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Exhibit 99.1

FOR IMMEDIATE RELEASE
Contact:	Allan Crawford Investor Relations (770) 206-6200

COMPUCREDIT REPORTS FOURTH QUARTER RESULTS

ATLANTA, GA, February 17, 2004—CompuCredit (NASDAQ: CCRT) reported fourth quarter 2003 net income attributable to common shareholders of $10.8 million, or $0.23 per diluted share, as compared to its fourth quarter 2002 net income attributable to common shareholders of $16.7 million, or $0.35 per diluted share. The Company's net income attributable to common shareholders for the year ended December 31, 2003 was $117.4 million, or $2.34 per diluted share, as compared to its net income attributable to common shareholders for the year ended December 31, 2002 of $1.7 million, or $0.04 per diluted share.

The net interest margin was 20.2 percent in the fourth quarter of 2003 as compared to 17.1 percent for the fourth quarter of 2002. The adjusted charge-off rate was 7.8 percent in the fourth quarter of 2003 as compared to 9.2 percent for the fourth quarter of 2002. At December 31, 2003, the 60-plus day delinquency rate was 12.0 percent, as compared to 13.9 percent at December 31, 2002.

The Company also announced today that it has completed a new two-year $1.25 billion securitization facility with Merrill Lynch that will better enable the Company to originate new accounts and receivables within its master trust. "We are excited about this new strategic relationship with Merrill Lynch as it will allow us to once again grow our organic business with attractive equity returns," commented David Hanna, CompuCredit's Chief Executive Officer and Chairman of the Board. He added that "This new facility not only addresses our prior concerns about the market's reluctance to provide favorable advance rates, but it also should help us to achieve sustained growth in our originated portfolio, with downside liquidity protections under which we will have the cash that we need to service the originated portfolio should we ever decide to stop growing it at some point in the future." In connection with the completion of this facility, which has the potential to increase in size from $1.25 billion to $1.5 billion in its second year, the Company issued Merrill Lynch warrants to acquire up to 2.4 million shares of the Company's common stock. Michael Blum, Managing Director and head of the Global Asset Based Finance, Securitization and Principal Transactions Group at Merrill Lynch, commented, "We are very pleased to significantly deepen the lending and co-investing relationship that we have had with CompuCredit over the years. This program enhances our origination and principal investment capabilities and our overall presence in the credit card securitization market. By combining CompuCredit's experience in originating, underwriting, and servicing credit card loans with the secured financing, principal investment and asset backed securitization capabilities provided by our structured finance platform, we have created an efficient means of acquiring, originating, servicing and funding credit card assets."

Various references within this press release are to the managed credit card receivables underlying the Company's off balance sheet securitization facilities. Performance metrics and data based on these managed receivables are key to any evaluation of the Company's performance in managing (including underwriting, valuing purchased receivables, servicing and collecting) the portfolios of receivables underlying the Company's securitization facilities. The Company allocates resources within the

Company and manages the Company using financial data and results prepared on a so-called "managed basis." It is also important to analysts, investors and others that the Company provides selected metrics and data on a managed basis because it is through the Company's reporting on this basis that they are able to compare CompuCredit to others within the specialty finance industry. Moreover, the Company's management, analysts, investors and others believe it is critical that they understand the credit performance of the entire portfolio of the Company's managed credit card receivables because it reveals information concerning the quality of loan originations and the related credit risks inherent within the securitized portfolios and the Company's retained interests in the securitization facilities.

Managed receivables data assumes that none of the credit card receivables underlying the Company's off balance sheet securitization facilities were ever transferred to securitization facilities and presents the net credit losses and delinquent balances on the receivables as if the Company had still owned the receivables. Reconciliation of the managed receivables data to CompuCredit's GAAP financial statements requires recognition that substantially all (i.e., all but $23.4 million) of the Company's credit card receivables had been sold in securitization transactions as of December 31, 2003; this reconciliation requires the removal of all but $23.4 million of the managed receivables data from the Company's books and records to yield only the $23.4 million of originated credit card receivables and associated statistics under GAAP, coupled with the recording under GAAP of retained interests in various securitization structures.

Further details regarding CompuCredit's fourth quarter financial performance will be discussed during management's conference call on Wednesday, February 18, 2004 at 8:30 a.m. Eastern Time. The media and public are invited to listen to the live webcast of the call, accessible on the Internet at http://www.CompuCredit.com. The conference call will be archived at the above web site for those interested parties that are unable to attend at this time.

