Exhibit 99.1

FOR IMMEDIATE RELEASE

     
Contacts:
   
William S. McCalmont 972/753-2314
  Michael J. Briskey 972/753-2342
Executive Vice President & CFO
  Senior Vice President & Treasurer
wmccalmont@acecashexpress.com
  mbriskey@acecashexpress.com

ACE CASH EXPRESS REPORTS RECORD FISCAL 2004 RESULTS
PROVIDES FISCAL 2005 GUIDANCE

     DALLAS (August 26, 2004)—ACE Cash Express, Inc. (NASDAQ:AACE) announced fiscal 2004 net income of $17.1 million or $1.49 per diluted share compared to fiscal 2003 net income of $12.8 million or $1.25 per diluted share, an increase of 33.5 percent and 18.7 percent, respectively. Fiscal 2004 results included a one-time charge of $0.25 per diluted share, related to the early extinguishment of debt from the Company’s successful secondary offering of common stock in April 2004. Excluding this charge, ACE’s fiscal 2004 earnings per diluted share increased 39.0 percent to $1.74, from fiscal 2003 earnings per diluted share of $1.25. During fiscal 2004, ACE’s total revenue increased 5.3 percent to $246.7 million compared to $234.3 million in the prior year, due primarily to a 4.1 percent increase in check cashing fees, an 8.8 percent increase in loan fees and interest, and a 25.6 percent increase in bill payment services.

     “During fiscal 2004, our continued focus on our operational goals drove efficiency gains and strong financial performance. We were also successful on several initiatives including the resumption of our store growth strategy, the opening of eleven ACE Cash Advance stores, and the testing of several new marketing programs,” said Jay B. Shipowitz, President and Chief Executive Officer. “In addition, we were able to substantially improve our balance sheet with the

 


The following information was filed by Ace Cash Express Inctx on Friday, August 27, 2004 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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