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  <DIV align="center" style="font-size: 10pt; margin-top: 38pt; margin-left: 20%"><B>UNITED STATES<BR>
  SECURITIES AND EXCHANGE COMMISSION<BR>
  Washington, D.C. 20549</B>
  </DIV>
  
  
  <DIV align="center" style="font-size: 14pt; margin-top: 12pt; margin-left: 20%"><FONT face="arial"><B>FORM 144</B></FONT>
  
  </DIV>
  
  <DIV align="center" style="font-size: 12pt; margin-top: 12pt; margin-left: 20%"><B>NOTICE OF PROPOSED SALE OF SECURITIES<BR>
  PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933</B>
  
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      <TD nowrap align="left" style="font-size: 12pt"><B>ATTENTION:</B></TD>
      <TD>&nbsp;</TD>
      <TD valign="bottom"><I>Transmit for filing 3 copies of this form concurrently with either placing an order with
  a broker to execute sale or executing a sale directly with a market maker.</I></TD>
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                  <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-size: 7pt">
  1 <I>(a) </I>NAME OF ISSUER <I>(Please type or print)</I></FONT><BR><BR>
  Portfolio Recovery Associates Inc.
  </DIV></TD>
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      <TD align="left" valign="top" style="border-top: 1px solid #000000"><FONT style="font-size: 7pt"><I>(b) </I>IRS IDENT. NO.</FONT><BR><BR>
  75-3078675
  </TD>
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      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 1px solid #000000"><FONT style="font-size: 7pt"><I>(c) </I>S.E.C. FILE NO.</FONT><BR><BR>
  000-50058</TD>
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      <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" valign="top" align="center">OMB APPROVAL</TD>
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      <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
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      <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">OMB Number: <BR>
  Expires:
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="right" valign="top" nowrap>3235-0101<BR>
  December&nbsp;31, 2009</TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
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      <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" valign="top" align="left">Estimated average burden<BR>
  hours per response ................. &nbsp;&nbsp;&nbsp;2.00</TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
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  <TR style="font-size: 1px">
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      <TD valign="top" style="border-bottom: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
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      <TD valign="top" style="border-bottom: 1px solid #000000; border-top: 1px solid #000000" align="center"><DIV style="margin-left:0px; text-indent:-0px">SEC USE ONLY</DIV></TD>
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      <TD valign="top" style="border-bottom: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">DOCUMENT SEQUENCE NO.
  <BR>
  <BR>&nbsp;</DIV></TD>
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      <TD valign="top" style="border-bottom: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">CUSIP NUMBER<BR><BR>&nbsp;</DIV></TD>
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      <TD width="1%" style="border-left: 1px solid #000000; border-bottom: 1px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD valign="top" style="border-bottom: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">WORK LOCATION<BR><BR>&nbsp;</DIV></TD>
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                          <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">1 (<I>d</I>) ADDRESS OF ISSUER
  </DIV></TD>
      <TD style="border-right: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000">STREET
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000">CITY
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000">STATE
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap colspan="3" align="center" valign="top" style="border-top: 1px solid #000000">ZIP CODE
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;&nbsp;&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap colspan="6" align="left" valign="top" style="border-top: 1px solid #000000"><I>(e) </I>TELEPHONE NO.
  </TD>
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  <TR valign="bottom" style="font-size: 7pt">
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      <TD valign="top" style="border-top: 0px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
  </DIV></TD>
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      <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
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      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
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      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap colspan="2" align="left" valign="top" style="border-top: 1px solid #000000">AREA CODE
  </TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000">NUMBER</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD valign="top" style="border-top: 0px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Riverside Commerce Center
  </DIV></TD>
      <TD style="border-right: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 0px solid #000000">120 Corporate Boulevard, Suite&nbsp;100
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 0px solid #000000">Norfolk
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 0px solid #000000">VA
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 0px solid #000000">23502</TD>
      <TD nowrap valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD colspan="1" nowrap align="left" valign="top" style="border-top: 0px solid #000000">757&nbsp;</TD>
      <TD nowrap valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
  
