Home Equity Lenders Gear Up to Help Texas Customers; Beneficial Texas Mortgage Co. Kicks Off Campaign with Spokesperson George Foreman

Business Wire, Nov 5, 1997

DALLAS--(BUSINESS WIRE)--Nov. 4, 1997--With the passage of Proposition 8 allowing for home equity lending in Texas, many lenders are preparing for a massive marketing effort to educate consumers on how the home equity loans work, what restrictions will apply and how homeowners can benefit with such a loan.

Beneficial Texas Mortgage Co. will begin its marketing effort with the introduction of George Foreman as its spokesperson. To educate consumers, Beneficial Texas Mortgage Co. and its affiliate, Beneficial Texas Inc. will begin immediately with the following: -0-

 -- Beneficial Texas Mortgage Co. will center its television
    advertising campaign on George Foreman, the Houston-based boxer,
    because he is a Texas resident and has broad market appeal.

 -- Television ads will include George Foreman addressing the
    benefits of home equity loans and will direct consumers to call
    a toll-free number for more information.  The commercials will
    begin airing Wednesday, Nov. 5 in Houston, Dallas/Fort Worth,
    San Antonio and Austin, and Thursday, Nov. 6 in Abilene,
    Amarillo, Corpus Christi, El Paso, Laredo, Lubbock,
    Midland/Odessa, San Angelo, Victoria and Waco.

 -- Half-page and full-page advertisements will also run in the
    yellow pages in most Texas markets and will appear in the new
    1998 editions.

 -- Beneficial Texas Inc.'s network of 50 local offices will be
    supported with direct mail advertising, and its materials and
    advertisements will also be translated into Spanish because
    approximately 35 percent of the company's business is conducted
    in Spanish.

 -- Texas consumers will be able to access information over the
    Internet for both Beneficial Texas Mortgage Co. and
    Beneficial Texas Inc. at http://www.beneficialtexas.com .