IMN Financial Corp. Receives Award for Its Internet Web-site and Continues to Build Following for Its On-line Web Pages

Business Wire, Jan 20, 1999

MELVILLE, N.Y.--(BUSINESS WIRE)--Jan. 20, 1999--IMN Financial Corp. (OTC: BULLETIN BOARD: IMNF) announced its Internet web page has been voted in the Asbury Park Press Readers' Choice Awards the best mortgage company in the Monmouth-Ocean New Jersey area.

With additional "hits" taking place each and every day on its web-sites, IMN Mortgage Network, a wholly owned subsidiary of IMN Financial Corp., continues to evaluate all business alternatives as we approach the millennium. Furthermore, the more traditional ways of applying for a mortgage, i.e. visiting the bank or applying over the telephone will be strengthened as the on-line processing of mortgage applications gains momentum.

In commenting about its on-line strategy, and the use of the Company's web pages, Mr. Chris Depew a regional manager with Island Mortgage Network, Inc. noted, "today's first time buyers possess the technology as well as the desire to do business from the comfort of their home office, using their keyboard and the internet. With tight schedules and access 24 hours a day, the consumer can work on documentation at odd hours."

Mr. Edward R. Capuano also noted, "In conjunction with our Internet web-site, we are able to approve loans through our automated underwriting system within five minutes, providing a response time that Internet users expect."

IMN Financial Corp., with over one billion dollars per year in annualized closings, continues to pave the way for future growth, and sustained profitability for the Company. IMN's principle business, through its wholly owned subsidiary Island Mortgage Network, Inc., is mortgage banking through origination's and sale of residential mortgage loans under the guidelines of VA, FHA, and Freddie Mac. Island Mortgage Network, Inc. has grown from one branch of operation in 1995 to a national mortgage banking company with forty-nine (49) branches operating in twenty two states.

Except for the historical information contained herein the matters discussed in this news release include forward-looking statements that may vary significantly based on a number of factors, including but not limited to, risks in product and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, and other risk factors detailed in the Company's most recent annual report, and other filings with the Securities and Exchange Commission.