CapitalThinking Improves Commercial Loan Process With Innovative Tools; Graphic Commercial Mortgage Calculator and Access to Rates Via Cellular Phone Deliver Efficiency

Business Wire, June 22, 2000

Business Editors

NEW YORK--(BUSINESS WIRE)--June 22, 2000

CapitalThinking (www.capitalthinking.com), the leading online commercial mortgage marketplace, today announced the launch of its newly updated Web site. The newest tools include the graphic CapitalThinking Commercial Mortgage Calculator and access to instant rate quotes through Internet-enabled cellular phones. Heather Shively, co-founder and CEO of CapitalThinking, said, "Making mortgages easier to price and compare is a critical part of our strategy for creating a deeper, more liquid, commercial mortgage marketplace."

The CapitalThinking Commercial Mortgage Calculator, a Java-based applet, provides the industry's only dynamic depiction of actual mortgage costs under different financing scenarios. The calculator was developed by Larne Pekowsky, Vice President of Engineering at CapitalThinking and one of the world's most highly regarded Java experts. Pekowsky recently published JavaServer Pages, the first book-length treatment of the topic.

The calculator lets users connect instantaneously with lenders and "see" the entire marketplace for a loan on one screen in a graphic format. Changing variables like property type, interest rate, principal and time frame produces an instantaneous graphic representation of the change in mortgage payment terms. The calculator is featured on CapitalThinking's Web site in the Tools and Resources section and will be featured on other related sites. The CapitalThinking Commercial Mortgage Calculator can be accessed at: http://www.capitalthinking.com/borrower/tools_applet.jhtml

CapitalThinking's new wireless application protocol (WAP) tool helps on-the-move mortgage brokers, lenders or borrowers stay abreast of shifting markets. Using any wireless phone carrier offering Internet access, users can remotely monitor price movements for the prime, treasury, LIBOR and swap rates. The service is available immediately to the public. To access rates via web-enabled cellular phones go to: http://www.capitalthinking.com/i.wml

"Our unique rate quote wireless application brings together two of the world's most powerful media -- wireless communications and the Internet -- and places vital financial information in the hands and pockets of the public. The rate quote wireless application is just another example of how CapitalThinking is using best-in-class technology to bring speed and efficiency to the commercial lending process," said Shively.

About CapitalThinking

CapitalThinking is an online commercial mortgage marketplace providing e-finance solutions to the $250 billion U.S. commercial real estate mortgage industry. By combining cutting-edge Internet technology with the largest group of experienced real estate professionals in the online commercial mortgage industry, CapitalThinking brings unprecedented speed and efficiency to the commercial lending process. The Company works with 23 of the nation's top lenders, including commercial banks, insurance companies and conduits.

CapitalThinking closed its first loan on May 16, a $2.8 million multi-family acquisition deal funded by J.P. Morgan. The loan closed in forty days.

CapitalThinking recently closed a $15 million second round of venture capital financing, led by Bessemer Venture Partners and RRE Ventures. iStar Financial and ABP Investments also committed funds. Aberdare Ventures led the company's first-round financing of $3.4 million raised in September 1999.