CompuCredit is a credit card company that uses analytical techniques to serve consumers it believes to be underserved by traditional grantors of credit. Credit cards marketed by CompuCredit are generally issued by Columbus Bank and Trust Company under an agreement with CompuCredit. For more information about CompuCredit, visit http://www.CompuCredit.com.

This release includes forward-looking statements, including the Company's expectations with respect to growing its originated portfolio and the impact of the new Merrill Lynch facility. The words "will," "looking forward," "should" and similar expressions also are intended to identify forward-looking statements; however, this release also contains other forward-looking statements that may not be so identified. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond CompuCredit's control. Actual results may differ materially from those suggested by the forward-looking statements. Accordingly, there can be no assurance that such indicated results will be realized. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the factors set forth in "Item 1. Business—Risk Factors" of the Company's Annual Report on Form 10-K/A for the year ended December 31, 2002, and (1) competition from other credit card issuers on the ability of the Company to grow its originated credit card portfolio, (2) the ability of the Company to efficiently and effectively identify profitable customers, and (3) general economic conditions and their impact on consumer and debt repayment practices. CompuCredit expressly disclaims any obligation to update any forward-looking statements in any manner except as may be required by law.

CompuCredit Corporation (CCRT)
Financial and Statistical Summary
(Unaudited)

	At or For the Three Months Ended
	December 31, 2003			September 30, 2003			December 31, 2002
	(In thousands, except per share data)
Common Share Statistics
EPS—Basic	$	0.23		$	1.12		$	0.35
EPS—Diluted	$	0.23		$	1.11		$	0.35
Book Value Per Common Share Outstanding (period end) (1)	$	11.10		$	10.90		$	8.82
Stock Price Per Share (period end)	$	21.28		$	17.50		$	7.07
Total Market Capitalization (period end)	$	1,000,437		$	819,893		$	325,052
Shares Outstanding (period end)		47,013			46,851			45,976
Weighted Average Shares O/S—Basic		51,493			51,299			50,633
Weighted Average Shares O/S—Diluted		52,482			51,870			50,703
Average Managed Receivables Statistics (2)
Average Managed Receivables	$	2,419,674		$	2,469,194		$	2,912,482
Average Shareholders' Equity	$	569,897		$	529,876		$	440,007
Net Interest Margin		20.2	%		20.9	%		17.1	%
Return on Average Managed Receivables		2.0	%		9.3	%		2.4	%
Return on Average Equity (ROE)		8.3	%		43.4	%		16.2	%
Net Charge-Off Rate		15.0	%		15.5	%		17.0	%
Adjusted Charge-Off Rate		7.8	%		8.9	%		9.2	%
Adjusted Charge-Offs	$	47,304		$	54,798		$	67,193
Risk Adjusted Margin		21.9	%		21.1	%		13.7	%
Operating Ratio		8.4	%		8.8	%		8.3	%
Other Credit Card Income ratio		9.3	%		8.8	%		6.0	%
Period-End Selected Credit Card Data (2)
Total Managed Receivables	$	2,340,898		$	2,518,822		$	2,795,888
Delinquency Rate (60+ days)		12.0	%		10.9	%		13.9	%
Number of Accounts		2,416			2,637			3,562
Shareholders' Equity	$	574,013		$	560,849		$	447,868
Equity to Managed Receivables Ratio		24.5	%		22.3	%		16.0	%

(1)

Assumes preferred shares are converted into common shares as of end of each period.

(2)

Excludes receivables at or near charge-off at the time of purchase.

