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<P><FONT face=Arial size=2>Exchange and Symbol: OTCBB: RCVA</FONT></P>
<P><FONT face=Arial size=2>Shares outstanding: 17,808,917</FONT></P>
<P><FONT face=Arial size=2>Float (Approximate): 2,266,664</FONT></P>
<P><FONT face=Arial size=2>Market Cap: 4,274,140</FONT></P>
<P><FONT face=Arial size=2>Recent bid price: 0.24</FONT></P>
<P><FONT face=Arial size=2>2 Week Target Price: 0.92</FONT></P>
<P><FONT face=Arial size=2>2 Month Target Price: 2.50</FONT></P>
<P><FONT face=Arial size=2>Industry: Cr edit Services</FONT></P>
<P><FONT size=2><FONT face=Arial>Web site: <A
href="http://www.ramcoglobal.com"><FONT
color=#000000>http://www.ramcoglobal.com</FONT></A></P></FONT></FONT>
<P><FONT face=Arial></FONT> </P>
<P><FONT size=2><FONT face=Arial>Receivable Acquisition & Management
Corp.
(OTCBB: RCVA) is in the business of acquiring and collecting portfolios of
performing, sub-performing and nonperforming consumer receivables. These
portfolios generally consist of one or more of the following types of
consumer
receivables:</FONT></FONT></P>
<P><FONT face=Arial size=2>charged-off receivables -- accounts that have
been
written-off by the originators and may have been</FONT></P>
<P><FONT face=Arial size=2>previously serviced by collection
agencies;</FONT></P>
<P><FONT face=Arial size=2>freshly charged-off accounts that have not been
assigned for collection;</FONT></P>
<P><FONT face=Arial size=2>sub-performing receivables -- accounts where
the
debtor is currently making partial or irregular</FONT></P>
<P><FONT face=Arial size=2>monthly payments, but the accounts may have
been
written-off by the originators; and</FONT></P>
<P><FONT face=Arial size=2>performing receivables . accounts where the deb
tor
is making regular payments or pays upon normal and customary
procedures.</FONT></P>
<P><FONT face=Arial size=2>The Company acquires non-performing and
sub-performing consumer and commercial receivable</FONT></P>
<P><FONT face=Arial size=2>portfolios at a significant discount to the
amount
actually owed by the deb tors or insurers. RCVA acquires these portfolios
after
a qualitative and quantitative analysis of the underlying receivables and
establish a purchase price based on expected recovery and internal rate of
return hurdle. After purchasing a portfolio, RCVA outsources collections
to
carefully selected collection agencies and RCVA actively monitors their
performance and reviews and adjusts collection and servicing strategies
accordingly.</FONT><FONT face=Arial size=2>RCVA with a recent share price
of
0.24 Bid may have a superior business model than its competitors. Here.s
why:
</FONT></P>
<P><FONT face=Arial size=2>* RCVA is focused on becoming a dominant player
in
two of the industry.s hottest and best-performing sectors: student loans
and
medical services; rather than compete in the high-priced consumer credit
card
portfolio sector, where pricing structures have soared from 4 cents to 11
cents
on the dollar in recent years.</FONT></P>
<P><FONT face=Arial size=2>* RCVA, with a new Joint Venture with a
multi-bil
dollar fund, will be able to scale up its purchases and compete for larger
transactions requiring 5 mil to 25 mil in inves tment. </FONT></P>
<P><FONT face=Arial size=2></FONT><BR><FONT face=Arial size=2>* RCVA is
generating increasing finance income for the quarter ending March 31,
2006, up
22 percent from the same quarter in 2005. Its general income for the
quarter is 170,749, up from 120,245 in the previous quarter, and 115,200
for the
same quarter in 2005. With Portfolio.s held as of 3/31/06 RCVA estimates
remaining collections of 2,013,000.</FONT></P>
<P><FONT face=Arial size=2>* RCVA.s partnership with a major alternative
student
loan provider to acquire alternative loans below FICO of 650. Projected
first
year volume of 30 Mil. First sale expected in third</FONT><FONT
face=Arial
size=2><SUP> </SUP>Qtr of 2006.</FONT></P>
<P><FONT face=Arial size=2>* RCVA partnership with Meridian Healthcare
Finance
providing cross marketing and lending in healthcare receivables. Lending
to
small and midsize healthcare companies, purchase of wharehoused personal
injury
& workers comp receivables.</FONT></P>
<P><FONT face=Arial size=2>* RCVA has sufficient cash flow to meet its
operating
expenses, acquire portfolios and rapidly grow.</FONT></P>
<P><FONT face=Arial size=2>* Excl usive mar keting agreement with
California
Credit Union League for purchase of charge-offs and other types of loans.
The
agreement covers 200 credit unions in California and Nevada. Expected
annual
purchases are 50 Mil.Comparable companies: </FONT></P>
<P><FONT face=Arial size=2>-- Encore Capital Group CInc. (ECPG) was around
0.50
in January 2002 and its recent share price, even after splits, is 12.22
</FONT></P>
<P><FONT face=Arial size=2>-- Portfolio Recovery Associates Inc. (PRAA)
recent
price 44.91 </FONT></P>
<P><FONT face=Arial size=2>-- ASTA Funding Group (ASFI) recent price 36.91
</FONT></P>
<P><FONT face=Arial size=2>-- NCO Group Inc. (NCOG) recent price 25.73
</FONT></P>
<P><FONT face=Arial size=2>-- Asset Acceptance Capital Corp. (AACC) recent
price
19.75 Inves tment summation</FONT></P>
<P><FONT face=Arial size=2>Over the past three years RCVA has built the
infrastructure and partnerships to identify and locate strategic charged
off de
bt portfolios and has secured the inves tment capital to make such
acquisitions.
This company will experience significant gr ow th over the next few
years.<BR></FONT></P>
<P><FONT face=Arial size=2><FONT size=1>The information contained herein
is not
guaranteed to be accurate, and should not be considered to be
all-inclusive. The
companies that are discussed in this opinion have not approved the
statements
made in this opinion. This opinion contains forward-looking statements
that
involve risks and uncertainties. This material is for informational
purposes
only and should not be construed as an offer or solicitation of an offer
to buy
or sell securities. We are not a licensed broker, broker dealer,
market maker, inves tment banker, inves tment advisor, analyst or
underwriter.
Please consult a broker before purchasing or selling any securities
mentioned
herein. We will be compensated by a 3rd party, who also
intends
to sell shares into the market; for the preparation and dissemination of
this
opinion. We have been compensated 2500.00 USD to date. Our
affiliates,
officers, directors and employees may also have bought or may buy the
shares
discussed in this opinion and may profit in the event those shares rise in
value. We will not advise as to when it decides to sell and does not
and
will not offer any opinion as to when others should sell; each inve stor
must
make that decision based on his or her judgment of the
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