Johnson, Morgan & White Acquires National Commercial Collection Agency

Delray Beach, Fla., February 1, 2003 - Johnson, Morgan & White announced today that it has completed the first of several planned acquisitions with the purchase of Titan Business Solutions, Inc., a national Commercial Collection Agency based in Deerfield Beach, Fla.

Titan Business Solutions, which was established in 1997 and primarily handles business-to-business collections, has a large national and international client base, which includes many Fortune 500 Public and Private Companies.

"This acquisition greatly expands our client base and establishes Johnson, Morgan and White as an emerging force in the Commercial Collections business," said Robert Cooper, president of Johnson, Morgan & White, which is based in Delray Beach, Fla. "Our goal is to ultimately be one of the top five Commercial Collection Agencies in the country, and we're well on our way to achieving that goal."

The employees of Titan Business Solutions have joined Johnson, Morgan & White, and all clients and debtor accounts have been transferred, Cooper said. No other terms of the transaction were disclosed.

"The acquisition of such an established business as Titan Business Solutions, together with the up-to-date collections technologies and techniques utilized by Johnson, Morgan & White, positions our company to experience even more growth," Cooper said. "This is the first of many acquisitions in the corporate collections arena that we plan to complete over the next few years."

Several more acquisitions of Commercial Collection Agencies are already in the works, some of which will be completed by the end of the year, Cooper said.

Johnson, Morgan & White's primary mission is to assist corporate clients in maximizing debt recovery through a proven combination of cutting-edge technology and traditional investigational expertise. Johnson, Morgan & White is a member of The American Cash Flow Association and the International Association of Commercial Collectors, Inc. For more information, call (800) 441-9550; e-mail info@jmandw.com; or visit www.imandw.com.

Johnson, Morgan & White

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