      <TD nowrap valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 0px solid #000000">519-9300</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
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      <TD width="2%">&nbsp;</TD>
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                            <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:12px; text-indent:-12px">2 <I>(a) </I>NAME OF PERSON
  FOR WHOSE ACCOUNT THE
  SECURITIES ARE TO BE  SOLD<BR>&nbsp;
  </DIV></TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 1px solid #000000" nowrap><DIV style="margin-left:12px; text-indent:-12px">
  <I>(b) </I>RELATIONSHIP TO <BR>
  ISSUER</DIV>
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 1px solid #000000"><I>(c) </I>ADDRESS
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000">STREET
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000">CITY
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000">STATE
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap colspan="3" align="center" valign="top" style="border-top: 1px solid #000000">ZIP CODE
  </TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD valign="top" style="border-top: 0px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Steve Fredrickson
  </DIV></TD>
      <TD style="border-right: 1px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 0px solid #000000">CEO
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 0px solid #000000" nowrap>Riverside Commerce Ctr
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 0px solid #000000" nowrap>120 Corporate Blvd. ste.100
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 0px solid #000000">Norfolk
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 0px solid #000000">VA
  </TD>
      <TD style="border-right: 0px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
      <TD style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 0px solid #000000">23502</TD>
      <TD nowrap valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="26" style="border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><I>INSTRUCTION:
  The person filing this notice should contact the issuer to obtain the I.R.S. Identification Number and the S.E.C. File Number.</I>
  
  </DIV>
  <DIV align="center">
  <TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="1%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="23%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
  
      <TD width="1%">&nbsp;</TD>
  </TR><TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="30" style="border-bottom: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 6pt" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
  
      <TD nowrap align="left" style="border-bottom: 0px solid #000000">3 <I>(a)</I></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="left" style="border-bottom: 0px solid #000000"><I>(b)</I></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><Font  style="font-size: 8pt"><B>SEC USE ONLY</B></FONT></TD>
      <TD style="border-right: 1px solid #000000; border-bottom: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="left" colspan="3" style="border-bottom: 0px solid #000000"><I>(c)</I></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="left" colspan="3" style="border-bottom: 0px solid #000000"><I>(d)</I></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="left" colspan="3" style="border-bottom: 0px solid #000000"><I>(e)</I></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="left" colspan="1" style="border-bottom: 0px solid #000000"><I>(f)</I></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="left" colspan="1" style="border-bottom: 0px solid #000000"><I>(g)</I></TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 6pt" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
  
      <TD nowrap align="center"><B>Title of the</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>&nbsp;</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Number of Shares</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Aggregate</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Number of Shares</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Approximate</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Name of Each</B></TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 6pt" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
  
      <TD nowrap align="center"><B>Class of</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Name and Address of Each Broker Through Whom the</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Broker-Dealer</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>or Other Units</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Market</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>or Other Units</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Date of Sale</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Securities</B></TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 6pt" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
  
      <TD nowrap align="center"><B>Securities</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Securities are to be Offered or Each Market Maker</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 0px solid #000000"><B>File Number</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>To Be Sold</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Value</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Outstanding</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><I>(See instr. 3(f))</I></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Exchange</B></TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 6pt; padding-bottom: 4px" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
  
