E-Loan Named Exclusive Mortgage Provider for hrblock.com

Business Wire, Jan 12, 2000

Business Editors/Technology Writers

DUBLIN, Calif.--(BUSINESS WIRE)--Jan. 12, 2000

The hrblock.com Mortgage Center Powered by ELOAN is One of Three

Main Areas of the Newly Expanded H & R Block's Site Along With Tax

Preparation and Financial Services

E-LOAN, Inc. (Nasdaq:EELN) (www.eloan.com), a leading online lending company--rated number one in customer satisfaction by Gomez Advisors--now provides exclusive mortgage services for hrblock.com, the most trusted name in online tax preparation. The Mortgage Center will be one of the three centers featured on the new H & R Block website through prominent tabs on the home page. The other two centers are Tax and Investment.

"We chose E-LOAN because they are the leader, both in loan volume and in providing the best available loan rates and features," said Pat Crorkin, H&R Block's assistant vice president of E-commerce. "Calculating taxes and arranging mortgages can confuse and intimidate people. Customers have come to trust H&R Block for tax services, and we believe E-LOAN has earned the same trust for loans. E-LOAN's technology makes loans easy to understand and obtain, and their broad range of loan products assures that the consumer can get the best possible deal ."

"H&R Block has a vision of empowering consumers to manage their complete financial picture," said Joe Kennedy, president of E-LOAN. "E-LOAN exists to help consumers find an easier and more affordable way to finance their dreams, so the partnership between our companies is a great fit. People who go to H&R Block for help with taxes will appreciate our service, since the transaction with the greatest tax implications to a consumer is usually his or her home mortgage."

The agreement with E-LOAN also allows hrblock.com visitors access to E-LOAN's full suite of debt management tools and mortgage services. The Mortgage Center powered by E-LOAN features calculators to estimate tax implications and benefits of home ownership, email notification when the loan rate desired becomes available, a tool that recommends the best loan types for a borrower's situation, customized rate quotes, and a mortgage comparison feature -- everything the consumer needs to get a home loan.

Using the Mortgage Center, H&R Block customers can start by answering just a few questions to get instant quotes from E-LOAN's database of more than 70 lenders and 50,000 loan products. At the click of a button, a borrower can then compare loans and obtain recommendations to determine which loan fits best and saves the most money. After choosing the loan that is right for them, borrowers fill out a simple application form, submit it online, and proceed through the loan process with the help of a personal Loan Consultant.

About E-LOAN, Inc.

Founded in 1996, E-LOAN, Inc., a leading online lending company, offers mortgages, car loans, credit cards and small business loans. At www.eloan.com, borrowers can compare, apply for and obtain loans from many nationally recognized lenders. After closing a loan, E-LOAN, Inc., provides ongoing monitoring services, helping consumers manage their debt to lower their overall cost of capital. E-LOAN, Inc. has strategic partnerships with leading Internet companies, including Yahoo!, E*Trade, Wingspanbank.com, Kelley Blue Book, AutoTrader.com and Car & Driver Online. The company's loan processing center is located in Dublin, CA. E-LOAN, Inc. is publicly traded on the Nasdaq system under the symbol EELN. E-LOAN, Inc. has announced joint ventures in Japan, Australia, the United Kingdom and Europe.

About H&R Block

Founded in 1955, H&R Block Inc. is a diversified company with subsidiaries providing a wide range of financial products and services. H&R Block Tax Services Inc. served 18.9 million taxpayers in more than 10,000 offices located primarily in the United States, Canada, Australia and the United Kingdom in 1999. Option One Mortgage Corporation, Assurance Mortgage Corporation of American and H&R Block Mortgage Company offer a full range of home mortgage products. Through RSM McGladrey Inc. and HRB Business Services Inc., the company has built a national accounting, tax and consulting firm. Block Financial Corporation offers consumer financial products and services, including tax preparation services over the Internet. Quarterly results and other information regarding H&R Block are available on the company's Web site at www.hrblock.com.

This news release contains forward-looking statements based on current expectations that involve risks and uncertainties. E-LOAN, Inc. actual results may differ from the results described in the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, general conditions in the mortgage industry, interest rate fluctuations, and the impact of competitive products. These and other risk factors are detailed in E-LOAN Inc.'s periodic reports and registration statements filed with the Securities and Exchange Commission.

NOTE TO EDITORS: In the company name E*Trade noted in this news release, there is an asterisk between E and Trade. This symbol may not appear properly in some systems.