                         (lines (3-11)/3)    33.1%    35.5%
       Gross margin on total sales (lines
   41  ((2+3)-12)/(2+3))                          37.0%    37.3%
   42
         Signature loan bad debt as percent of
   43                        fees (lines 14/5)    27.6%    28.0%
        Auto title loan bad debt as percent of
   44                        fees (lines 15/6)    17.9%    10.1%
   45
   46 Annualized inventory turnover                4.1      3.6
   47
   48    Operating income margin (lines 23/17)    27.5%    24.4%


                                                Increase        Percent
                                               (Decrease)        Change
                                               ----------        ------
   1  Revenues:
   2      Merchandise sales                      $(551)          (1.1)
   3      Jewelry scrapping sales               12,906           41.8
   4      Pawn service charges                   6,544           19.9
   5      Signature loan fees                    1,481            4.8
   6      Auto title loan fees                   3,628          352.2
   7      Other                                  1,760          101.1
   8          Total revenues                    25,768           17.4
   9  Cost of goods sold:
   10     Cost of merchandise sales             (1,347)          (4.3)
   11     Cost of jewelry scrapping sales        9,367           47.1
                                                 -----
   12         Total cost of goods sold           8,020           15.7
   13 Bad debt:
   14     Signature loan bad debt                  299            3.5
   15     Auto title loan bad debt                 732          703.8
                                                   ---
   16         Total bad debt                     1,031           11.8
                                                 -----
   17 Net revenue                               16,717           19.0
                      18
   19 Operations expense                         4,119            7.7
   20 Administrative expense                     3,889           40.1
   21 Depreciation and amortization                505           15.5
       (Gain) / Loss on sale/disposal of
   22  assets                                      880         (602.7)
                                                   ---
   23     Operating income                       7,324           34.1
                      24
   25 Interest income                              (76)         128.8
   26 Interest expense                            (117)         (27.3)
       Equity in net income of unconsolidated
   27  affiliates                               (2,079)         244.3
   28 Other                                       (111)       (1009.1)
   29 Income before income taxes                 9,707           44.3
   30 Income tax expense                         4,130           54.7
                                                 -----
   31 Net income                                $5,577           38.8
                                                ======
   32
   33 Net income per share, diluted              $0.11           37.9
                                                 =====
   34 Weighted average shares, diluted
   35
   36                                                Amount or
                                                Percentage Point
   37                                               (ppt)
   38 OTHER DATA:                             Increase (Decrease)
                      ---                            -----------
             Gross margin on merchandise sales
   39                         (lines (2-10)/2)     2.1      ppts
       Gross margin on jewelry scrapping sales
   40                         (lines (3-11)/3)    (2.4)     ppts
       Gross margin on total sales (lines
   41  ((2+3)-12)/(2+3))                          (0.3)     ppts
  42
         Signature loan bad debt as percent of
   43                        fees (lines 14/5)    (0.4)     ppts
        Auto title loan bad debt as percent of
   44                        fees (lines 15/6)     7.8      ppts
  45
   46 Annualized inventory turnover                0.5
  47
   48    Operating income margin (lines 23/17)     3.1      ppts





                            EZCORP, Inc.
   Highlights of Consolidated Statements of Operations (Unaudited)
         (in thousands, except per share data and percents)


