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Kaulkin Ginsberg Index Leaps Forward

Index Approaches Historical High

July 14, 2005: BETHESDA, MD - The Kaulkin Ginsberg Index (KGI), the leading indicator of economic conditions affecting the accounts receivable management (ARM) industry, increased a robust 5.4% in May to 1270.2, nearing its high of 1276.4 in December 2004. The KGI is also up 9.7% year over year.

"The public markets looked very favorably on the ARM industry during the month of May, and this contributed significantly to KGI's gains," said Paul Legrady, Director of Kaulkin Ginsberg's Research Group. "The recent performance of the KGI is a good sign for all companies in this industry."

The total market capitalization of publicly traded ARM stocks increased 12.9% in May to $3.03 billion. This affected the KGI much more significantly than the widely reported 0.1% decrease in consumer credit. The seven variables contributing to the KGI changed as follows between April and May 2005.

Variable
May 2005
Variable
Change*
Effect on KGI
Unemployment Rate
5.1%
3.6%
Up
Federal Funds Rate
3.0%
7.5%
Up
Charge-off Rate
0.54%
0%
None
Outstanding Consumer Credit
$2.13T
-0.1%
Down
Total Market Cap of ARM Stocks
$3.03B
12.9%
Up
Bankruptcy Filings
401,149
0%
None
Consumer Price Index
194.4
-0.1%
Down
* See "How is the KGI Calculated," www.kaulkin.com/research/kgi/calculate.cfm

The KGI is a product of Kaulkin Ginsberg's Research Group, which provides industry-specific publications and custom research services to the ARM industry. The Research Group recently published the 6th Edition of The Kaulkin Report, the authoritative reference on the ARM industry.

For more information about the Kaulkin Ginsberg Index, visit www.kaulkin.com/research/kgi.cfm or call Paul Legrady, Director of Kaulkin Ginsberg's Research Group, at 301-907-0840 ext. 104.

About Kaulkin Ginsberg Company
Kaulkin Ginsberg is a diversified strategic advisory, media and technology company, providing solutions to accounts receivable management (ARM) and other business services industries since 1989. Strategic advisory services include merger, acquisition and valuation advice, research, growth and operational consulting as well as training and executive search. Kaulkin Ginsberg's Research Group meets the market's demand for industry-related market intelligence, leveraging nearly 15 years of industry insight and proprietary data to support industry professionals and investors in their business decisions. Kaulkin Media publishes CollectionIndustry.com™ and Credit & Collection Daily™, and is the most popular source of industry information. Kaulkin Partners brings the latest technology to creditors and collectors. Read more about Kaulkin Ginsberg at www.kaulkin.com.