Countrywide Introduces Web-Based Financial Planning Tools for Mortgage Customers.

Business Editors & High-Tech/Real Estate Writers

CALABASAS, Calif.--(BUSINESS WIRE)--April 24, 2001

Mortgage Provider Makes Cofiniti's Wealth Planning Tools

Available On Internet; Targets Customers With Savings as a

Result of Refinancing 

Countrywide Credit Industries Inc. (NYSE:CCR), a diversified financial services provider, is helping homeowners make the most of the money they save as a result of refinancing their mortgage with the rollout of customized online financial planning tools.

Consumers can use the Web-based tools to independently create and modify their financial plan based on life goals, be it financing a child's college education or retiring early and traveling the world. The plan is then sent via the Internet to the consumer's Countrywide Financial Advisor and later reviewed in tandem with the planning professional either face-to-face or via the Internet.

The online planning tools, available to Countrywide's three million customers via its Web site, http://www.countrywideinvestments.com, is powered by financial management software developer Cofiniti Inc.

Don Steele, Cofiniti's president and CEO, said that Countrywide's decision to implement financial planning tools reflects an overall shift towards cross selling within the financial services industry.

"Financial planning is an incredibly intimate, very personal service, and most investors want to work with a company that they already know and trust," said Steele, whose company has, in recent months, announced alliances with S1, Standard & Poor's, Farmer's Insurance and H&R Block. "As with insurers, bankers and tax preparers, mortgage providers have strong relationships with their customers. Providing its customers with access to financial planning tools is a natural extension for Countrywide."

"Cofiniti's technology provides our Financial Advisors with the tools necessary to further develop and expand existing customer relationships, said Keith Pipes, president of Countrywide Investment Services Inc. "Our customers, particularly those who have savings as a result of refinancing, want to be able to invest and plan for the future. They want to work with a company they have trusted over the years with their home, and will now trust with planning for other major life events."

The online planning tools are available via http://www.countrywideinvestments.com/ where consumers can:

-- Create a highly personalized and thorough view of assets with charts,
graphs, "what if scenarios" and analytical tools -- online or remotely with a
Countrywide Financial Advisor

-- Create and modify investment objectives to reach financial goals

-- Modify their financial plans and send revised plans to their Countrywide
Financial Advisors for professional review

-- Discuss the breadth of investments available and execute transactions
through their Countrywide Financial Advisors

-- Collaborate with a Countrywide Financial Advisor online while both are
viewing the same personalized plan.

Cofiniti is a leading developer of financial management software solutions for the retail financial services industry. Cofiniti products and services integrate the electronic delivery of financial product information with state-of-the-art desktop planning and portfolio optimization tools to dramatically increase sales and profits for banks, brokerages, mutual fund and insurance companies as well as financial planners and advisors. Cofiniti is a privately held, venture capital-backed company located in Austin, Texas. See Cofiniti on the Web at http://www.cofiniti.com/.

Founded in 1969, Countrywide Credit Industries Inc. is a member of the Forbes 500 and Fortune 500. The company provides consumer and business-to-business financial services in domestic and international markets. Consumer businesses include mortgages, consumer insurance and other retail financial products. Business-to-business activities encompass processing and technology, capital markets and B2B insurance.

Principal subsidiaries include Countrywide Home Loans Inc., which originates, purchases, securitizes, sells and services home loans; Full Spectrum Lending Inc., a sub-prime residential lender; LandSafe Inc., a provider of loan closing services; Countrywide Insurance Services Inc., a full service insurance agency; Countrywide Investment Services Inc., a registered broker-dealer; Countrywide Capital Markets Inc., a mortgage-related investment banker; and Balboa Life and Casualty, a national provider of property, liability and life insurance. In addition, Countrywide owns 50 percent of Global Home Loans, a European mortgage banking joint venture.

For more information about the company, visit Countrywide's Web site at http://www.countrywide.com/.

Certain of the information included in this press release may contain forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from historical results or those anticipated due to a number of factors such as the direction and level of interest rates, competitive and general economic conditions in each of our business sectors, expense management and other risks detailed in documents filed by the company with the Securities and Exchange Commission from time to time. Words like "believe," "expect," "should," "may," "could," "anticipated," "promising" and other expressions, which indicate future events and trends identify forward-looking statements. The company undertakes no obligation to publicly update or revise any forward-looking statements.