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Bernie & Phyl’s Furniture Selects Household For Private Label Credit Program

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Household International, Inc., a wholly owned subsidiary of HSBC North America Holdings Inc., announced that its retail services business has signed an agreement to manage the private label credit card program for Bernie & Phyl’s Furniture, the largest privately owned furniture retailer in Massachusetts. Bernie & Phyl’s credit cardholders will be able to purchase brand name furniture and accessories for their entire home. In addition to receiving opportunities for special financing, cardholders will also receive exclusive money-saving offers. Value added features include online account management and free bill payment. “We look forward to partnering with Bernie & Phyl’s to provide targeted solutions to help drive sales and incremental revenue growth,” said Richard Klesse, national director of business development and client relations for Household’s retail services business. “Our expertise in the furniture industry gives us an edge in helping our partners understand customer behavior and trends, and helping them act on that customer insight to increase sales.” “Household’s flexibility with a variety of credit promotions, instant credit decisioning for both small and large ticket items, and account management and reporting capabilities will not only help us serve our customers more efficiently but also enable us to focus on what we do best — selling furniture,” said Larry Rubin, chief operating officer at Bernie & Phyl’s Furniture. About Bernie & Phyl’s Furniture: Bernie & Phyl’s Furniture was started by the Rubin family in 1983 and has since grown from a small storefront into the largest independent furniture retailer in Massachusetts. Based in Norton, Mass., the company has five Massachusetts stores in Everett, Raynham (55,000 s/f superstore), Saugus (50,000 s/f superstore), Westboro (50,000 s/f superstore), and Weymouth, and one store in Nashua, New Hampshire (86,000 s/f superstore). Bernie & Phyl’s Furniture is among the top 100 furniture stores in the Unites States, according to Furniture/Today magazine. The company was named the 2002 Retailer of the Year by the National Home Furnishings Association. About Household International, Inc.: Household International, Inc., based in Prospect Heights, Ill., is a wholly owned subsidiary of HSBC North America Holdings Inc., one of the top 10 financial services holding companies in the United States. HSBC North America Holdings Inc is a wholly owned subsidiary of HSBC Holdings plc (NYSE: HBC), one of the largest banking and financial services organizations in the world. Household's businesses are leading providers of consumer loans, credit cards, auto finance and credit insurance products in the United States, United Kingdom and Canada. In the United States, Household companies operate under the two oldest and most recognized names in consumer finance - HFC and Beneficial. Additionally, Household's businesses are some of the nation's largest issuers of private label and general-purpose credit cards, including The GM Card® and the AFL-CIO's Union Plus® card. For more information, visit www.household.com.

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