Notice of Filing Securities Class Action Against NetBank, Inc., Steven F. Herbert and Douglas K. Freeman

The law firm of Brower Piven, A Professional Corporation, today announced that a securities class action was commenced on behalf of shareholders who purchased or otherwise acquired the common stock of NetBank, Inc. (PINKSHEETS: NTBK) between May 1, 2006 and September 17, 2007, inclusive (the "Class Period").

The case is pending in the United States District Court for the Northern District of Georgia. The action charges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by issuing a series of materially false and misleading statements to the market throughout the Class Period which statements had the effect of artificially inflating the market price of the Company's securities.

No class has yet been certified in the above action. If you are a member of the Class, you may retain counsel of your choice, and you may move the court no later than November 19, 2007, to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the class you need not take any action at this time.

If you acquired shares (or purchased call options or sold put options) of NetBank, Inc. during the Class Period indicated and want to discuss your legal rights, you may e-mail or call Brower Piven who will, without obligation or cost to you, attempt to answer your questions.

Brower Piven has paid a fee to Market Wire to issue this press release, and Brower Piven is not counsel in the case referenced in this release. You may contact Brower Piven at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@browerpiven.com or by calling 410/986-0036.

CONTACT: Brower Piven, A Professional Corporation Baltimore, Maryland Charles J. Piven 410/986-0036 Email Contact