Advanta Sets Continuing Operations Profit Target for Fiscal 2001

Advanta

(ADVNB)

said Friday that it expects operating earnings of $1.41 a share from its business card and Advanta Partners divisions for fiscal 2001.

The financial services company is planning to increase its focus on the business credit card division, as it expects to complete the sale of its mortgage business unit to

J.P. Morgan Chase

(JPM) - Get Report

in the first quarter.

The Class B common shares of Advanta fell 25 cents, or 2.1%, to $11.75 in recent

Nasdaq

trading.

Earlier this month

FleetBoston

sued Advanta to block the sale of the mortgage business. Advanta responded by

saying the suit was the "latest tactic" used by Fleet in the ongoing litigation between the two companies.