BCE Emergis and e-Net Canada Automate Mortgage Processing for Canadian Lenders.

MONTREAL--(BUSINESS WIRE)--July 29,1999--

BCE Emergis, in partnership with e-Net (Canada) Financial Services Ltd., today announced the launch of the 2 Minute Mortgage(TM) solution.

A major breakthrough in business-to-business electronic commerce, the 2 Minute Mortgage(TM) automates all of a mortgage-lender's workflow and underwriting by electronically connecting lenders with mortgage brokers, mortgage insurance companies, credit bureaus and other trading partners.

BCE Emergis will provide round-the-clock hardware and software support, network security and the administration of this new Canada-wide mortgage solution developed by e-Net. In addition, BCE Emergis will also manage the electronic translation of EDI documents originating in multiple protocols from all trading partners, for application processing.

Using e-Net's new browser-based mortgage origination and underwriting technology, lending institutions will be able to automatically approve and process mortgages in about two minutes. The system's automated workflow and underwriting features streamline business processes and enhance customer service, freeing underwriters to concentrate on more complex mortgage applications.

The first company to adopt the 2 Minute Mortgage(TM) is MCAP Mortgage Corporation which underwrites over $1 billion in new residential mortgages each year. MCAP will implement the 2 Minute Mortgage(TM) in successive stages beginning this fall. The 2 Minute Mortgage(TM) will enable MCAP to eliminate data-entry costs and cut turnaround time. MCAP underwriters and administrators will connect to the system from six remote branch locations across Canada.

"The 2 Minute Mortgage(TM) complements our suite of leading-edge back-office solutions for mortgage institutions," said Robert Habert, Vice President and General Manager, BCE Emergis Mortgage Services. "Its launch follows closely on the heels of other e-commerce services we offer to the mortgage industry. Earlier this year, BCE Emergis and e-Net launched the award-winning Online Mortgage Explorer (OME) in the U.S., in both multi-lender and single-lender versions. Developed by e-Net and distributed by BCE Emergis, OME allows consumers to shop and apply for mortgages via the Web, in a secure encrypted environment. With the implementation of electronic appraisal order and delivery systems for organizations like Cendant and LandSafe in the U.S., BCE Emergis has been extending its reach in the North American mortgage services industry for the past three years."

"The mortgage industry is becoming increasingly competitive", said Ric McGratten, President of MCAP Mortgage Corporation. "MCAP plans to stay ahead by being the first to automate the entire mortgage origination and approval process. We selected e-Net as our service provider for their technical expertise, track record, and strong partnerships."

"Our strategic alliance with BCE Emergis strengthens our position as a leader in Internet mortgages," said Jason Smith, Executive Vice President of Mortgage Services for e-Net Canada. "The use of Internet technology to consolidate trading partners around the mortgage transaction unlocks enormous efficiencies and increases response times for customers. We look forward to working with BCE Emergis on the next phases of this offering appraisal delivery, and bill payment and presentment."

MCAP Mortgage Corporation evolved from the in-house mortgage operations of The Mutual Trust Company, part of The Mutual Group. Leveraging more than 100 years in the residential mortgage business, MCAP provides banks and other investors with access to the resale housing mortgage market through a national network of independent mortgage brokers. Through a relationship with the Bank of Montreal and Clarica Life, formerly Mutual Life, MCAP has a competitive position in a specialized market.

e-Net (Canada) Financial Services Ltd. is a leading provider of browser-based electronic commerce solutions for the financial services sector in North America. e-Net works closely with e-commerce industry leaders and financial organizations, and their trading partners, to deliver innovative, business-to-business market solutions. Initially focused on the mortgage industry, e-Net's financial e-commerce solutions increase profitability and improve customer-service levels through secure transaction services.

BCE Emergis delivers network-centric e-commerce business solutions that enable organizations to better compete in the global marketplace. Combining e-commerce services, network infrastructure, security services, and payments solutions through industry vertical applications, BCE Emergis offers a full suite of core technologies that are the essential building blocks for electronic commerce. BCE Emergis, one of the top tier electronic commerce providers in the world is now part of the TSE 300 Composite Index. More information is available at www.emergis.com.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of BCE Emergis with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.