BNC Mortgage Inc. Increases Common Stock Repurchase Plan.

IRVINE, Calif.--(BUSINESS WIRE)--April 6, 1999--BNC Mortgage Inc. (Nasdaq:BNCM) Tuesday announced that its board of directors has authorized the company to repurchase up to an additional $1 million of the company's common stock, $0.001 par value, in open market purchases from time to time in the discretion of the company's management; the timing and extent of the repurchases will depend on market conditions.

BNC intends to effect such repurchases, if any, in compliance with the Rule 10b-18 under the Securities Exchange Act of 1934. The acquired shares will be held in treasury or cancelled.

As of April 5, 1999, the company has repurchased 738,629 shares or 13.29 percent of the issued shares of stock for an aggregate amount of $4 million, at an average price of $5.42 per share.

"We believe that the value of the company is not reflected in the current market price of our common stock," said president, Kelly W. Monahan. "This additional repurchase reflects our continued confidence in the long term potential of our company."

BNC Mortgage is a specialty finance company engaged in the business of originating, purchasing and selling, on a whole loan basis for cash, conforming and non-conforming, residential mortgage loans secured by one-to-four family residences.

Except for historical information contained herein, this news release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended in Section 21E of the Securities Exchange Act of 1934, as amended and involve risks and uncertainties that could cause actual results to differ materially. These forward-looking statements can be identified by the use of words "anticipated," "will," and "would." The company's actual results could differ materially from those anticipated in the forward-looking statements.