Press Release

August 23, 2001

While other mortgage companies are spending millions of dollars on advertising, iloan123 is launched to target local Chinese ethnic market, as the company believes it is a much more efficient and cost-effective way to build the business by focusing on the markets which are ignored by major national mortgage lenders.

"In addition to driving customers to the site, our target marketing strategy helps us to reach the right customers," Donny Chen, Sr. Associate of said. "We believe that it is also a major factor in enabling us to convert mortgage shoppers into customers more often than any other company that focuses on the online mortgage market."

Based on research estimates from Morgan Stanley Dean Witter, Lending Tree converts 5% of the applications it receives into closed loans and E-Loan and iOwn convert between 10% and 15% of applications they receive into closed loans. Iloan123 converts more than 80% of its applicants into closed loans by providing bilingual speaking agents, local access convenience, competitive rates, streamlined processing, robust guarantee policies, etc.

"Customers choose because we have more residential loan products to select from than anyone else in the local area; offer the lowest loan rates on a consistent basis; and because we employ mortgage professionals instead of telemarketers - provide the highest level of customer service." Mr. Chen said.

About iloan123

iloan123 was created with a vision to improve both online and traditional mortgage applications.

iloan123 is dedicated to provide online pricing while retain personalized services from mortgage consultants with years of experience.

iloan123 provide a completely on-line lending service that makes getting a mortgage or home equity loan easier and faster than ever before. As our name implies, it's as easy as 1-2-3 and takes just 15 minutes to apply! We provide you with an instant interest rate quote and review your application for on-line approval.

We're available 24 hours a day, 365 days a year. Our goals are to provide you the highest level of service and the best rate possible on your loan.