Electronic Commerce Solutions Extend Marketing Reach For Mortgage Companies, Banks and Credit Unions

Business Wire, Feb 10, 1997

SAN JOSE, Calif.--(BUSINESS WIRE)-- Feb. 10, 1997--Two leading providers of Internet products and services have formed a strategic alliance to provide mortgage companies, banks and credit unions with expanded opportunities to conduct electronic commerce on the Internet.

Myers Internet Services, which helps mortgage companies, banks and credit unions market products and services on the World Wide Web, and iCat Corporation, which provides software for companies to create catalogs for the Internet, announced the alliance today. Under the alliance, Myers Internet Services will provide customized solutions using iCat's technology for the financial services industry.

"It is increasingly common for companies to offer electronic access to their product lists or catalogs and to allow clients to electronically select, order, and pay for these products," said Craig Danuloff, iCat's president and CEO. "Together, iCat and Myers Internet Services offer a complete solution for creating and delivering the most advanced catalogs on the Web. Our combined expertise provides an unmatched infrastructure and tools for merchants and corporations to design, build and publish secure, interactive Web catalogs."

"As an iCat Commerce Partner, Myers Internet Services will enable mortgage companies, banks and credit unions to deliver information, services, and products to consumers, far more cost-effectively than was previously possible," according to Warren H. Myer, chief executive officer of Myers Internet Services.

With the iCat Electronic Commerce Suite 3.0, scheduled to be available in late February, a bank, for example, could quickly create a comprehensive, interactive catalog of products and services, deliver it on the Internet and accept secure electronic transactions from shoppers.

"Within the mortgage industry, a mortgage insurance company might use the iCat solution to let mortgage companies and banks order rate cards, manuals and other information over the Internet," continued Myer. "However, iCat software can also be used in intranet settings. For example, a large organization might have product literature, price sheets and other internal documents that are constantly needed by branch offices. The iCat product will help these organizations reduce the cost of doing business."

To generate a catalog with the iCat Suite 3.0, a user simply enters product information using the iCat Commerce Publisher and selects from numerous predefined templates and template plug-ins to apply a unique look and feel to storefonts, while adding powerful shopper and merchants features. The software features include robust, powerful searching capabilities, built-in electronic shopping cart functionality, secure credit card processing, platform flexibility, and tax and shipping calculations. Transaction processing is supported on any Internet server.

iCat Corporation, founded in 1993 and based in Seattle, delivers the most complete and powerful electronic commerce solution for creating catalogs on the Web. The privately-held company has announced technology and marketing relationships with Open market, Checkfree Corporation, First Virtual, EDS, CyberCash, NETCOM and others. Internationally, iCat Europe, Ltd. has established sales and marketing operations in UK, France and Germany. Products are also distributed in Japan by Trans Cosmos International. iCat Corporation is an active participant in the creation of industry standards for Electronic Commerce, and is currently a member of several professional Internet organizations, including the World Wide Web Consortium, CommerceNet and the Association for Retailing Standards. For more information, visit the iCat web site at http//:www.icat.com , or call (888) 533-8800.

Myers Internet Services (MIS), founded in 1995, provides web-site design and hosting as well as industry-specific directories for mortgage companies, banks and credit unions that direct prospects to client home pages. In addition to providing Mortgage-Net, MIS offers: the Mpro-Net directory (http://www.pro-net.com), a national clearinghouse for mortgage information; Equity-Net (http://www.equity-net.com) for mortgage and home equity loan prospects; the Imperfect Credit Mortgage Directory (http://www.imperfectcredit.com) to market products and services to individuals with less than optimal (B, C and D) credit ratings; and free web site development and hosting to mortgage banking and brokerage associations. For more information, contact Myers Internet Services at (800) 693-7770 or visit the MIS web site at http://www.myer.com/mis .

CONTACT: Myers Internet Services

Warren H. Myer, 800/693-7770

warren@myer.com

or

iCat Corporation

Jodi Sorenson 206/623-0977

jodis@icat.com

or

William Mills Agency

Kelly Williams, 404/264-7202

wmakelly@aol.com