Advanta Prices Securitization Backed by Business Purpose Credit Card R

    Business Editors

    SPRING HOUSE, Pa.--(BUSINESS WIRE)--April 7, 2005--Advanta Corp. (NASDAQ:ADVNB; ADVNA) announced today that its wholly-owned subsidiary, Advanta Business Receivables Corp., has priced a $100 million business credit card securitization, backed by receivables in revolving business purpose credit card accounts originated by Advanta Bank Corp. The transaction is expected to close on or about April 21, 2005.
    Advanta Business Card Master Trust, AdvantaSeries Class B (2005-B1) note issuance is the tenth publicly offered transaction issued by the trust. The AdvantaSeries Class B (2005-B1) transaction is comprised of $100 million of five-year notes. The coupon on the notes will be 38 basis points over one-month LIBOR. This is the second publicly offered tranche of notes issued under the AdvantaSeries structure which de-links the issuance of senior and subordinated notes. The first publicly offered tranche of notes, AdvantaSeries Class C (2004-C1), was issued in November 2004.
    Deutsche Bank Securities is the lead manager and Merrill Lynch & Co. is the co-manager on the AdvantaSeries Class B (2005-B1) transaction. It is anticipated that the notes will receive ratings from Standard & Poor's and Moody's. Advanta will retain the servicing and customer relationships of the revolving business credit card accounts.
    Advanta focuses on the small business market and related community, providing funding and support to the nation's small businesses through innovative products and services. Using its direct marketing and information based expertise, Advanta identifies potential customers and provides a high level of service tailored to the unique needs of small businesses. Advanta is one of the nation's largest issuers (through Advanta Bank Corp.) of MasterCard business credit cards to small businesses. Since 1951, Advanta has pioneered many of the marketing techniques common in the financial services industry today, including remote lending and direct mail, affinity and relationship marketing. Learn more about Advanta at www.advanta.com.

    Any statements released by Advanta that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any forward-looking statements involve risks and uncertainties, which may affect the Company's business and prospects. At present, significant risks and uncertainties involve factors that could impact the timing of or likelihood of the closing of the securitization including: obtaining the ratings by the named rating agencies; receivables volume; attrition rates; the effects of governmental regulation; and adverse market conditions. Additional risks that may affect future performance are detailed in the Company's filings with the SEC.

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CONTACT: Advanta Corp. Christopher Curran, Investor Relations 215-444-5335 ccurran@advanta.com or Michael Coco, Treasury 302-529-6534 mcoco@advanta.com

KEYWORD: PENNSYLVANIA INDUSTRY KEYWORD: BANKING SOURCE: Advanta Corp.

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