AppOnline.com Introduces Downloadable Wireless Tools for Mobile Realtor Community

Business Wire, May 5, 2000

Business & High Tech Editors

MELVILLE, N.Y.--(BUSINESS WIRE)--May 5, 2000

Developed for the Palm VII Handheld Computer, Leading

Online Mortgage Lender Now Offers Realtors Access to Online

Sales Tools Through Use of the Palm.Net Service, Anytime

AppOnline.com, Inc. (AMEX: AOP), a fast-growing Internet mortgage company, today announced that it now offers tools to benefit realtors and their clients while in the field looking for homes. Realtors will now be able to view real-time interest rates, calculate their clients' monthly payments using the current day's rates, and begin the application process using the latest wireless technology from Palm, Inc. Designed by AppOnline.com specifically for use on a Palm VII(TM) handheld with the Palm.Net(TM) service, the new web clipping application can be downloaded free of charge from AppOnline.com's web site, www.apponline.com/realtor (and www.palm.net). According to a new national AppOnline.com survey of realtors, an overwhelming majority -- 98% -- said that they use the Internet for business purposes.

Specifically, AppOnline.com's new web clipping application provides tools that:

- Allow the realtor to calculate a client's monthly mortgage payment from the
field.

- Provide the day's rates by loan product type.

- Calculate a loan amount based on the day's interest rate for all popular loan
products.

- Allow the realtor to complete a short form mortgage application in the field
on behalf of their client.

The AppOnline.com survey conducted among a random sampling of realtors also revealed that more than a third (35%) use the Internet to check interest rates and nearly one-quarter (24%) said they use the Internet for loan calculators. "We expect these percentages to increase dramatically over the next year as the online and bricks and mortar real estate industries continue to converge to provide the consumer with the widest array of products and services possible."

"The ability to instantaneously provide a client with a quote of what their exact payment would be on a home they are considering is invaluable," said Rick Edler, a new user of AppOnline.com's latest Web tools and owner and president of the Edler Group, a Los Angeles, CA - based realty company, part of Fred Sands Palos Verdes Realty. "In addition, the ability to show a client the day's interest rates within seconds demonstrates that you are on the cutting edge. We are going to provide all our agents with Palm VII handheld computers and the Palm.Net service so that they can download and use AppOnline.com's new application."

According to Cenna Skulsky, senior vice president of AppOnline.com, Inc. "The residential real estate industry is highly competitive where speed and access to real-time information can make or break a deal for both the realtor and buyer alike. We developed the tools with these competitive pressures in mind -- where potential homebuyers often have to make lightning-speed decisions about buying a home when there are other bidders for the property. That is where access to projected mortgage payments and the ability to pre-qualify online right from the driveway outside their dream home, if necessary, can be very useful."

"We talked to realtors and learned a great deal about how they are leveraging technology to advance their business and help meet customer needs. The survey and new web clipping application for the Palm VII handheld are just the latest in our efforts to provide maximum customer support throughout the entire home buying process," explained John Vercelletto, director of Internet technology for AppOnline.com.

AppOnline.com is also developing additional web clipping tools which will be released in early summer that will enable the realtor to calculate how much a client can afford.

AppOnline.com, Inc., through it's wholly-owned subsidiary, provides mortgages quickly, easily and securely over the Internet, as well as through its national network of mortgage branches, with customer service from click to close. AppOnline.com has provided more than $1 billion in residential mortgages within the past 18 months.

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.

Palm, Palm VII, and Palm.Net are trademarks of Palm, Inc. or its subsidiaries.