World Acceptance Corporation (WRLD)

[MWM]

Since 1996, the Company has repurchased approximately 15.9 million shares for an aggregate purchase price of approximately $665.3 million. As of December 31, 2013 our debt outstanding was $583.3 million and our shareholders' equity was $328.6 million , resulting in a debt-to-equity ratio of 1.8:1. Our first priority is to ensure we have enough capital to fund loan growth. To the extent we have excess capital we intend to continue repurchasing stock, as authorized by our Board of Directors, which is consistent with our past practice. We will continue to monitor our debt-to-equity ratio and are committed to maintaining a debt level that will allow us to continue to execute our business objectives, while not putting undue stress on our balance sheet.