CompuCredit Corporation and Subsidiaries
Consolidated Balance Sheets

	December 31, 2003			December 31, 2002
	(Dollars in thousands)
Assets
Cash and cash equivalents	$	110,605		$	120,416
Restricted cash		11,921			10,112
Retained interests in credit card receivables securitized		538,961			291,439
Amounts due from securitization		4,199			7,235
Accounts receivable, net		16,271			—
Deferred costs, net		7,750			8,314
Software, furniture, fixtures and equipment, net		24,307			29,296
Investment in equity method investee		6,577			15,593
Investment in previously charged off receivables		13,960			—
Investment in debt securities		15,007			18,819
Prepaid expenses and other assets		11,797			17,691
Total assets	$	761,355		$	518,915
Liabilities
Accounts payable and accrued expenses	$	28,381		$	32,570
Deferred revenue		9,895			8,979
Income tax liability		96,491			29,498
Total liabilities		134,767			71,047
Minority interest		52,575			—
Shareholders' equity
Preferred stock, no par value, 10,000,000 shares authorized:
Series A preferred stock, 30,000 shares issued and 25,000 and 30,000 shares outstanding at December 31, 2003 and December 31, 2002, respectively		29,816			32,466
Series B preferred stock, 10,000 shares issued and outstanding at December 31, 2003 and December 31, 2002, respectively		12,181			11,035
Common stock, no par value, 150,000,000 shares authorized; 47,885,506 and 46,809,165 issued at December 31, 2003 and December 31, 2002, respectively		—			—
Additional paid-in capital		250,943			241,400
Treasury stock, at cost, 872,900 and 832,900 shares at December 31, 2003 and December 31, 2002, respectively		(4,586	)		(4,338	)
Deferred compensation		(593	)		(1,013	)
Note issued to purchase stock		—			(500	)
Retained earnings		286,252			168,818
Total shareholders' equity		574,013			447,868
Total liabilities and shareholders' equity	$	761,355		$	518,915

CompuCredit Corporation and Subsidiaries
Consolidated Statements of Income (Unaudited)

		For the Three Months Ended									For the Year Ended
		December 31, 2003			September 30, 2003			December 31, 2002			December 31, 2003			December 31, 2002
		(Dollars in thousands, except per share data)
Net Interest income (expense) (1) (2)		$	5,126		$	3,026		$	(725	)	$	4,659		$	(5,085	)
Other operating income:
	Securitization income (loss), net		—			31,385			—			31,385			(18	)
	Income (loss) from retained interests in credit card receivables securitized		10,166			76,873			8,462			134,112			(25,049	)
	Servicing income		23,641			21,303			31,125			97,473			66,665
	Fees and other income		49,504			41,747			30,472			158,514			126,590
	Equity in income (loss) of equity-method investee		37			(269	)		21,620			27,676			45,717
Total other operating income			83,348			171,039			91,679			449,160			213,905
Other operating expense:
	Salaries and benefits		5,017			5,619			6,227			19,405			18,514
	Credit card servicing		32,236			34,827			43,047			138,566			122,939
	Marketing and solicitation		4,343			2,646			2,505			11,403			11,907
	Depreciation		3,955			3,906			3,861			15,631			14,801
	Bad debt provision		4,681			2,280			—			7,059			—
	Other (3)		9,480			9,108			7,961			35,812			31,627
Total other operating expense			59,712			58,386			63,601			227,876			199,788
Income before income taxes and minority interest			28,762			115,679			27,353			225,943			9,032
Minority interest			(10,295	)		(26,938	)		—			(37,233	)		—
Income before income taxes			18,467			88,741			27,353			188,710			9,032
Income taxes			(6,634	)		(31,221	)		(9,573	)		(66,992	)		(3,161	)
Net income		$	11,833		$	57,520		$	17,780		$	121,718		$	5,871
Net income attributable to common shareholders		$	10,787		$	56,496		$	16,699		$	117,434		$	1,703
Average shares outstanding—basic			51,493			51,299			50,633			51,212			46,384
Average shares outstanding—diluted			52,482			51,870			50,703			51,914			46,412
Net income per share—basic (4)		$	0.23		$	1.12		$	0.35		$	2.38		$	0.04
Net income per share—diluted (4)		$	0.23		$	1.11		$	0.35		$	2.34		$	0.04

(1)

Interest income, net includes $447, $236, $0, $683, and $0 (in thousands) for the respective periods related to our minority interest partner's share of interest income.

(2)

Interest income, net, includes $2,544, $512, $0, $3,056, and $0 (in thousands) for the respective periods related to interest earned on unsecuritized credit card receivables, the interest on which is reflected in the Company's net interest margin calculation and the receivables of which are reflected in the Company's average managed receivables balances.

(3)

Other operating expense includes ancillary product expenses of $285, $420, $770, $1,895 and $4,832 (in thousands) for the respective periods.

(4)

For the twelve months ended December 31, 2002, the effects of the preferred shares, which are convertible into common shares, were excluded from the EPS computations because their inclusion would have been anti-dilutive.

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COMPUCREDIT REPORTS FOURTH QUARTER RESULTS