AACE Ace Cash Express

ACE Cash Express to Offer Additional Shares of Common Stock DALLAS, March 17 /PRNewswire-FirstCall/ -- ACE Cash Express, Inc. today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed offering of 2,900,000 shares of its common stock. The Company will offer 1,800,000 shares and selling shareholders will offer 1,100,000 shares. The Company and selling shareholders will also grant the underwriters a 30-day option to purchase up to an additional 435,000 shares for over-allotment purposes. The Company will not receive any proceeds from the sale of shares of common stock by the selling shareholders. The Company intends to use the net proceeds from this offering for the repayment in full of the principal amount of its existing senior subordinated secured promissory notes, with the remaining net proceeds to pay down amounts outstanding under the Company's revolving credit facilities pending use for general corporate purposes, including potential acquisitions, capital expenditures and working capital. Thomas Weisel Partners LLC is serving as the book managing underwriter for the offering. Stephens Inc., JMP Securities and Roth Capital Partners are serving as co-managers for the offering. When available, copies of the prospectus related to this offering may be obtained from: Thomas Weisel Partners LLC One Montgomery Street, Suite 3700 San Francisco, CA 94104 or by calling 415-364-2500 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Forward-Looking Statements This release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are generally identified by the use of words such as "expect," "anticipate," "estimate," "believe," "intend," "plan," "target," "goal," "should," "would," and terms with similar meanings. Although ACE believes that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations, and the related statements, are based on the assumptions of ACE's management and are inherently subject to risks, uncertainties, and other factors, many of which are not under ACE's control and may not even be predictable. Any inaccuracy in the assumptions, as well as those risks, uncertainties, and other factors, could cause the actual results to differ materially from those projected in the forward-looking statements. Those risks, uncertainties, and factors include, but are not limited to, matters described in ACE's reports filed with the Securities and Exchange Commission, such as: -- Competition within the check-cashing industry as well as from banks, saving and loans, short-term consumer lenders, and other similar financial services entities and from other retail businesses that offer products and services offered by ACE; -- Maintenance of relationships with providers of financing for ACE and with key providers of products and services either offered by ACE to its customers or used by ACE in its business; -- Changes in laws, regulations oraccounting standards and decisions or actions taken by courts, regulators and governmental authorities; -- Availability of financing, suitable locations, acquisition opportunities and experienced management to implement ACE's growth strategy; -- Increases in interest rates, which would increase ACE's borrowing costs; -- Lawsuits and regulatory proceedings and their respective results, including settlements. ACE does not assume, but expressly disclaims, any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in ACE's views or expectations, or otherwise. ACE makes no prediction or statement about the performance of ACE's Common Stock. About the Company Ace Cash Express, Inc. is a leading retailer of financial services, including check cashing, short-term consumer loan and bill payment services and the largest owner, operator and franchisor of check cashing stores in the United States. As of December 31, 2003, the Company had a network of 1,184 stores in 36 states and the District of Columbia, consisting of 974 company-owned stores and 210 franchised stores. The Company focuses on serving unbanked and underbanked consumers, many of whom seek alternatives to traditional banking relationships in order to gain convenient and immediate access to check cashing services and short-term consumer loans. The Company's website is found at http://www.acecashexpress.com/ . DATASOURCE: ACE Cash Express, Inc. CONTACT: William McCalmont, EVP & Chief Financial Officer, +1-972-753-2314, or , or Michael Briskey, SVP & Treasurer, +1-972-753-2342, or , both of ACE Cash Express, Inc. Web site: http://www.acecashexpress.com/

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