NextCard Letter - Accounts Closed

Dear NextCard® Cardholder:

This email contains IMPORTANT information about the status of your NextCard credit card account with NextBank®, N.A. ("NextBank").

PLEASE READ THIS ENTIRE EMAIL CAREFULLY.

NEXTBANK CLOSED

You are receiving this letter because you have a credit card issued by NextBank with a NextCard logo on the front. NextBank was closed by the Office of the Comptroller of the Currency on February 7,
2002. The Federal Deposit Insurance Corporation ("FDIC") was appointed Receiver and is responsible for administering the affairs of the failed NextBank.

As is customary in the credit card industry, the loans associated with NextCard credit card accounts were sold to third parties. The FDIC as Receiver for NextBank continues to be the servicer of your
account. Every effort was made by the FDIC to transfer the servicing of your account to another financial institution so that your credit card account can remain open. However, those attempts
have failed.

As a result, effective July 10, 2002, your NextCard credit card account is closed. You will no longer be able to use this credit card. If you attempt to use the card, merchants and ATMs will receive a message to decline the card. Please cut the card into pieces and dispose of the pieces. If you have any automatic charges (e.g., monthly, quarterly or otherwise periodic) paid directly with this card, please notify those billers or merchants immediately to cancel the automatic charges or switch them to
another credit card.

You are obligated to pay the outstanding balance in full. Interest will continue to accrue on your balance, and penalty fees will be assessed in the same manner as before. You may be contacted by the
third party that owns your loan with additional information regarding repayment.

THIS ACTION WILL NOT AFFECT YOUR CREDIT RATING

The leading credit-reporting agencies will be informed of this action, and your credit rating will not be harmed as a result of your credit card privileges being discontinued.

ADDITIONAL INFORMATION

You may continue to access your account information from http://fdic.nextbank.com:80/UM/T.asp?A7.99.440.1.4225150 as normal
for a limited amount of time. For additional information regarding the closing of NextCard accounts, please visit http://fdic.nextbank.com:80/UM/T.asp?A7.99.440.2.4225150 rather
than calling customer service. No additional information regarding the failure of NextBank or the closure of your NextCard credit card account will be available from customer service representatives.

We regret any inconvenience.

** Please do not reply to this email **

Sincerely,

FDIC AS RECEIVER FOR NEXTBANK