AcaciaBank becomes eosbank, Appoints Experienced Management Team; Online Bank Targeting Gen-i Positioned to Lead Niche Market of Internet Users.

Business Editors/Internet Writers

SAN FRANCISCO--(BUSINESS WIRE)--May 3, 2000

eosfinancial corp today announced that its online bank, AcaciaBank (www.acaciabank.com), one of the earliest established Internet banks, will become eosbank (www.eosbank.com), an FDIC insured financial institution. Two brick and mortar branches, located in San Mateo and Laguna Hills, California, as well as its commercial real estate lending function, will remain under the AcaciaBank name.

eosbank also announced a senior management team that brings over 85 years combined financial experience to the company. Roy Henderson, 57, has been named president and CEO of eosbank and eosfinancial corp. He most recently held the position of vice chairman at UnionBanCal Corporation, a $29 billion bank and holding company resulting from the merger of Bancal Tri-State and Union Bancorp. Early in his career, Henderson spent 23 years at Seafirst Corporation where he held senior management positions before moving to Puget Sound Bancorp as president and COO.

James Ochsner, 45, was named executive vice president and COO, and contributes senior management expertise from The Pacific Bank, Liberty Bank and Bank of America, where he spent 13 years.

Joyce Kaneda, 47, was named executive vice president and CFO, and has held senior management positions at KPMG, Manufacturers Bank and BrooksHoldings. (Additional bio information available at end of release.)

"Smart Choices for Gen-I"(SM)

By combining an unmatched client experience with strategic e-commerce partnerships and an array of financial products and services, eosbank is positioned to lead the niche market of online banking to those individuals who use the Internet most frequently. eosbank has chosen 'Smart Choices for Gen-i' as its tagline. "Gen-i is a group that sees the Internet as second nature -- and they're not necessarily identified by age. Gen-i is comfortable making purchases, searching for information and finding lifestyle solutions online. We want to give them the attention they deserve when it comes to online banking," said Henderson.

eosbank currently offers free bill pay, high-yield certificates of deposit and savings accounts, a 'car smart' auto center and customizable home page features, including the ability to track selected stocks in a personal portfolio. In the near future, eosbank plans to offer an array of products and services, including a money market fund account, investment products, online financial planning tools and a credit card.

"We really want to create a dialogue with our clients, and will be asking them for their input on the types of products and services they want. Their feedback will help shape eosbank's future offerings," noted Ochsner. eosbank's i-Care Client Service Center is staffed with eosbank Advisors who are available to help with financial and site navigation questions via e-mail and by toll free number from 6 a.m. to 5 p.m. Pacific Time, Monday through Friday. The bank expects 24/7 hours to be available soon.

eosbank plans to add a number of customized features, including an aggregator function, allowing eosbank clients to view account information at a glance, even if the assets are with another financial institution. "We want to make it easy for our clients to 'visit their money.' Their personal eosbank page will allow them to view their entire financial portfolio in a private, secure bank-protected site, helping them to more effectively manage their money and build their financial wealth," Henderson added.

Exclusive Flooz.com(TM) Partnership

eosbank is the only online bank to partner with Flooz.com (www.flooz.com), the world's first online gift currency redeemable at over 70 e-stores, to promote online customer referrals, acquisitions and lifestyle profiling of the Gen-i segment. eosbank is one of the first corporate clients to join the Flooz for Business program.

New savings and certificate of deposit account holders are eligible to receive free Flooz four different ways:

      --  Individuals who open and fund a new savings account will be
        awarded up to $100 of free Flooz

      --  eosbank clients who refer a friend or relative who opens and
        funds a new account will get $25 of free Flooz

      --  Those who open certificate of deposits will receive $20 of
        free Flooz (good for a music CD or the item of their choice)

      --  AcaciaBank clients who enable their accounts online at the
        eosbank site will also receive $20 of free Flooz

eosbank has also partnered with Home Account(R), a leading financial product and Internet service interface provider, to create the front-end capability of eosbank.

About eosbank

eosbank seeks to become the preferred global Internet bank choice for Gen-i. By combining an unmatched client experience with strategic e-commerce partnerships and an array of financial products and services, eosbank is positioned to lead the niche market of online banking to those individuals who use the Internet most frequently. AcaciaBank, online since 1997, changed its name to eosbank in April 2000. For more information, including executive head shots, please visit www.eosbank.com.

Mr. Roy Henderson brings over 35 years of banking experience as president and CEO of eosbank. Mr. Henderson holds a B.A. in Economics from Whitman College. He has also attended The Pacific Coast Graduate School of Banking, the University of Washington Management Program and Stanford University Business School's Senior Executive Program.

Mr. Jim Ochsner, executive vice president and COO, received his B.A. in Economics from the University of Washington and his M.B.A in Finance from UC Berkeley.

Ms. Joyce Kaneda, executive vice president and CFO, received her B.A. in Economics from Pitzer College and her M.B.A. from Stanford University. She is also a Certified Public Accountant.