Advanta Corporation announced that Chairman and Chief Executive Officer Dennis Alter has given up his entire salary and annual bonuses for 2002 through 2004 in exchange for stock options. Mr. Alter will receive instead options on 1,500,000 Class B shares. The options were priced at market on the dates of grant and will vest incrementally over the next three years, beginning in late February 2003. Advanta is a highly focused financial services company which has been providing innovative financial solutions since 1951. Advanta leverages its first-class direct marketing and information based expertise to develop state-of-the-art data warehousing and statistical modeling tools that identify potential customers and new target markets. It has used these distinctive capabilities to become one of the nation’s largest issuers of MasterCard business credit cards to small businesses. Learn more about Advanta at [www.advanta.com].