                                                 Nine months Ended
                                                       June 30,
                                                  -----------------
                                                      2010      2009
                                                      ----      ----
   1  Revenues:
   2      Merchandise sales                      $175,450  $156,293
   3      Jewelry scrapping sales                 117,443    78,609
   4      Pawn service charges                    118,527    92,777
   5      Signature loan fees                     102,616    98,409
   6      Auto title loan fees                     11,716     1,666
   7      Other                                     9,125     4,901
   8          Total revenues                      534,877   432,655
   9  Cost of goods sold:
   10     Cost of merchandise sales               108,056    96,348
   11     Cost of jewelry scrapping sales          75,661    51,468
                                                   ------
   12         Total cost of goods sold            183,717   147,816
   13 Bad debt:
   14     Signature loan bad debt                  22,104    23,174
   15     Auto title loan bad debt                  1,616       153
                                                    -----
   16         Total bad debt                       23,720    23,327
                                                   ------
   17 Net revenue                                 327,440   261,512
                        18
   19 Operations expense                          174,338   151,955
   20 Administrative expense                       39,356    29,892
   21 Depreciation and amortization                10,688     9,471
   22 (Gain) / Loss on sale/disposal of assets      1,301      (967)
                                                    -----
   23     Operating income                        101,757    71,161
                        24
   25 Interest income                                (151)     (257)
   26 Interest expense                              1,071     1,064
       Equity in net income of unconsolidated
   27  affiliates                                  (7,519)   (3,163)
   28 Other                                          (103)       38
   29 Income before income taxes                  108,459    73,479
   30 Income tax expense                           39,017    25,946
                                                   ------
   31 Net income                                  $69,442   $47,533
                                                  =======
   32
   33 Net income per share, diluted                 $1.40     $1.00
                                                    =====
   34 Weighted average shares, diluted             49,541    47,724
   35
   36
   37
   38 OTHER DATA:
                        ---
          Gross margin on merchandise sales (lines
   39                                    (2-10)/2)   38.4%     38.4%
           Gross margin on jewelry scrapping sales
   40                             (lines (3-11)/3)   35.6%     34.5%
       Gross margin on total sales (lines
   41  ((2+3)-12)/(2+3))                             37.3%     37.1%
   42
        Signature loan bad debt as percent of fees
   43                                 (lines 14/5)   21.5%     23.5%
       Auto title loan bad debt as percent of fees
   44                                 (lines 15/6)   13.8%      9.2%
   45
   46 Annualized inventory turnover                   4.0       3.6
   47
   48        Operating income margin (lines 23/17)   31.1%     27.2%


                                               Increase        Percent
                                              (Decrease)       Change
                                              ----------       ------
   1  Revenues:
   2      Merchandise sales                     $19,157          12.3
   3      Jewelry scrapping sales                38,834          49.4
   4      Pawn service charges                   25,750          27.8
   5      Signature loan fees                     4,207           4.3
   6      Auto title loan fees                   10,050         603.2
   7      Other                                   4,224          86.2
   8          Total revenues                    102,222          23.6
   9  Cost of goods sold:
   10     Cost of merchandise sales              11,708          12.2
   11     Cost of jewelry scrapping sales        24,193          47.0
                                                 ------
   12         Total cost of goods sold           35,901          24.3
   13 Bad debt:
   14     Signature loan bad debt                (1,070)         (4.6)
   15     Auto title loan bad debt                1,463         956.2
                                                  -----
   16         Total bad debt                        393           1.7
                                                    ---
   17 Net revenue                                65,928          25.2
   18
   19 Operations expense                    22,383          14.7
   20 Administrative expense                 9,464          31.7
   21 Depreciation and amortization               1,217          12.8
   22 (Gain) / Loss on sale/disposal of assets    2,268        (234.5)
                                                  -----
   23     Operating income                       30,596          43.0
   24
   25 Interest income                               106         (41.2)
   26 Interest expense                                7           0.7
       Equity in net income of unconsolidated
   27  affiliates                                (4,356)        137.7
   28 Other                                        (141)       (371.1)
   29 Income before income taxes                 34,980          47.6
   30 Income tax expense                         13,071          50.4
                                                 ------
   31 Net income                                $21,909          46.1
                                                =======
   32
   33 Net income per share, diluted               $0.40          40.0
                                                  =====
   34 Weighted average shares, diluted
   35
   36                                             Amount or
                                           Percentage Point
   37                                                (ppt)
   38 OTHER DATA:                              Increase (Decrease)
                   ---                             -----------
          Gross margin on merchandise sales (lines
   39                                    (2-10)/2)  0.0      ppts
           Gross margin on jewelry scrapping sales
   40                             (lines (3-11)/3)  1.1      ppts
       Gross margin on total sales (lines
   41  ((2+3)-12)/(2+3))                            0.2      ppts
   42
        Signature loan bad debt as percent of fees
   43                                 (lines 14/5) (2.0)     ppts
       Auto title loan bad debt as percent of fees
   44                                 (lines 15/6)  4.6      ppts
   45
   46 Annualized inventory turnover                 0.4
   47
   48        Operating income margin (lines 23/17)  3.9      ppts




                                 EZCORP, Inc.
            Highlights of Consolidated Balance Sheets (Unaudited)
            (in thousands, except per share data and store counts)
            ------------------------------------------------------

