X/Net Seeing Record Sales Of Web Front End

Online Loan Application Software's Q1 2000 Deliveries Equal Total 1999 Sales

ROCHESTER, N.Y.-- March 8, 2000 - As a result of a growing trend among financial institutions, X/Net Associates has seen a dramatic increase in demand for its online loan application software, Web Front End. The company has already received as many orders for delivery in the first quarter of 2000 as it had in all of 1999.

Web Front End, one of the first products of its kind, was introduced in 1997 for financial institutions that wish to Web-enable their lending systems. The software creates an online user interface, which allows consumers secure access to an institution's loan origination system through standard Internet browsers. With the software, lenders can allow their customers to apply for loans every day around the clock, and dramatically accelerate the decision process.

The software "bolts on" to work flawlessly with an organization's existing systems. In addition, Web Front End migrates easily and is compatible with system updates and more advanced technology.

"We're seeing a major trend among banks and credit unions looking for proven technology that enables consumers to apply for loans and monitor their status directly via the Internet," says Rick Hughes, vice president of sales and marketing at X/Net. "With Web Front End, we're able to help bring our customers' services to the Internet by supplementing the technology they already have. Best of all, their investment won't be lost as they update their systems."

Web Front End client William Zysk, vice president of credit services at Pennsylvania State Employees Credit Union (PSECU), agrees that the demand for online loan applications among consumers is growing. "Our loan volume speaks for itself," he says. "We have seen a 50% increase in total loan applications since we installed Web Front End on our website. And today, one of every five loan applications is completed online."

X/Net Associates, Inc. is a high-end software development and systems integration firm. The company provides complete software solutions within the financial, insurance and securities markets. Their products include CrediSphere™, a next-generation application for credit origination, and MetaSage®, the powerful underlying technology platform that is designed to handle all common B2B functional requirements. The company is headquartered in Fairport, N.Y., and also maintains an office in Columbus, Ohio. For more information, contact X/Net at 585-425-7047 or 888-GET-XNET or visit the company's web sites at www.xnai.com and www.CrediSphere.com.

Media Contact:
Rick Hughes
Tel: (585) 425-7047
Fax: (585) 425-2455
Email: rhughes@xnai.com