FOR IMMEDIATE RELEASE

                         OSI'S CEO ANNOUNCES RETIREMENT
            Company Names Interim Chief, Builds on Strong Foundation
                            to Renew Focus on Clients

     ST.  LOUIS,  September 6,  2002---Today  OSI,  one of the nation's  leading
strategic receivables management  outsourcing companies,  announced that Timothy
Beffa is retiring as the company's president and chief executive officer.  Chief
financial  officer  Gary Weller has been named  interim  president  and CEO. The
change is effective immediately.
     "I am proud of OSI's  accomplishments over the last six years," said Beffa,
who joined OSI in 1996 and will remain a part-time  consultant  to the privately
held company. "We have successfully transformed the company from a collection of
seven acquired,  national and regional companies into a fully integrated firm in
a short period of time. I now eagerly anticipate retirement,  knowing fully that
Gary will build on the best  practices we have put in place and take the company
to its next growth  phase-focusing  OSI's efforts  singularly  and diligently on
client service and satisfaction."
     Weller, who will maintain his  responsibilities as CFO, is grateful for the
support and looks  forward to getting  started.  "Tim has served as a leader and
role model to everyone at OSI, and he will be missed deeply," Weller said. "I am
honored to assume this  position and feel  fortunate to be surrounded by a group
of talented  leaders who share my passion for providing  complete client service
and  satisfaction.  We are confident this  dedicated  focus will take OSI to its
next phase of growth and  performance." A search will be conducted over the next
several months to identify a permanent CEO. Weller plans to begin his assignment
by  holding  in-person  visits  with  associates  and key  customers  across the
country.
     Beffa, 51, helped the company set new standards for results, relationships,
and  responsiveness  in  receivables  management by organizing  the company into
industry-focused  sectors and investing in company-wide  training and operations
programs.  In 1999, Mr. Beffa negotiated the receivables  management  industry's
largest private equity  transaction - an $800 million purchase of OSI by Madison
Dearborn  Partners,  a Chicago-based  private equity firm. Prior to joining OSI,
Mr. Beffa served as president  and chief  operating  officer of DIMAC  Marketing
Corporation, and he was vice president of finance for the international division
of Pet  Incorporated.  Beffa is a graduate  of Columbia  University's  Executive
Management  Program  and  holds a  bachelor's  degree  from  the  University  of
Missouri.
     Weller,  42, joined OSI in July 1999 as executive  vice president and chief
financial officer. Previously, he served as CFO for Harbour Group Ltd, a private
equity firm located in St. Louis,  Mo., and  Greenfield  Industries,  Inc.,  the
nation's  largest  manufacturer  of cutting tools.  Weller,  a certified  public
accountant,  began  his  career  at Price  Waterhouse  where he  specialized  in
manufacturing  and financial  institutions  that were acquisition  oriented.  He
holds a bachelor's degree in accounting from Central Missouri State University.
     OSI  is  a  leading  business  process  outsourcing  (BPO)  firm  providing
receivables  management  services,  which link a company's cash flow  objectives
with credit  management  policies  from  beginning to end of the  credit-to-cash
cycle. By improving the revenue cycle, OSI enhances the financial performance of
America's  leading  companies,  as  well  as  government  entities,   healthcare
providers,   educational   institutions   and  other   credit   grantors.   With
industry-specific strategies and services, OSI delivers results that improve the
bottom-line  through  accelerated cash flow, lower operating costs,  reduced bad
debt  expense,  and  improved  customer  retention.   OSI  provides  receivables
management   outsourcing   to  a  blue  chip  roster  of  Fortune  500  clients.
Headquartered  in St.  Louis,  OSI has more than 9,000  associates  in nearly 70
locations  across 25 states  plus  Canada,  Mexico,  and Puerto  Rico.  For more
information, visit www.osioutsourcing.com.