                                                            June 30,
                                                            2010     2009
                                                            ----     ----
   1  Assets:
   2    Current assets:
   3      Cash and cash equivalents                      $14,912  $46,546
   4      Pawn loans                                     112,807   94,648
   5      Signature loans, net                             8,915    7,649
   6      Auto title loans, net                            2,802    1,126
   7      Pawn service charges receivable, net            19,899   16,693
   8      Signature loan fees receivable, net              5,493    5,105
   9      Auto title loan fees receivable, net             1,314      352
   10     Inventory, net                                  61,181   57,141
   11     Deferred tax asset                              15,803   15,809
   12     Federal income taxes receivable                 10,655
   13     Prepaid expenses and other assets               15,179   14,866
   14          Total current assets                      268,960  259,935
                           15
   16   Investments in unconsolidated affiliates          99,773   34,784
   17   Property and equipment, net                       59,045   49,752
   18   Deferred tax asset, non-current                    5,526    9,090
   19   Goodwill                                         115,415  100,742
   20   Other assets, net                                 22,664   17,892
   21        Total assets                               $571,383 $472,195
                                                         =======
   22 Liabilities and stockholders' equity:
   23   Current liabilities:
   24     Current maturities of long-term debt           $10,000  $10,000
   25     Accounts payable and other accrued expenses     44,194   33,958
   26     Customer layaway deposits                        5,404    3,603
   27     Federal income taxes payable                              1,988
   28          Total current liabilities                  59,598   49,549
                           29
   30   Long-term debt, less current maturities           17,500   27,500
        Deferred gains and other long-term
   31    liabilities                                       2,630    3,352
   32   Total stockholders' equity                       491,655  391,794
                                                             ---
   33        Total liabilities and stockholders' equity $571,383 $472,195
                                                         =======
                           34
   35 Pawn loan balance per ending pawn store               $234     $227
   36 Inventory per ending pawn store                       $127     $137
   37 Book value per share                                 $9.99    $8.05
   38 Tangible book value per share                        $7.32    $5.65
   39 Pawn store count - end of period                       482      417
   40 Signature loan store count - end of period             497      480
   41 Shares outstanding - end of period                  49,218   48,652






                     EZCORP, Inc.
         Operating Segment Results (Unaudited)
   (in thousands, except store counts and percents)


                                                  U.S. Pawn           Empeno
  Three months ended June 30, 2010:               Operations          Facil
                                                  ----------          -----
    1    Revenues:
    2        Sales                                  $87,916          $5,579
    3        Pawn service charges                    37,014           2,410
    4        Signature loan fees                        455               -
    5        Auto title loan fees                       359               -
    6        Other                                    3,361             131
    7            Total revenues                     129,105           8,120
    8
    9    Cost of goods sold                         55,077           3,823
    10   Signature loan bad debt                       159               -
    11   Auto title loan bad debt                       44               -
                                                        ---
    12           Net revenues                        73,825           4,297
    13
    14   Operations expense                         39,148           2,999
                                                     ------
    15           Store operating income             $34,677          $1,298
                                                                     ======
    16
                Gross margin on total sales
    17                      (lines (2-9)/2)           37.4%           31.5%
    18   Annualized inventory turnover                 4.1             4.4
                 Signature loan bad debt as
    19         percent of fees (lines 10/4)           34.9%            N/A
                Auto title loan bad debt as
    20         percent of fees (lines 11/5)           12.3%            N/A
             Operating income margin (lines
    21                               15/12)           47.0%           30.2%
    22   Pawn store count - end of period              383              99
          Signature loan store count -end
    23    of period                                      6               -
    24
    25
    26   Three months ended June 30, 2009:
    27   Revenues:
    28       Sales                                  $78,519          $2,790
    29       Pawn service charges                    31,409           1,471
    30       Signature loan fees                        523               -
    31       Auto title loan fees                       430               -
    32       Other                                    1,706              34
    33           Total revenues                     112,587           4,295
    34
    35   Cost of goods sold                         49,157           1,808
    36   Signature loan bad debt                       237               -
    37   Auto title loan bad debt                       30               -
                                                        ---
    38           Net revenues                        63,163           2,487
    39
    40   Operations expense                         37,719           1,441
                                                     ------
    41           Store operating income             $25,444          $1,046
                                                                     ======
    42
                Gross margin on total sales
    43                   (lines (28-35)/28)           37.4%           35.2%
    44   Annualized inventory turnover                 3.7             2.5
                 Signature loan bad debt as
    45        percent of fees (lines 36/30)           45.3%            N/A
                Auto title loan bad debt as
    46        percent of fees (lines 37/31)            7.0%            N/A
             Operating income margin (lines
    47                               41/38)           40.3%           42.1%
    48   Pawn store count - end of period              370              47
          Signature loan store count -end
    49    of period                                      6               -


