Finantra Capital, Inc. Names Senior Management Team At Mortgage Subsidiary; Nationally Prominent Mortgage Banker, Malcolm Resnick, To Head Up Ameri-cap Mortgage Corp., Inc

Business Wire, Feb 2, 1999

CORAL GABLES, Fla.--(BUSINESS WIRE)--Feb. 2, 1999--

-- Finantra Also Announces Termination of Purchase

Agreement of Medical Marketplace --

Finantra Capital, Inc. (OTC:FANT) today announced it has named three senior managers to its wholly-owned mortgage subsidiary, Ameri-cap Mortgage Corp., Inc. Malcolm Resnick, who owned and operated Sunshine Financial Corporation, one of the largest mortgage banking firms in South Florida, will become President and Chief Operating Officer of the company. With nearly three decades of experience in real estate development, banking and finance, Resnick is highly regarded for his expertise in mortgage banking, construction lending and government loans.

Craig Bavaro, who served as Resnick's Chief Financial Officer at Sunshine Financial Corporation will assume that position at Ameri-cap Mortgage Corp., Inc. Most recently, Bavaro was CFO of Mortgage Bankers Service Corp., based in Coral Springs, FL where he set up the Loan Servicing and Treasury functions of the company and expanded its Corporate Accounting Department.

Current Finantra Capital, Inc. board member, Maynard Hellman, will become chairman of Ameri-cap Mortgage. Hellman, is a prominent attorney and real estate developer.

"The addition of Malcolm Resnick, Craig Bavaro and Maynard Hellman to the management team of Ameri-cap Mortgage Corp. represents Finantra's commitment to the residential and commercial mortgage industry," said Robert Press, Finantra Capital's chairman and president. "With extensive credit facilities along with this high-level management team, we're confident that we will experience exceptional growth and profits from this segment of our company."

Press also said that Resnick will bring a large group of professional staff to Ameri-cap that will double the number of personnel of the subsidiary making it one of the largest Finantra Capital, Inc. operating units.

The company also said it has terminated a stock purchase agreement of Medical Marketplace, a subsidiary of Computer Marketplace, Inc. (OTC BB:MKPL). According to Press, the deal was subject to certain financial and other criteria that Medical Marketplace did not achieve prior to the scheduled closing.

Finantra Capital, Inc. specializes in accounts receivable financing, equipment leasing, mortgage banking and other types of specialty financing.

This release contains forward-looking statements which are subject to risks and uncertainties including, but not limited to certain delays beyond the Company's control with respect to future business events, regulatory approvals and other risks detailed from time-to-time in the Company's filings with the Securities and Exchange Commission.