      <TD nowrap align="center"><B>To Be Sold</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 0px solid #000000"><B>who is Acquiring the Securities</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><I>(See instr. 3(c))</I></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><I>(See instr. 3(d))</I></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><I>(See instr. 3(e))</I></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">(MO.&nbsp;&nbsp;&nbsp;DAY&nbsp;&nbsp;&nbsp;YR.)</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="center">&nbsp;</TD>
      <TD nowrap align="center"><I>(See instr. 3(g))</I></TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom" style="font-size: 10pt">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
                            <TD valign="top" style="border-top: 1px solid #000000" align="center">
  <DIV style="margin-left:0px; text-indent:-0px">Common
  </DIV></TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000"><font style="FONT-size: 8pt">RBC Wealth Management<BR>
  2 Embarcadero Center, Suite&nbsp;1200<BR>
  San Francisco, CA 94111</FONT>
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">12,000</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">560,000</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">15,339,265</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000">08/03/09
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 1px solid #000000">NASDAQ</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR valign="bottom" style="font-size: 10pt">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
                            <TD valign="top" style="border-top: 1px solid #000000" align="center"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
  </DIV></TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000"><BR><BR>&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="30" style="border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  <DIV style="position: relative; float: left; width: 40%">
  
  
  
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 9pt">
  <TR>
      <TD width="3%"></TD>
      <TD width="1%"></TD>
      <TD width="96"></TD>
  </TR>
   <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD colspan="3"><B>INSTRUCTIONS:</B></TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">1.</TD>
      <TD>(a)&nbsp;&nbsp;</TD>
      <TD>Name of issuer</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(b)&nbsp;&nbsp;</TD>
      <TD>Issuer&#146;s I.R.S. Identification Number</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(c)&nbsp;&nbsp;</TD>
      <TD>Issuer&#146;s S.E.C. file number, if any</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(d)&nbsp;&nbsp;</TD>
      <TD>Issuer&#146;s address, including zip code</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(e)&nbsp;&nbsp;</TD>
      <TD>Issuer&#146;s telephone number, including area code</TD>
  </TR>
  
  <TR style="font-size: 12pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>2.</TD>
      <TD>(a)&nbsp;&nbsp;</TD>
      <TD>Name of person for whose account the securities are to be sold</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(b)&nbsp;&nbsp;</TD>
      <TD>Such person&#146;s relationship to the issuer (e.g., officer, director, 10% stockholder, or member of
  immediate family of any of the foregoing)</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(c)&nbsp;&nbsp;</TD>
      <TD>Such person&#146;s address, including zip code</TD>
  </TR>
  
  </TABLE>
  
  
  </DIV>
  <DIV style="position: relative; float: right; width: 55%">
  
  
  
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt">
  <TR>
      <TD width="3%"></TD>
      <TD width="1%"></TD>
      <TD width="96"></TD>
  </TR>
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">3.</TD>
      <TD>(a)&nbsp;&nbsp;</TD>
      <TD>Title of the class of securities to be sold</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(b)&nbsp;&nbsp;</TD>
      <TD>Name and address of each broker through whom the securities are intended to be sold</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(c)&nbsp;&nbsp;</TD>
      <TD>Number of shares or other units to be sold (if debt securities, give the aggregate face amount)</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(d)&nbsp;&nbsp;</TD>
      <TD>Aggregate market value of the securities to be sold as of a specified date within 10&nbsp;days prior to the filing of this notice</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(e)&nbsp;&nbsp;</TD>
      <TD>Number of shares or other units of the class outstanding, or if debt securities the face amount thereof outstanding, as
  shown by the most recent report or statement published by the issuer</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(f)&nbsp;&nbsp;</TD>
      <TD>Approximate date on which the securities are to be sold</TD>
  </TR>
  
  <TR style="font-size: 2pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD>&nbsp;</TD>
      <TD>(g)&nbsp;&nbsp;</TD>
      <TD>Name of each securities exchange, if any, on which the securities are intended to be sold</TD>
  </TR>
  
  </TABLE>
  
  
  </DIV>
  <BR clear="all">
  
  <DIV align="left" style="font-size: 9pt; margin-top: 3pt; margin-left: 30%"><B>Potential persons who are to respond to the collection of information
  contained in this form are not <BR>required to respond unless the form displays a currently valid OMB control number.</B>
  
  </DIV>
  
  <DIV align="right" style="font-size: 8pt; margin-top: 3pt">SEC 1147 (08-07)
  </DIV>
  