                                             EZMONEY
  Three months ended June 30, 2010:         Operations Consolidated
                                            ---------- ------------
    1    Revenues:
    2        Sales                               $169      $93,664
    3        Pawn service charges                   -       39,424
    4        Signature loan fees               31,841       32,296
    5        Auto title loan fees               4,299        4,658
    6        Other                                  8        3,500
    7            Total revenues                36,317      173,542
    8
    9    Cost of goods sold                       85       58,985
    10   Signature loan bad debt               8,758        8,917
    11   Auto title loan bad debt                792          836
                                                  ---
    12           Net revenues                  26,682      104,804
    13
    14   Operations expense                   15,805       57,952
                                               ------
    15           Store operating income       $10,877      $46,852
                                                           =======
    16
                Gross margin on total sales
    17                      (lines (2-9)/2)     49.7%        37.0%
    18   Annualized inventory turnover           N/A          4.1
                 Signature loan bad debt as
    19         percent of fees (lines 10/4)     27.5%        27.6%
                Auto title loan bad debt as
    20         percent of fees (lines 11/5)     18.4%        17.9%
             Operating income margin (lines
    21                               15/12)     40.8%        44.7%
    22   Pawn store count - end of period          -          482
          Signature loan store count -end
    23    of period                              491          497
    24
    25
    26   Three months ended June 30, 2009:
    27   Revenues:
    28       Sales                                 $-      $81,309
    29       Pawn service charges                   -       32,880
    30       Signature loan fees               30,292       30,815
    31       Auto title loan fees                 600        1,030
    32       Other                                  -        1,740
    33           Total revenues                30,892      147,774
    34
    35   Cost of goods sold                        -       50,965
    36   Signature loan bad debt               8,381        8,618
    37   Auto title loan bad debt                 74          104
                                                  ---
    38           Net revenues                  22,437       88,087
    39
    40   Operations expense                   14,673       53,833
                                               ------
    41           Store operating income        $7,764      $34,254
                                                            ======
    42
                Gross margin on total sales
    43                   (lines (28-35)/28)      N/A         37.3%
    44   Annualized inventory turnover           N/A          3.6
                 Signature loan bad debt as
    45        percent of fees (lines 36/30)     27.7%        28.0%
                Auto title loan bad debt as
    46        percent of fees (lines 37/31)     12.3%        10.1%
             Operating income margin (lines
    47                               41/38)     34.6%        38.9%
    48   Pawn store count - end of period          -          417
          Signature loan store count -end
    49    of period                              474          480





                     EZCORP, Inc.
        Operating Segment Results (Unaudited)
   (in thousands, except store counts and percents)


