Rockland Credit Puts Into Place Agented Refinancing of Aegis

June 23, 2005

Rockland Credit Finance LLC, an asset-based lender and factoring company, recently completed a $7.5 million factoring facility for Aegis Communications Group, a Texas-based call center firm. The factoring facility has been, and will be, used to refinance existing debt, to provide letters of credit, and for ongoing working capital. (Factoring is a form of financing in which a company sells its accounts receivable to another firm.) Aegis, which is publicly traded, used to have a revolving line of credit of its receivables with Foothill Capital (Wells Fargo).�

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“Rockland Credit is able to give Aegis a higher advance rate and more funding, because of its verification/notification techniques,”�noted Rockland Credit President John Fox. “This translates into more funds being made available, when compared to their previous arrangements. Furthermore, I feel that even though the American call center industry has been hit very hard by Asian competition — it appears to be getting its ‘second wind’ and enjoying new development through offering new, more sophisticated services.”�

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Fox continued: “This is a sizable transaction for Rockland Credit which is why we are enthusiastic.�And we are very well set up to track the nature of details required for this particular type of operation.”