IndyMac Bank Introduces Telebanking System for the Deaf and Hearing-Impaired; Launch Coincides with National Deaf Awareness Month in May.

Business/Lifestyle Editors

PASADENA, Calif.--(BUSINESS WIRE)--May 24, 2001

IndyMac Bancorp Inc. (NYSE:NDE) ("IndyMac"), the holding company for IndyMac Bank(SM), is launching a new telebanking and mortgage loan system for the deaf and hearing-impaired to coincide with National Deaf Awareness Month in May.

The telebanking and mortgage loan system allows a deaf or hearing- impaired person to dial in to IndyMac at 877/748-0002 via a modem link and teletypewriter (TTY) system to conduct all banking and mortgage loan transactions over the telephone in a live chat mode. IndyMac's team of specially trained customer service representatives communicates with these callers through a similar TTY system on site. IndyMac is staffed from 9 a.m. to 6 p.m. (Pacific Time) every day, and is only closed on Thanksgiving, Christmas and New Year's Day holidays.

"With our new TTY system, IndyMac can reach out to the estimated 28 million deaf and hard-of-hearing people across the country, particularly those without computer and Internet access," said Bill Hawkins, president of IndyMac's Consumer Banking Group.

IndyMac thoroughly tested all the offered banking functions of the TTY system in conjunction with the Greater Los Angeles Council on Deafness (GLAD).

Hearing-impaired consumers can reach mortgage professionals through the banking group for their mortgage needs. Through IndyMac's bank customer service representatives, these consumers will have full access to mortgage program and pricing information, as well as completing a loan application.

Additionally, IndyMac Bank's online banking and mortgage operations have extensive Internet capabilities that enable any consumer, including the hearing-impaired, to conduct banking and mortgage transactions online and get live help on any mortgage related question. The site can be accessed at www.indymacbank.com or www.indymacmortgage.com.

"Our No. 1-rated mortgage Web site, according to the Gomez Report, has full capabilities for all consumers to apply for a loan, obtain approval, lock in the interest rate and receive up-to-the-minute status on their loan transaction 24 hours a day, seven days a week," said Richard Wohl, president of IndyMac's Mortgage Banking Group. "One of the best features of our Web site enables consumers to get live help from a loan agent online, which is accessed through the 'Live Help' icon on the Web homepage.

"Activating this feature brings up a chat window whereby any consumer can correspond with a live loan agent and discuss any questions they may have on mortgage transactions or products," Wohl stated.

Consumers can receive live mortgage help Monday through Friday from 7 a.m. to 7 p.m., and Saturday and Sunday from 9 a.m. to 2 p.m., all Pacific Time.

IndyMac Bank distinguishes itself from other financial institutions -- both online and the traditional brick-and-mortar -- by offering customers a diversity of products and services that can be accessed in numerous ways through its technology-based infrastructure. For consumers, IndyMac Bank offers competitively priced mortgages in all major product areas with online decisions and custom-fit pricing. IndyMac also offers highly competitive rates on CDs and money market accounts, free checking, interest checking and free bill pay.

About the Greater Los Angeles Council on Deafness Inc.

GLAD is dedicated to improving the overall well-being of the deaf and hard-of-hearing community. It is founded on the philosophy "of, by and for the deaf," whereby the executive director, 51% of the board and/or staff are deaf or hard-of-hearing. Today, operating on a $5.0 million budget, GLAD serves more than 60,000 people annually through its main headquarters at the Community Center in the Eagle Rock neighborhood of Los Angeles, and at eight outreach offices in Los Angeles, Orange, Kern, Ventura, Santa Barbara, San Bernardino, Riverside and San Luis Obispo counties.

About IndyMac Bank

IndyMac Bank is a leading technology-based mortgage banker with proprietary, award-winning systems to facilitate, among other things, automated underwriting and risk-based pricing on a nationwide basis via the Web. IndyMac's mortgage banking group offers multichannel distribution of its mortgage products and services through a nationwide network of mortgage brokers, mortgage bankers and community financial institutions, in addition to programs offered directly to consumers and through Realtors and home builders. IndyMac Bank also provides community lending services through its limited Southern California branch system.

IndyMac Bank is FDIC-insured and offers a wide array of Web-enhanced banking services, in addition to its core mortgage products and services, and provides commercial loans to homebuilders across the nation for the purpose of constructing new single-family residences.

IndyMac's management is committed to delivering superior returns and increasing shareholder value. IndyMac's total return to shareholders for the period 1993 through April 30, 2001, of 28 percent, under its current management team, has outperformed the comparable returns of 16 percent and 18 percent for the S&P 500 and Dow Jones Industrial Average, respectively, for the same period.

For more information about IndyMac and its affiliates, or to subscribe to the company's Email Alert feature for notification on company news and events, visit the company's Web site at www.indymacbank.com.

Forward-Looking Statements

Certain statements contained herein may be deemed to be forward-looking statements within the meaning of the federal securities laws. The words "anticipate," "believe," "estimate," "expect," "project," "plan," "forecast," "intend," and similar expressions identify forward-looking statements that are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including the effect of economic and market conditions; the level and volatility of interest rates; the accuracy of subjective estimates used in determining the fair value of certain financial assets of the company; the impact of recently issued financial accounting standards; the impact of current, pending or future legislation and regulations; the actions undertaken by both current and potential new competitors; the availability of funds from IndyMac's lenders to fund future mortgage loan originations or portfolio investments; the execution of IndyMac's growth plans related to consumer banking operations; and other risks and uncertainties outlined in the reports that IndyMac files with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K.