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NCO Enters Into Settlement Agreement With the State of Texas

Posted on: Friday, 5 December 2008, 14:39 CST

HORSHAM, Pa., Dec. 5 /PRNewswire/ -- NCO Group, Inc. ("NCO" or the "Company"), a leading provider of business process outsourcing services, announced today that it has signed an Assurance of Voluntary Compliance ("AVC") with the State of Texas. Under the terms of the AVC, NCO, without admitting any wrongdoing, has agreed to pay Texas $250,000, which includes a reimbursement of $150,000 for the State's legal expenses and $100,000 to the Texas general revenue fund. NCO has also agreed to spend in excess of $300,000 over the next three years on its compliance programs and to establish a restitution fund of up to $150,000.

NCO intends to deploy additional technology designed to further strengthen its communication with consumers and to assist consumers in resolving disputes that arise from time to time in the collection process. These enhancements will permit the Company to better monitor the quality of its communications as well as provide web access for consumers to communicate more effectively regarding their accounts.

Commenting on these recent developments Michael J Barrist, NCO Chairman and CEO, stated "NCO is proud of its record on consumer compliance. We are pleased to be able to resolve Texas's concerns within a framework that will allow us to improve our consumer interaction not only in Texas but within all of our markets. As the largest provider of accounts receivable collection services in the world, we truly believe that our new initiatives will set the standard for the entire industry."

For further information: NCO Group, Inc. (215) 441-3000 www.ncogroup.com

About NCO Group, Inc.

NCO Group, Inc. is a global provider of business process outsourcing services, primarily focused on accounts receivable management and customer relationship management. NCO provides services through over 125 offices in the United States, Canada, the Philippines, Panama, the Caribbean, India, the United Kingdom, Mexico and Australia.

SOURCE NCO Group, Inc.

Source: PR Newswire

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