BridgeSpan, Nation's First Online Closing Solution, Expands Into Southern Florida; For the First Time, Consumers Can Now Use the Internet to Close Their Home Transaction.

Business Editors & Real Estate Writers

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Oct. 4, 2000

For the first time ever, consumers in Southern Florida can use the Internet to handle one of the most complicated and misunderstood aspects of buying or selling a home -- the closing -- thanks to BridgeSpan Inc., which Wednesday announced that its services are now available in Dade, Broward and Palm Beach Counties.

BridgeSpan, the nation's first complete online closing solution for the residential real estate industry (www.bridgespan.com), enables consumers to work with their realtor either online or off, and have unprecedented access to the closing process.

Each step of the way, consumers can now track their transaction, even review and print forms before the closing occurs, thereby minimizing the chance of errors. Also, consumers no longer need to take time off work to close their transaction: at no extra cost, BridgeSpan's closing specialists will come to their home or office to complete the final phase of the transaction.

Unlike typical home transactions where consumers face a mountain of paperwork and are often asked to review, understand and sign dozens of legally binding documents just minutes after receiving them at the closing, consumers using BridgeSpan's Web site, (www.bridgespan.com) and services literally have a window into the transaction, reducing the possibility of errors and making for a less-stressful closing.

"BridgeSpan is totally focused on improving the closing process using state-of-the-art, Web-based technology and our own team of closing specialists -- all at no extra cost to consumers," said BridgeSpan Chief Executive Officer Mark Evans. "Southern Florida is a key market in terms of size, transactional volume and access to the Internet, and marks our first expansion outside California."

BridgeSpan has already proven successful with both realtors and consumers: last week the company announced it had reached the $1 billion mark in transactional volume, just months after launching and while primarily operating in the San Francisco Bay Area.

"BridgeSpan's closing services help me and my clients stay better informed about all elements of the transaction and ensures a much smoother closing process," said Robin Dybas of Arvida Realty Services, a top-producing realtor from Boca Raton.

"I was especially attracted to BridgeSpan because of the flexibility of their services for both me and my clients: I can work with them either online or off, and can initiate a closing by either phone, fax or the Internet."

Unique to the real estate industry, BridgeSpan's closing services are available at no cost to realtors, brokers, lenders, appraisers and other industry professionals. Home buyers and sellers pay customary closing costs and benefit from the combination of the company's exceptional closing services and its Web-based technology.

BridgeSpan's newly opened Southern Florida office is located at 600 Corporate Drive, Suite 630, Ft. Lauderdale, 33334, 888/340-4128.

About BridgeSpan

BridgeSpan Inc., through its subsidiary BridgeSpan Title Co., is the nation's only complete online closing solution (www.bridgespan.com) that enables all parties in a residential real estate transaction -- realtors, lenders, closing professionals and their customers -- to successfully close a home.

A Fulfillment Services Provider (FSP), BridgeSpan controls all aspects of the closing process using its own team of closing professionals and Web-based technology, which can be customized for local markets and integrated with other e-commerce solutions. Based in Mountain View, BridgeSpan is backed by Benchmark Capital, Sequoia Capital, and Capital Research and Management Co.