Item 8.01 Other Events.

On June 16, 2009, Advanta Corp. (the "Company") announced the results for its cash tender offer (as amended and supplemented, the "Tender Offer"), for any and all of the $100 million outstanding 8.99% Capital Securities issued by Advanta Capital Trust I (the "Capital Securities"). The Tender Offer expired at 5:00
p.m., New York City time, on June 15, 2009. The Company has accepted for purchase all of the Capital Securities validly tendered and not validly withdrawn in the Tender Offer. The aggregate principal amount of the Capital Securities validly tendered and not validly withdrawn pursuant to the Tender Offer was $10,803,000, representing approximately 10.8% of outstanding Capital Securities. The total consideration payable per $1,000 principal amount of Capital Securities is $200.00. The settlement date is expected to be June 17, 2009.

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This Form 8-K contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The most significant among these risks and uncertainties are the impact of litigation and legal, regulatory, administrative and other claims, investigations or proceedings. The cautionary statements provided above are being made pursuant to the provisions of the Private Litigation Securities Reform Act of 1995 (the "Act") and with the intention of obtaining the benefits of the "safe harbor" provisions of the Act for any such forward-looking information. Additional risks that may affect the Company's future performance are detailed in the Company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.

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Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits.

(c) Exhibits.

99.1 Press Release issued June 16, 2009.

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