X0202 4 2005-02-24 0001185348 PORTFOLIO RECOVERY ASSOCIATES INC PRAA 0001203422 ROBERTS DAVID N 245 PARK AVENUE - 26TH FLOOR NEW YORK NY 10167 1 0 0 0 Common Stock 2005-02-24 4 J 0 46021 0 A 49521 D Common Stock 2005-02-24 4 J 0 57711 0 A 57711 I See footnote The Reporting Person directly received an aggregate of 46,021 shares of the Issuer's common stock, par value $.01 per share ("Shares"), for no consideration in pro rata distributions from each of PRA Investments, L.L.C., a Delaware limited liability company, and AG Funds GP, L.P., a Delaware limited partnership ("AG Funds GP"). Trusts for which the Reporting Person is a beneficiary received an aggregate of 57,711 Shares for no consideration in a pro rata distribution from AG Funds GP. The Reporting Person disclaims beneficial ownership of such Shares except to the extent of his pecuniary interest therein. The filing of this statement shall not be deemed an admission that the Reporting Person is the beneficial owner of any securities not held directly for his account for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise. David N. Roberts 2005-02-25