96638--3/13/2009--ADVANTA

related topics

{system, service, information}

{condition, economic, financial}

{regulation, change, law}

{product, market, service}

{financial, litigation, operation}

{tax, income, asset}

{capital, credit, financial}

{property, intellectual, protect}

{personnel, key, retain}

{stock, price, share}

{acquisition, growth, future}

{competitive, industry, competition}

{loss, insurance, financial}

The NASDAQ Stock Market LLC may cease to list our Class A voting common stock and Class B non-voting common stock, which may cause the value of an investment in us to substantially decrease. We may make changes in the terms of our business credit card accounts that could negatively affect our results of operations and profitability. Changes in our product offerings, including changes in product features or services, could negatively affect our ability to originate and retain customer relationships and may reduce our profitability. Legislative, regulatory and other legal developments may affect our business operations and ability to generate new accounts. We are subject to regulation by a number of different regulatory agencies and authorities, including bank regulatory authorities, which have broad discretion to take actions that could affect the manner in which we conduct our business, and could adversely affect our results of operations and our financial condition. Legal proceedings against us may result in adverse outcomes. If we do not maintain the security of our customers personal information, we could become subject to litigation, damage our reputation and negatively affect our business and business prospects. Changes in accounting may affect our reported earnings and results of operations. If third parties claim we infringe their intellectual property rights it could negatively impact our business and financial position. Changes in tax laws and outcomes of tax audits may affect our tax liabilities, tax assets and financial condition. We may be required to establish a valuation allowance against our deferred tax asset, which could negatively impact our financial condition and results of operations. Changes in interest rates and credit spreads may reduce our profitability. Social, economic, environmental and geographic factors can affect levels of customer spending, credit card payments and other customer behaviors, as well as our ability to predict customer behaviors, in ways that could negatively impact our asset quality and profitability. Market conditions and other factors beyond our control could negatively impact the availability and cost of funding for our operations. The occurrence of certain events could result in the early amortization of our outstanding business credit card securitization transactions. If we are unable to develop, introduce or offer new or competitive products and services, our ability to generate new accounts and compete effectively could be adversely affected. Our strategic, contractual and other relationships with third parties expose us to risks that may disrupt our business operations and adversely affect our results of operations and financial condition. We face intense competition in the credit card industry which could negatively impact our ability to generate new accounts and receivables. We may make investments in innovation, new lines of business, new business strategies and ideas that may disrupt our ongoing business and may not be successful. Our business and business prospects could be negatively impacted if our reputation is damaged. Loss of key personnel could adversely affect our business.

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96638--3/13/2009--ADVANTA_CORP