Karum Group LLC, Named Credit Services Provider for Lowe’s Mexico

Lowe’s entering Mexico with a variety of flexible credit options to customers, contractors and businesses

February 2010 - Karum Group LLC, a global credit management services company, has been selected as the credit services provider for Lowe's Mexico, a subsidiary of Lowe’s Companies, Inc. (NYSE: LOW)  in Mexico. Karum provides Lowe’s Mexico, as it does for other leading retailers such as Sears, LOB, Terra Mundo and Devlyn Opticos, with a seamless, one-stop solution to manage all its private label credit services including processing applications, activating accounts, billing, targeted marketing and collection services.

“We have a tradition of helping retailers maximize revenue and profit opportunities while minimizing cost by thoughtfully applying technology to their operations,” said Peter R. Johnson, Chairman and CEO of Karum Group LLC. “Karum’s evolution from a pure software company to a software-as-a-service (SaaS) model allows it to provide tailored and scalable solutions.”

Karum provides tailored credit programs that leverage its own credit management system. Karum’s has managed or is currently managing more than 15 million accounts for its clients in the United States, Canada, Mexico and other countries. Lowe’s Mexico is offering to the consumer and commercial markets:

Lowe’s Consumer Credit Cards

With a pair of credit card options, each offer an easy way to pay for everyday purchases for those who have qualified for or who have established credit. These revolving and installment cards give Lowe’s customers extended buying power for all their home improvement needs and will have special promotional offers throughout the year.

Lowe’s Commercial Account Credit Card

This is a revolving credit card for commercial customers and is ideal for medium to large-sized businesses that pay in full each month.  As part of this account, it includes an easy-to-understand itemized statement with product level detail on invoicing, purchasing control with a list of authorized buyers (or ability to issue multiple cards), ability to limit peso amount of a single purchase and payment by invoice.

In addition to providing the technical infrastructure, Karum is providing portfolio management services, financing for the portfolio and assuming the responsibility for risk, compliance and portfolio performance.

About Karum                           
Karum provides integrated and cost effective solutions enabling retailers to drive increased revenues and gross margin ROI by offering private label consumer credit services to its customers.
Karum’s customers see private label credit card holders purchasing significantly more than the average customer. Karum offers a turnkey suite of credit management solutions including transaction processing, outsourced credit center capabilities, collection, portfolio management and consulting.
In contrast to banks or traditional transaction processors, Karum’s retail DNA enables us to offer flexible and cost effective solutions that drive greater profitability.

About Lowe’s
With fiscal year 2009 sales of $47.2 billion, Lowe’s Companies, Inc. is a FORTUNE® 50 company that serves approximately 15 million customers a week at more than 1,700 home improvement stores in the United States, Canada and Mexico. Founded in 1946 and based in Mooresville, N.C., Lowe’s is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.