Pennsylvania State Employees' Credit Union Validates CrediSphere's® Value Proposition

Fairport, New York -- September 9, 2003 - X/Net Associates, Inc. (X/Net) today announced that Pennsylvania State Employees' Credit Union (PSECU), a $2.1 billion asset credit union with over 283 thousand members throughout the country, has experienced an 81% increase in underwriting decision efficiency and a 115% increase in one-day turnaround of consumer automobile loans since converting to CrediSphere for all of their consumer loan processing needs.

In production since January 2003, PSECU has leveraged several optional components within CrediSphere to fully automate and streamline many ancillary manual processes directly within CrediSphere's workflow. PSECU reports that nearly one-third of all applications are now being received and processed after hours. Most importantly, CrediSphere has facilitated these improvements without additional staff requirements.

CrediSphere's unique design and best-in-class features are ideally suited for companies needing an enterprise-class credit origination system that will support their lending requirements from data entry through qualification, notification, closing and document delivery. In addition, CrediSphere allows for the integration of multiple data sources while reducing total cost of ownership.

"As one of the most forward looking institutions in the nation, we have been honored to have PSECU as a trusted and loyal customer for many years. Our relationship has flourished in part because we both share a keen eye toward innovation and a pioneering spirit," said Gregg Olin, CEO and President of X/Net. “PSECU's efficiency gains are most impressive when one realizes that CrediSphere replaced a series of highly automated systems and processes in one of the most efficient lending centers in the country.”

"CrediSphere has facilitated our planned increase in our productivity. The efficiency gains allow us to offer products like the 30-second loan which simply translate into superior member service and savings,” said William Zysk, Vice President of Credit Services for PSECU. “We are very pleased with the gains we have realized through the use of CrediSphere for Consumer Lending. Our ability to serve our members when they are available is of the utmost importance to PSECU.”

CrediSphere, powered by X/Net's proprietary MetaSage® application and integration server, is the market leader in providing customer selected, multiple, integrated external services directly into the credit processing workflow. This best-in-class solution offers highly secure, native WAN and Internet communications, eliminating the cost and maintenance of middleware while using minimal bandwidth. With this highly scalable system, users can connect from the back office, remote branches, call centers, or over the Internet. CrediSphere for Consumer Lending provides complete credit origination processing including multi-channel data entry or capture, the most flexible product and policy development, multiple forms of automated and manual decisioning by product, insurance and cross-sell features, integrated document processing and delivery, and more than thirty directly integrated external services. CrediSphere for Consumer Lending supports secured and unsecured, open- and closed-end, installment and revolving products within direct, indirect, credit card, revolving credit and home equity credit products.

About Pennsylvania State Employees' Credit Union
Pennsylvania State Employees' Credit Union, located in Harrisburg, Pennsylvania has over $2.1 billion in assets and serves over 283 thousand members throughout the country. For more information, contact PSECU at 800-237-7328 or visit the company's website at www.psecu.com.

About X/Net Associates, Inc.
X/Net Associates, Inc. is an innovative software technology and integration firm providing complete software solutions within the financial services market. The company's products include CrediSphere, a next-generation, universal credit origination suite for consumer and small business lending, and MetaSage, a proprietary application/integration server using open standards. The company is headquartered in Fairport, N.Y. For more information, contact X/Net at 585-425-7047 or 888-GET-XNET or visit the company's website at www.xnai.com.

Media Contact:
Rick Hughes, X/Net Associates, Inc.
Tel: (585) 425-7047
Fax: (585) 425-2455
Email: rhughes@xnai.com