August 9

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Retail Alliance Sells Two Business Divisions

August 9, 2004

Norfolk, VA - Virginia’s oldest retail merchants association, Retail Alliance, has sold its Recovery Services and Mortgage Credit Report divisions to First Point Resources, a financial and credit services company headquartered in Greensboro, N.C.

The sale was complete July 30, 2004. In addition to its North Carolina locations, First Point has offices in Lynchburg and Roanoke, Virginia. Several Retail Alliance employees will join First Point and continue serving their recovery and credit customers throughout the Hampton Roads region.

“As a result of strategic planning for the future, the Retail Alliance board of directors has chosen to focus the organization’s growth on retail businesses, membership development and providing exceptional support to grow the retail industry, regionally and statewide” said C. Donald Porter, CEO/President of Retail Alliance. “We are expanding our original mission developed in 1903 – to serve retail businesses with the most up-to-date resources they need to prosper and succeed.”

Mr. Porter noted that the transition from Retail Alliance to First Point is a seamless operation. First Point was founded in Greensboro at the turn of the century and is similar to Retail Alliance in its emphasis on customer service, business ethics, entrepreneurship, technological support and employee development. First Point employees will join Retail Alliance staff at the Norfolk headquarters this week to call on customers and make sure their needs are met during the transition.

Retail Alliance will continue its Equifax sales representation, Hire Vu pre-employment screening, and Certegy check guarantee services. “These divisions are fully integrated with and support the retail association side of our organization,” said Mr. Porter.

The Retail Alliance sales and marketing territory encompasses the five South Hampton Roads cities; Petersburg and Colonial Heights; the Outer Banks and eastern North Carolina; James City County and Williamsburg; and the Peninsula localities.

Retail Alliance is a regional retail merchants association serving businesses with training and education; co-op advertising; loss prevention and security expertise; government relations at the local, state and federal levels; and meeting room space.

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