Carrier Corporation Unit Chooses eMarket Capital as Its Principal Source of Customer Financing.

Business Editors/Hi-Tech Writers

KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--May 30, 2001

The Commercial Service unit of Carrier Corporation, the world leader in air conditioning, heating and refrigeration products, service and maintenance, has selected eMarket Capital, Inc. (www.emarketcapital.com) as its principal source of project financing.

eMarket Capital is a Web-based service that uses a patent-pending bidding process to facilitate the leasing of capital equipment for manufacturers nationwide.

"eMarket Capital will be the primary source of financing for our customers," said John Sumpter, finance program manager of Carrier Commercial Service (CCS). "Our expectation is to do $10 million to $20 million in sales financing during the first year. We also plan to pre-qualify customers through the site by talking to them about financing much earlier in the project purchasing cycle."

Carrier Commercial Service is a unit of the Carrier Commercial Systems and Services division, Syracuse, N.Y. The company provides HVAC products and services to commercial and industrial facilities, including airports, healthcare establishments, apartment buildings, hotels, motels, government and office buildings, and schools and universities. (See end of release for more information.)

"Although other Internet financing companies are available, Carrier selected eMarket Capital because of its manufacturing focus," Sumpter said. "The people who run eMarket come from the commercial financing business and understand manufacturing. The other sites available were either too broad in scope or based on consumer models that have been modified for business; the others don't focus on manufacturing, which we consider a niche with special requirements."

"Carrier's decision to use eMarket Capital speaks highly of our ability to meet the lease financing needs of a world-class company," said Jonathan Moran, eMarket Capital, Inc. Founder and President. "I am confident that our Web service will meet all of Carrier's financing needs and provide their customers with a financing process that makes offers easy to understand and compare."

By selecting eMarket Capital, the CCS unit broke with its past practice of using only a single lender for its customers. "It just didn't work," Sumpter said. "Carrier services 15 different market segments and no single lender is capable of providing financing for every customer in every segment. With eMarket Capital, we can direct lenders to the segments in which they prefer to do business - and provide the customers in that market segment with finance options.

"We anticipate that transactions will range from $70,000 to $2.5 million with the average being around $300,000," Sumpter said.

How eMarket Capital Works

eMarket Capital establishes a customized private-label leasing Web site for each participating manufacturer. Each site is operated under the manufacturer's brand name and includes a limited number of lenders who are experienced in that particular industry and who collectively can cater to a broad range of credit risks and types.

eMarket Capital's patent-pending Web-based process enables equipment manufacturers to help their customers secure fast, fair, competitively priced lease financing plans for their purchases.

Customers fill out a single application to receive multiple offers within three business days. Offers are submitted to the customer in a format that simplifies the process of making an "apples-to-apples" comparison. Lenders pay a below-market origination fee only when they complete a deal through the site.

About Carrier Corporation

Headquartered in Farmington, Conn., Carrier Corp. has roots dating back to 1902, when Willis Haviland Carrier invented the basics of modern air conditioning. Carrier Corp. has 39,000 employees in over 173 countries. The company combines its global HVAC and refrigeration expertise with the responsiveness of its local operations to lead nearly every geographic market.

Carrier Commercial Service offers nationwide service backed by more than 75 years of experience and a staff of over 1,000 factory-trained technicians. CCS has over 70 fully-equipped offices in the U.S. For more information, visit the Carrier Corp. Web site at www.carrier.com.

For more information about eMarket Capital, go to the company's Web site at www.eMarketCapital.com, telephone [phone] or 610/354-8820, or fax [phone].