Community West Bancshares Electronic Subsidiary Expands Product Line.

GOLETA, Calif.--(BUSINESS WIRE)--March 29, 1999--Lew Stone, president & chief executive officer of Community West Bancshares, announced the expansion of products by its subsidiary, Electronic Paycheck, LLC.

Electronic Paycheck, purchased by the company in late 1997, developed proprietary software, known as Oktopus and based on internet protocol, which allowed employers to pay their employees electronically by way of the Electronic Paycheck Card, even if the employees didn't have bank accounts. In this way, employees without bank accounts could have access to their pay at ATMs and point-of-sale terminals around the world. The card also gives people who currently do not have banking relationships an inexpensive way to move away from the all-cash environment. The card is currently being used to pay employees in the agricultural, manufacturing, and cruise line industries. Stone said, "We originally envisioned the card only as a way to address the needs of the unbanked across the country. However, as the software has been developed, many other uses have arisen."

In addition to payroll, the card may be used by companies as an alternative to cash travel advances, or to pay commissions or other payments to agents in industries such as network marketing, or companies that have representatives traveling internationally.

Check cashing stations around the country now have the option of issuing cash cards to their customers instead of cash. Their customers who traditionally do not have bank accounts, have the added security of not having to carry cash with them at all times. And people needing money transfer services can obtain a second card which they can send to their family or friends to be used for withdrawals at ATMs worldwide. These easy and secure transactions result in dramatic savings to the card user in wire transfer fees and potential foreign exchange costs. Companies which provide short term payday loans are now using the cards to fund loans with electronic funds rather than by check. This saves the costs associated with paper checks.

The various card uses also allow companies to issue their own branded card. This feature is of particular interest to larger companies which have the potential of issuing thousands of cards.

As part of the payroll card development for the cruise line industry, Electronic Paycheck has developed a first-of-its-kind kiosk to be used on-board ships which allow onboard deposits, integrated money transfers, and the printing of remote statements. This kiosk was recently premiered to cruise line executives at the Sea Trade 99 Show in Miami.

The company earns revenues at the time the card is issued, as cash is added to the card, and whenever the card is used. Stone said, "The development of the concept has been slow, because of the necessity of building the required security and reliability into the system. However, as evidenced by the interest in the many card uses, we believe the potential growth in cards issued and used can be explosive, and we are uniquely positioned to capture a significant share of the market as it develops."

Community West Bancshares is a financial services company with headquarters in Goleta. The company has three subsidiaries, Goleta National Bank, Palomar Savings, and Electronic Paycheck, LLC.

This release contains forward-looking statements which reflect management's current views of future events and operations. These forward-looking statements are based on information currently available to the company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including, but not limited to, the successful marketing of the Electronic Paycheck concept and the acceptance of its use by cardholders. In addition, as competition develops, fees collected for issuance and usage may be less than currently expected. The company's actual results may differ materially from those in the forward-looking statements as a result of various important factors, including general economic conditions and "Competition" as described in the company's Form 10-K for the year ended Dec. 31, 1997.