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THE CREDIT STORE, INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Predecessor The Credit Store, Inc.
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Year Six Months
Ended January 1, 1996 Year Ended May 31, Ended
December 31, October 8, -------------------------------------------------- November 30,
1995 1996 1997 1998 1999 2000 2000
------------ --------------- ------------ ------------ --------- --------- ------------
Income before taxes 2,727,711 (1,932,768) (14,405,555) (29,445,031) 1,889,271 2,029,820 (4,474,205)
Less:
Equity interest in income 10,306 277,159 325,183 (332,760) (74,745)
(loss) from investees
Plus:
Distribution from
investees -- -- -- -- 112,911
Fixed Charges -- -- 984,370 5,213,168 4,469,218 5,513,622 1,743,154
--------- ---------- ----------- ----------- --------- --------- ----------
Total Earnings 2,727,711 (1,932,768) (13,431,491) (24,509,022) 6,033,306 7,876,202 (2,543,395)
Fixed Charges:
Interest expense -- -- 751,729 4,760,905 4,029,491 4,981,949 1,424,721
Approximation of interest
in rental expense -- -- 232,641 452,263 439,727 531,673 318,433
--------- ----------- ----------- ----------- --------- --------- ----------
Total Fixed Charges -- -- 984,370 5,213,168 4,469,218 5,513,622 1,743,154
Ratio of earnings to fixed charges N/A N/A -- -- 1.4x 1.4x --
Deficiency of earnings to fixed
charges (12,447,120) (19,295,853) (800,241)