Pre-Paid Legal Announces Completion of $10 Million Financing



    ADA, Okla., June 6 /CNW/ -- Pre-Paid Legal Services, Inc. (NYSE:   PPD)
announced that we have received additional financing from Bank of Oklahoma for
$10 million on an unsecured basis repayable in 12 equal monthly payments
beginning June 30, 2008, together with interest at LIBOR plus 165 basis
points.  The $10 million has been funded and is immediately available to the
Company and is in addition to existing debt of approximately $65 million.
    We will use proceeds from the new financing to fund additional treasury
stock purchases as we currently have Board authorization to purchase
approximately 798,000 additional treasury shares.  Since April 1999, the
Company has purchased 13.2 million shares, totaling $385.3 million, or an
average cost per share of $29.18 per share.  As a result of this aggressive
treasury stock purchase program, the Company has reduced shares outstanding by
approximately 50% during this time.
    
    About Pre-Paid Legal Services
    
    We believe our products are one of a kind, life events legal service
plans.  Our plans provide for legal service benefits provided through a
network of more than 50 independent law firms across the U.S. and Canada, and
include unlimited attorney consultation, will preparation, traffic violation
defense, automobile-related criminal charges defense, letter writing, document
preparation and review and a general trial defense benefit.  We have an
identity theft restoration product we think is also one of a kind due to the
combination of our identity theft restoration partner and our provider law
firms.  More information about us and our products can be found at our
homepage at http://www.prepaidlegal.com.
    
    Forward-Looking Statements
    
    Statements in this press release, other than purely historical
information, regarding our future plans and objectives and expected operating
results, dividends and share repurchases and statements of the assumptions
underlying such statements, constitute forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934.  The forward-
looking statements contained herein are based on certain assumptions that may
not be correct.  They are subject to risks and uncertainties incident to our
business that could cause actual results to differ materially from those
described in the forward-looking statements.  These risks and uncertainties
are described in the reports and statements filed by us with the Securities
and Exchange Commission, including (among others) those listed in our Form 10-
K, Form 10-Q and Form 8-K, and include the risks that our membership
persistency or renewal rates may decline, that we may not be able to continue
to grow our memberships and earnings, that we are dependent on the continued
active participation of our principal executive officer, that pending or
future litigation may have a material adverse effect on us if resolved
unfavorably to us, that we could be adversely affected by regulatory
developments, that competition could adversely affect us, that we are
substantially dependent on our marketing force, that our stock price may be
affected by short sellers, that we have been unable to increase our employee
group membership sales and that our active premium in force is not indicative
of future revenue as a result of changes in active memberships from
cancellations and additional membership sales.  Please refer to pages 14 and
15 of our 2007 Form 10-K and pages 7 and 8 of our March 31, 2008 Form 10-Q for
a more complete description of these risks.  We undertake no duty to update
any of the forward-looking statements in this release.




For further information:

For further information: Steve Williamson of Pre-Paid Legal Services, 
Inc., +1-580-436-1234 Web Site: http://www.prepaidlegal.com

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PRE-PAID LEGAL SERVICES, INC.

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