                                                  U.S. Pawn           Empeno
    Nine months ended June 30, 2010:              Operations           Facil
                                                  ----------           -----
    1    Revenues:
    2        Sales                                 $278,314          $14,346
    3        Pawn service charges                   112,211            6,316
    4        Signature loan fees                      1,442                -
    5        Auto title loan fees                     1,261                -
    6        Other                                    8,771              346
    7            Total revenues                     401,999           21,008
    8
    9    Cost of goods sold                        173,348           10,253
    10   Signature loan bad debt                       446                -
    11   Auto title loan bad debt                      166                -
                                                        ---
    12           Net revenues                       228,039           10,755
    13
    14   Operations expense                        119,259            7,736
                                                    -------
    15           Store operating income            $108,780           $3,019
                                                                      ======
    16
                Gross margin on total sales
    17                      (lines (2-9)/2)           37.7%            28.5%
    18   Annualized inventory turnover                 3.9              4.5
                 Signature loan bad debt as
    19         percent of fees (lines 10/4)           30.9%             N/A
                Auto title loan bad debt as
    20         percent of fees (lines 11/5)           13.2%             N/A
             Operating income margin (lines
    21                               15/12)           47.7%            28.1%
    22   Pawn store count - end of period              383               99
          Signature loan store count -end
    23    of period                                      6                -
    24
    25
    26   Nine months ended June 30, 2009:
    27   Revenues:
    28       Sales                                 $227,494           $7,408
    29       Pawn service charges                    88,558            4,219
    30       Signature loan fees                      1,766                -
    31       Auto title loan fees                       991                -
    32       Other                                    4,866               35
    33           Total revenues                     323,675           11,662
    34
    35   Cost of goods sold                        143,167            4,649
    36   Signature loan bad debt                       581                -
    37   Auto title loan bad debt                       72                -
                                                        ---
    38           Net revenues                       179,855            7,013
    39
    40   Operations expense                        102,764            4,024
                                                    -------
    41           Store operating income             $77,091           $2,989
                                                                      ======
    42
                Gross margin on total sales
    43                   (lines (28-35)/28)           37.1%            37.2%
    44   Annualized inventory turnover                 3.7              2.2
                 Signature loan bad debt as
    45        percent of fees (lines 36/30)           32.9%             N/A
                Auto title loan bad debt as
    46        percent of fees (lines 37/31)            7.3%             N/A
             Operating income margin (lines
    47                               41/38)           42.9%            42.6%
    48   Pawn store count - end of period              370               47
          Signature loan store count -end
    49    of period                                      6                -


                                            EZMONEY
   Nine months ended June 30, 2010:        Operations Consolidated
                                           ---------- ------------
   1    Revenues:
   2        Sales                               $233     $292,893
   3        Pawn service charges                   -      118,527
   4        Signature loan fees              101,174      102,616
   5        Auto title loan fees              10,455       11,716
   6        Other                                  8        9,125
   7            Total revenues               111,870      534,877
   8
   9    Cost of goods sold                      116      183,717
   10   Signature loan bad debt              21,658       22,104
   11   Auto title loan bad debt              1,450        1,616
                                               -----
   12           Net revenues                  88,646      327,440
   13
   14   Operations expense                   47,343      174,338
                                              ------
   15           Store operating income       $41,303     $153,102
                                                          =======
   16
               Gross margin on total sales
   17                      (lines (2-9)/2)     50.2%        37.3%
   18   Annualized inventory turnover           N/A          4.0
                Signature loan bad debt as
   19         percent of fees (lines 10/4)     21.4%        21.5%
               Auto title loan bad debt as
   20         percent of fees (lines 11/5)     13.9%        13.8%
            Operating income margin (lines
   21                               15/12)     46.6%        46.8%
   22   Pawn store count - end of period          -          482
         Signature loan store count -end
   23    of period                              491          497
   24
   25
   26   Nine months ended June 30, 2009:
   27   Revenues:
   28       Sales                                 $-     $234,902
   29       Pawn service charges                   -       92,777
   30       Signature loan fees               96,643       98,409
   31       Auto title loan fees                 675        1,666
   32       Other                                  -        4,901
   33           Total revenues                97,318      432,655
   34
   35   Cost of goods sold                        -      147,816
   36   Signature loan bad debt              22,593       23,174
   37   Auto title loan bad debt                 81          153
                                                 ---
   38           Net revenues                  74,644      261,512
   39
   40   Operations expense                   45,167      151,955
                                              ------
   41           Store operating income       $29,477     $109,557
                                                          =======
   42
               Gross margin on total sales
   43                   (lines (28-35)/28)      N/A         37.1%
   44   Annualized inventory turnover           N/A          3.6
                Signature loan bad debt as
   45        percent of fees (lines 36/30)     23.4%        23.5%
               Auto title loan bad debt as
   46        percent of fees (lines 37/31)     12.0%         9.2%
            Operating income margin (lines
   47                               41/38)     39.5%        41.9%
   48   Pawn store count - end of period          -          417
         Signature loan store count -end
   49    of period                              474          480

First Call Analyst:
FCMN Contact: Laura_Jones@ezcorp.com

Photo: http://www.newscom.com/cgi-bin/prnh/20090713/EZCORPLOGO
http://photoarchive.ap.org/
http://photos.prnewswire.com/prnh/20090713/EZCORPLOGO
PRN Photo Desk, photodesk@prnewswire.com

SOURCE: EZCORP, Inc.

CONTACT: Danny Chism, +1-512-314-2246, for EZCORP, Inc.

Web Site: http://www.ezcorp.com/

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