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
  </DIV>
  
  
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <!-- landscape -->
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TABLE I &#150; SECURITIES TO BE SOLD</B>
  </DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 3pt"><I>Furnish the following information with respect to the acquisition of the securities to be sold<BR>
  and with respect to the payment of all or any part of the purchase price or other consideration
  therefor:</I>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom" style="font-size: 1pt">
      <TD width="1%">&nbsp;</TD>
      <TD width="8%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="25%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="9%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="1" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
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      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  
  <TR style="font-size: 8pt" valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="CENTER">Title of</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Date you </TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Name of Person from Whom Acquired</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Amount of</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Date of</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="center">the Class</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Acquired</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Nature of Acquisition Transaction</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2"><I>(If gift, also give date donor acquired)</I></TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Securities Acquired</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Payment</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Nature of Payment</TD>
      <TD>&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR style="font-size: 1px">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="1" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
      <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">Common</DIV></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center">08/03/09</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="3" align="center">Acquisition of Shares via Exercise of Stock Options</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="3" align="center">Portfolio Recovery Associates, Inc.</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="2" align="center">12,000</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="2" align="center">08/03/09</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="3" align="center">Cash</TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
      <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
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      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
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      <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
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      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px">
      <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="1" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <DIV align="left" style="margin-top: 0pt">
  <TABLE width="50%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt; background: transparent; color: #000000">
  <TR style="font-size: 1pt">
      <TD width="3%"></TD>
      <TD width="1%"></TD>
      <TD></TD>
  </TR>
  <TR valign="top">
      <TD nowrap align="left"><B>INSTRUCTIONS:</B></TD>
      <TD>&nbsp;</TD>
      <TD><DIV align="justify">If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a
  note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in
  installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.</DIV></TD>
  </TR>
  </TABLE>
  </DIV>
  
  <DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>TABLE II &#150; SECURITIES SOLD DURING THE PAST 3 MONTHS</B>
  </DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 3pt"><I>Furnish the following information as to all securities of the issuer sold during the past 3&nbsp;months
  by the person for whose account the securities are to be sold.</I>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom" style="font-size: 1pt">
      <TD width="1%">&nbsp;</TD>
      <TD width="30%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="20%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="9%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="9%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="1" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Amount of</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="center">Name and Address of Seller</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Title of Securities Sold</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Date of Sale</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Securities Sold</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="2">Gross Proceeds</TD>
      <TD>&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR style="font-size: 1px">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="1" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
      <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
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  </DIV>
  
  <DIV align="left" style="font-size: 8pt; margin-top: 6pt"><B>REMARKS:</B>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="49%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
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  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>INSTRUCTIONS:</B>
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top"><B>ATTENTION:</B></TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top" style="font-size: 8pt"><DIV style="margin-left:0px; text-indent:-0px">See the definition of &#147;person&#148; in paragraph (a)&nbsp;of Rule&nbsp;144. Information is to be given not only as to the person for whose account
  the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given
  as to sales by all persons whose sales are required by paragraph (e)&nbsp;of Rule&nbsp;144 to be aggregated with sales for the account of the
  person filing this notice.
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top" style="font-size: 8pt"><I>The person for whose account the securities to which this
  notice relates are to be sold hereby represents by signing
  this notice that he does not know any material adverse
  information in regard to the current and prospective
  operations of the Issuer of the securities to be sold which
  has not been publicly disclosed. If each person has adopted a
  written trading plan or given trading instructions to satisfy
  Rule&nbsp;10b5-1 under the Exchange Act, by signing the form and
  indicating the date that the plan was adopted or the
  instruction given, that person makes such representation as of
  the plan adoption or instruction date.</I></TD>
  </TR>
  <!-- End Table Body -->
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  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
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  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD>&nbsp;</TD>
      <TD align="center"><B>08/03/09</B>
  </TD>
      <TD align="left"><B>.</B>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><B>/S/ Steven D. Fredrickson</B></TD>
      <TD align="left"><B>.</B>&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px">
      <TD>&nbsp;</TD>
      <TD align="center" style="border-top: 1px solid #000000">&nbsp;
  </TD>
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      <TD colspan="1" align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
  
