Direct2Own Will Have Access to a Corporate Credit Line to Enable
Continued Growth and Sales
First Private Bank & Trust Will Work Closely with Direct Response
Financial Services in Developing and Growing its Business
LOS ANGELES, Nov. 14, 2005 (PRIMEZONE) -- Direct Response Financial Services, Inc. (OTCBB:DRFL), a leading provider of stored value and debit card products and services to Hispanics and other underserved consumers, today announced that it has obtained a credit line from First Private Bank & Trust located in Los Angeles, California, as part of the Company's strategic plan to grow its Direct2Own division.
"With the continuous growth of our Direct2Own division we needed a good banking partner with a banking management team capable of appreciating our business model. First Private Bank & Trust understands our company and our desire to service the large segment of underserved and under-banked consumers. With their help we feel confident that we will have the capital needed to grow our business," said T. Randolph Catanese, CEO and President of Direct Response Financial Services, Inc.
Richard Taylor, President and CEO of First Private Bank & Trust, remarked, "Our bank looks for strong entrepreneurial based companies. The Direct Response Financial Services business presents a very unique customer for our bank. By delivering merchandise and financial products to the unbanked or underserved they, in effect, make a profit by managing risk that others cannot. We feel that they present a great opportunity for our bank."
Direct2Own enables individuals with no credit or bad credit to purchase items such as computers, televisions, cell phones and audio equipment with just a small down payment and affordable monthly payments. The launch of Direct2Own expands Direct Response Financial Services' business into the multi-billion dollar retail electronics market. Direct2Own also functions as a platform to sell debit cards to the target customer group. Customers will also have the opportunity to acquire a Direct Card Services DCS Media Card MasterCard which will additionally enable customers to make timely payments for purchased products. Further, Direct2Own will offer a credit building service to customers on a monthly subscription basis.
Direct2Own is currently marketing through the television, the Internet, and print media. Orders are taken online and by phone. For more information please visit www.Direct2own.com.
About First Private Bank & Trust
First Private Bank & Trust is owned by Boston Private Financial Holdings, a financial services company which owns independently operated affiliates located in key geographic regions of the U.S. Boston Private's affiliates offer private banking, wealth advisory and investment management services to the high net worth marketplace, selected businesses and institutions. The Company's strategy is to enter new markets primarily through selected acquisitions, and then expand its wealth management business by way of organic growth. It makes investments in mid-size firms in demographically attractive areas, forming geographic clusters that represent the firm's core competencies. Boston Private provides continuing assistance to its affiliates with strategic matters, marketing, compliance and operations. For more information about Boston Private, visit the Company's web site at http://www.bostonprivate.com.
About Direct Response Financial Services, Inc.
Direct Response Financial Services, Inc. provides financial, technology and marketing solutions for serving unbanked and under-banked consumers. The Company continues to focus on the issuance of pre-paid cash card products to Hispanics in the United States. Through its proprietary loading network, the DirectLoad Network(TM), the Company allows its customers an easy and convenient means to load their pre-paid cash cards and to obtain other financial services. Its consumer electronics retail site, located at www.Direct2own.com offers consumer electronics to the under-banked and unbanked. For more information on the Company please visit www.drfs.net or visit www.directcardservices.net. To learn more about its pre-paid products please visit www.dcsmediacard.com. And, to learn more about the Company's consumer electronics offers please visit www.Direct2own.com.
Statements that are not historical facts are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, and the effect of adverse publicity, litigation, competition and other factors that may be identified from time to time in the Company's public announcements.