Fitch Ratings Upgrades PCFS' Resi Servicer Rating To 'RPS2-'.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 31, 2002

Fitch Ratings upgrades the residential primary servicer Rating for subprime product of Provident Consumer Financial Services (PCFS) in Atlanta, GA, to 'RPS2-'. The primary servicer rating is based on PCFS's improved abilities in loan administration and default management, and its seasoned management team. The rating also reflects the financial strength of PCFS's parent, the Provident Financial Group, Inc., the robust technology platform, the improved training program, enhanced internal controls, and their capable default management strategies and procedures.

PCFS is a division of Provident Bank, which is a subsidiary of Provident Financial Group, Inc. (PFGI). PFGI, a diversified commercial banking company based in Cincinnati, OH, and Provident Bank are both rated 'BBB+/F2' by Fitch. As of April 30,2002, the Atlanta subservicing platform serviced approximately 17,200 subprime loans aggregating about $2 billion, which is an increase of 138% by loan volume and 350% by dollar volume from April 30, 2001. Fitch will continue to monitor the impact of recent and planned enhancements on operational efficiencies, as well as the company's progress in maintaining consistent performance in the pursuit of its growth initiatives.

Fitch rates residential mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. Within each of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating. For more information on the review and rating process for servicers, see Fitch Research on 'Rating Residential Loan Servicers', dated Aug. 3, 1999, and available on the Fitch Ratings web site at 'www.fitchratings.com'.