AMS Executive Joins LendingTree to Prepare Network for Increased Loan Demand

Business Wire, March 17, 1999

CHARLOTTE, N.C.--(BUSINESS WIRE)--March 17, 1999--

Finance Industry Pro to Manage

Lender and Borrower Relationships

LendingTree, Inc., the leading online loan center, today announced that David Anderson, a former senior principal at American Management Systems Inc. (AMS), has joined the company as Vice President of Lender Management and Borrower Relations.

Anderson will work with the more than 30 lenders on The LendingTree Network to continually increase their closed loan rates. He will manage technical improvements of backend systems, as well as the re-engineering of lenders' traditional loan processes.

During his 10 years with AMS, a leading technology consulting company, Anderson advised large financial institutions on best practices in credit origination and customer relationship management. His roles at AMS included serving as originations program manager, client engagement manager, and U.S. delivery services manager. He earned his bachelor's degree in computer information systems from James Madison University.

"Last month alone, more than 30,000 consumers requested loans on LendingTree's site worth $2.2 billion. We're devoting substantial resources to ensure that this growing demand translates into more closed loans," said Doug Lebda, founder and CEO of LendingTree. "David's knowledge of lending processes makes him the ideal person to spearhead this effort."

"I've worked with lenders for years to create efficient and effective origination channels, but I think the Internet blows these traditional tools out of the water when it comes to cutting costs," said Anderson. "I couldn't pass up the opportunity to be part of a company that's completely re-engineering the lending industry."

In addition to his work with lenders, Anderson will plan and manage the growth of LendingTree's Borrower Relations call center. LendingTree is increasing the size of its call center staff to handle an anticipated boom in volume expected from partnerships with priceline.com, a name-your-price mortgage and home equity service, and Credit Management Systems, Inc. (NASDAQ: CMSS), a company that gives LendingTree access to the CreditConnection network of leading prime and non-prime automobile lenders.

About LendingTree, Inc.

LendingTree, Inc., founded by Doug Lebda in 1996 and based in Charlotte, N.C., is the only place - on or off-line - where a network of lenders bid for borrowers' business. Loan types include personal, auto, mortgage, home equity, debt consolidation and credit cards. The company is led by a management team comprised of veterans in the banking, financial services and information technology industries. In addition, LendingTree has formed strategic partnerships with Snap! and priceline.com. The priceline.com relationship lets borrowers name their own rate and terms for mortgages and home equity loans on priceline.com. Borrowers get answers to their loan requests from lenders in The LendingTree Network. LendingTree is an equal opportunity lender. Go to www.lendingtree.com or call 704-541-5351 for more information.