Metris Companies Inc. announced it has notified the Trustee of its unsecured 10 1/8% senior notes, which are due July 2006, that Metris intends to make an optional principal prepayment of $30 million. The payment is expected to be made on Friday, July 15, 2005. The remaining principal outstanding on the original unsecured senior notes will be $49.1 million as a result of this prepayment.
Metris Companies Inc., based in Minnetonka, Minn., is one of the largest bankcard issuers in the United States. The company issues credit cards through Direct Merchants Credit Card Bank, N.A., a wholly owned subsidiary headquartered in Phoenix, Ariz. For more information, visit [www.metriscompanies.com] or [www.directmerchantsbank.com].