  </TR>
  <TR valign="bottom">
      <TD>&nbsp;</TD>
      <TD align="center" style="font-size: 8pt">DATE OF NOTICE</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top" style="font-size: 8pt">(SIGNATURE)</TD>
      <TD>&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom" style="font-size: 1pt">
      <TD width="9%">&nbsp;</TD>
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      <TD width="1%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD>&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 0px solid #000000">&nbsp;
  </TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD rowspan="2" align="center" valign="top"><I>The notice shall be signed by the person for whose account the securities are to be sold. At least one
  copy of the notice shall be manually signed. Any copies not manually signed shall bear typed or printed signatures.</I></TD>
      <TD>&nbsp;</TD>
  </TR>
  
  <TR valign="bottom">
      <TD>&nbsp;</TD>
      <TD align="center" valign="top" style="border-top: 1px solid #000000; font-size: 8pt">DATE
  OF PLAN ADOPTION OR GIVING OF INSTRUCTION,<BR>
  IF RELYING ON RULE 10B5-1
  </TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <P>
  <DIV style="width: 100%; border: 1px solid black; padding: 3px">
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 0pt"><B>ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)</B>
  </DIV>
  
  </DIV>
  
  <DIV align="right" style="font-size: 10pt; margin-top: 11pt">SEC 1147 (04-07)
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
  </DIV>
  
  
  
