Pre-Paid Legal Services Hosts 2010 International Convention, April 8-10

    
    10th Year Event in Oklahoma Sets New Record in Associate Achievement





    
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<p>ADA, Okla., <span class="xn-chron">March 24</span> /CNW/ -- The 2010 International Convention of Pre-Paid Legal Services, Inc. (NYSE: PPD) in <span class="xn-location">Oklahoma City</span>, April 8-10, will mark the 10th year the company has hosted its annual gathering of associates in the capital city and this year's event will recognize the highest level of associate achievement and advancement in PPD's corporate history.</p>
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<p>During the three-day event, a record number of independent associates from throughout the U.S. and four provinces of <span class="xn-location">Canada</span> will be recognized for advancement and professional achievement.</p>
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<p>"I wouldn't say we're recession-proof, but the fact is we've got more new ring earners (associates who have earned six-figure incomes) than at any other event in our history," said <span class="xn-person">Harland Stonecipher</span>, who founded the company back in 1972 and who remains as Chairman of the Board today. "During tough economic times, there's more need for legal work and there's certainly more need for additional income. Those two factors bode well for us and have helped us this past year."</p>
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<p>The Pre-Paid Legal Services International Convention annually ranks as one of the largest events in <span class="xn-location">Oklahoma City</span>, according to Michael J. Carrier, president of the <span class="xn-location">Oklahoma City</span> Convention & Visitors Bureau (CVB). Over the past two years (2008 and 2009), the CVB estimates the PPD International Convention generated <span class="xn-money">$21.7 million</span> in direct spending in the City of <span class="xn-location">Oklahoma City</span>. For the 2010 PPD Convention, the CVB projects an estimated <span class="xn-money">$11.8 million</span> in direct spending in <span class="xn-location">Oklahoma City</span>.</p>
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<p>Approximately 12,000 PPD independent sales associates, along with hundreds of provider lawyers, are expected to attend the event at the Cox Convention Center, where they will hear presentations by a host of Oklahoma dignitaries and elected officials, including Governor <span class="xn-person">Brad Henry</span>, <span class="xn-person">Lt. Governor Jari Askins</span>, <span class="xn-location">Oklahoma City</span> <span class="xn-person">Mayor Mick Cornett</span>, Attorney General <span class="xn-person">Drew Edmondson</span> and Insurance Commissioner <span class="xn-person">Kim Holland</span>. The annual event also emphasizes training and development activities to help associates develop specific sales and recruitment skills.</p>
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<p>The 2010 Convention will be the first major PPD event to occur since <span class="xn-person">Chairman Stonecipher</span> announced his decision to resign the positions of President and CEO of Pre-Paid Legal Services, Inc. while maintaining his position as Chairman of the Board for the company. <span class="xn-person">Chairman Stonecipher</span> is scheduled to deliver the closing remarks at the convention, Saturday evening, <span class="xn-chron">April 10</span>.</p>
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<p>"It's appropriate in this landmark year for the International Convention that we should have such remarkable achievement by our associates," Stonecipher said. "As we prepare for the 2010 International Convention, here in Oklahoma, the home of Pre-Paid Legal Services, I've never been more confident in the direction of our company, the value of our products and the quality of our people."</p>
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<p>Commenting on the upcoming PPD event, CVB <span class="xn-person">President Carrier</span> said, "<span class="xn-location">Oklahoma City</span> is proud to once again be the host city for Pre-Paid Legal's International Convention. We appreciate the loyalty <span class="xn-person">Mr. Stonecipher</span> and his team have demonstrated for the State of Oklahoma, and it's an honor to welcome the associates and attendees back to <span class="xn-location">Oklahoma City</span> for the 10th consecutive year."</p>
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<p>Richard P. Rush, CCE, president and CEO, The State Chamber of Oklahoma, has also recognized PPD during its landmark convention. "Having served side-by-side with <span class="xn-person">Harland Stonecipher</span>, I can attest to the investment and corporate citizenship of Pre-Paid Legal in Oklahoma and I offer my congratulations on your 10th year International Convention in <span class="xn-location">Oklahoma City</span>," Rush said.</p>
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<p>Pre-Paid Legal has approximately 600 employees at its corporate headquarters in Ada and an additional 60 employees in Antlers and 100 employees in Duncan.</p>
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<p>About PPD -- We believe our products are one of a kind, life events legal service plans. Our plans provide for legal service benefits provided through a network of independent law firms across the U.S. and <span class="xn-location">Canada</span>, and include unlimited attorney consultation as well as will preparation, traffic violation defense, automobile-related criminal charges defense, letter writing, document preparation and review and a general trial defense benefit. We have an identity theft restoration product we think is also one of a kind because of the combination of outside vendors and our provider law firms. More information about us and our products can be found at our homepage at <a href="http://www.prepaidlegal.com">http://www.prepaidlegal.com</a>.</p>
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<p>Forward-Looking Statements -- Statements in this press release, other than purely historical information, regarding our future plans and objectives and expected operating results, dividends and share repurchases and statements of the assumptions underlying such statements, constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements contained herein are based on certain assumptions that may not be correct. They are subject to risks and uncertainties incident to our business that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are described in the reports and statements filed by us with the Securities and Exchange Commission, including (among others) those listed in our Form 10-K, Form 10-Q and Form 8-K, and include the risks that our membership persistency or renewal rates may decline, that we may not be able to continue to grow our memberships and earnings, that we are dependent on the continued active participation of our principal executive officer, that pending or future litigation may have a material adverse effect on us if resolved unfavorably to us, that we may have compromises of our information security, that consumer purchases of discretionary items may be impacted by a downturn in the economy, that we could be adversely affected by regulatory developments, that competition could adversely affect us, that we are substantially dependent on our marketing force, that our stock price may be affected by short sellers, that we have been unable to increase our employee group membership sales, that our active premium in force is not indicative of future revenue as a result of changes in active memberships from cancellations and additional membership sales and that we have repurchased more than half of our outstanding shares. Please refer to pages 16 through 19 of our 2009 Form 10-K for a more complete description of these risks. We undertake no duty to update any of the forward looking statements in this release.</p>
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For further information: George Snyder of Pre-Paid Legal Services, Inc., [phone], or cell, [phone], [email protected] Web Site: http://www.prepaidlegal.com