First Tennessee Joins The LendingTree Network to Target Web-based Borrowers

Business Wire, July 1, 1999

MEMPHIS, Tenn.--(BUSINESS WIRE)--July 1, 1999--

Customers shopping for credit cards, auto loans, personal loans or home equity loans will be able to receive quotes from companies including First Tennessee (Nasdaq:FTEN) through the Internet now that First Tennessee has joined the LendingTree network of lenders. LendingTree is the online loan marketplace that connects borrowers to a network of lenders who compete for their business.

"We're always looking for new ways for customers and potential customers to access products and services from First Tennessee, and as our Internet bank has grown we've seen increased interest from Web-savvy consumers across the country," said Lisa Menuskin, vice president of First Tennessee Online Financial Services. "We're really excited about the exposure that LendingTree can give us to people who've maybe never considered doing business with us before." First Tennessee's Internet bank, FTB Online, can be found at www.firsttennessee.com.

LendingTree's online center (www.lendingtree.com) has seen a five-fold increase in traffic since June 1998. In the month of May alone, LendingTree received more than 45,000 Qualification Forms from people interested in products available through the Website. "Borrowers know that our network includes top lending institutions, and they know they will get the most competitive rates and best customer service from The LendingTree Network," said Doug Lebda, CEO and founder of LendingTree.

About First Tennessee

First Tennessee (Nasdaq:FTEN), headquartered in Memphis, Tenn., is a nationwide, diversified financial services institution and is one of the 50 largest bank holding companies in the United States in asset size and market capitalization. Banking and other financial services are provided through the regional banking group and three national lines of business: FT Mortgage Companies, First Tennessee Capital Markets and transaction processing. Transaction processing includes credit card merchant processing, MONEYBELT (automated teller machine network), First Express (nationwide check clearing operation), and other transaction-oriented cash management products. The corporation's stock is listed in the financial section of most newspapers as FstTN Ntl and is included in the Standard & Poor's MidCap 400 index. More information is available at First Tennessee's website at www.firsttennessee.com.

About LendingTree, Inc.

LendingTree, Inc. is the online loan marketplace that connects consumers with a network of lenders who compete for their business. Loan types include mortgage, home equity, personal, auto, and credit cards. Founded by Doug Lebda in 1996 and based in Charlotte, N.C., LendingTree is led by veterans in the banking, financial services and information technology industries. LendingTree has formed strategic partnerships with priceline.com, Bloomberg.com and Snap!, and currently has more than 6,000 affiliate Web sites. LendingTree is an equal opportunity lender. Go to www.lendingtree.com or call 704/541-5351 for more information.