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  </HTML>
metadata_documents: [{"type": "144", "sequence": "1", "filename": "w75158be144.htm", "description": "FORM 144", "secsgml_size_bytes": 73489}]
text: FORM 144
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM 144
  NOTICE OF PROPOSED SALE OF SECURITIES
  PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
  ATTENTION:
  Transmit for filing 3 copies of this form concurrently with either placing an order with
  a broker to execute sale or executing a sale directly with a market maker.
  1
  (a)
  NAME OF ISSUER
  (Please type or print)
  Portfolio Recovery Associates Inc.
  (b)
  IRS IDENT. NO.
  75-3078675
  (c)
  S.E.C. FILE NO.
  000-50058
  OMB APPROVAL
  OMB Number:
  Expires:
  3235-0101
  December 31, 2009
  Estimated average burden
  hours per response .................    2.00
  SEC USE ONLY
  DOCUMENT SEQUENCE NO.
  CUSIP NUMBER
  WORK LOCATION
  1 (
  d
  ) ADDRESS OF ISSUER
  STREET
  CITY
  STATE
  ZIP CODE
  (e)
  TELEPHONE NO.
  AREA CODE
  NUMBER
  Riverside Commerce Center
  120 Corporate Boulevard, Suite 100
  Norfolk
  VA
  23502
  757
  519-9300
  2
  (a)
  NAME OF PERSON
  FOR WHOSE ACCOUNT THE
  SECURITIES ARE TO BE  SOLD
  (b)
  RELATIONSHIP TO
  ISSUER
  (c)
  ADDRESS
  STREET
  CITY
  STATE
  ZIP CODE
  Steve Fredrickson
  CEO
  Riverside Commerce Ctr
  120 Corporate Blvd. ste.100
  Norfolk
  VA
  23502
  INSTRUCTION:
  The person filing this notice should contact the issuer to obtain the I.R.S. Identification Number and the S.E.C. File Number.
  3
  (a)
  (b)
  SEC USE ONLY
  (c)
  (d)
  (e)
  (f)
  (g)
  Title of the
  Number of Shares
  Aggregate
  Number of Shares
  Approximate
  Name of Each
  Class of
  Name and Address of Each Broker Through Whom the
  Broker-Dealer
  or Other Units
  Market
  or Other Units
  Date of Sale
  Securities
  Securities
  Securities are to be Offered or Each Market Maker
  File Number
  To Be Sold
  Value
  Outstanding
  (See instr. 3(f))
  Exchange
  To Be Sold
  who is Acquiring the Securities
  (See instr. 3(c))
  (See instr. 3(d))
  (See instr. 3(e))
  (MO.   DAY   YR.)
  (See instr. 3(g))
  Common
  RBC Wealth Management
  2 Embarcadero Center, Suite 1200
  San Francisco, CA 94111
  12,000
  $
  560,000
  15,339,265
  08/03/09
  NASDAQ
  INSTRUCTIONS:
  1.
  (a)
  Name of issuer
  (b)
  Issuer's I.R.S. Identification Number
  (c)
  Issuer's S.E.C. file number, if any
  (d)
  Issuer's address, including zip code
  (e)
  Issuer's telephone number, including area code
  2.
  (a)
  Name of person for whose account the securities are to be sold
  (b)
  Such person's relationship to the issuer (e.g., officer, director, 10% stockholder, or member of
  immediate family of any of the foregoing)
  (c)
  Such person's address, including zip code
  3.
  (a)
  Title of the class of securities to be sold
  (b)
  Name and address of each broker through whom the securities are intended to be sold
  (c)
  Number of shares or other units to be sold (if debt securities, give the aggregate face amount)
  (d)
  Aggregate market value of the securities to be sold as of a specified date within 10 days prior to the filing of this notice
  (e)
  Number of shares or other units of the class outstanding, or if debt securities the face amount thereof outstanding, as
  shown by the most recent report or statement published by the issuer
  (f)
  Approximate date on which the securities are to be sold
  (g)
  Name of each securities exchange, if any, on which the securities are intended to be sold
  Potential persons who are to respond to the collection of information
  contained in this form are not
  required to respond unless the form displays a currently valid OMB control number.
  SEC 1147 (08-07)
  TABLE I – SECURITIES TO BE SOLD
  Furnish the following information with respect to the acquisition of the securities to be sold
  and with respect to the payment of all or any part of the purchase price or other consideration
  therefor:
  Title of
  Date you
  Name of Person from Whom Acquired
  Amount of
  Date of
  the Class
  Acquired
  Nature of Acquisition Transaction
  (If gift, also give date donor acquired)
  Securities Acquired
  Payment
  Nature of Payment
  Common
  08/03/09
  Acquisition of Shares via Exercise of Stock Options
  Portfolio Recovery Associates, Inc.
  12,000
  08/03/09
  Cash
  INSTRUCTIONS:
  If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a
  note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in
  installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.
  TABLE II – SECURITIES SOLD DURING THE PAST 3 MONTHS
  Furnish the following information as to all securities of the issuer sold during the past 3 months
  by the person for whose account the securities are to be sold.
  Amount of
  Name and Address of Seller
  Title of Securities Sold
  Date of Sale
  Securities Sold
  Gross Proceeds
  REMARKS:
  INSTRUCTIONS:
  ATTENTION:
  See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account
  the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given
  as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the
  person filing this notice.
  The person for whose account the securities to which this
  notice relates are to be sold hereby represents by signing
  this notice that he does not know any material adverse
  information in regard to the current and prospective
  operations of the Issuer of the securities to be sold which
  has not been publicly disclosed. If each person has adopted a
  written trading plan or given trading instructions to satisfy
  Rule 10b5-1 under the Exchange Act, by signing the form and
  indicating the date that the plan was adopted or the
  instruction given, that person makes such representation as of
  the plan adoption or instruction date.
  08/03/09
  .
  /S/ Steven D. Fredrickson
  .
  DATE OF NOTICE
  (SIGNATURE)
  The notice shall be signed by the person for whose account the securities are to be sold. At least one
  copy of the notice shall be manually signed. Any copies not manually signed shall bear typed or printed signatures.
  DATE
  OF PLAN ADOPTION OR GIVING OF INSTRUCTION,
  IF RELYING ON RULE 10B5-1
  ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)
  SEC 1147 (04-07)