MLA, Inc. Launches H.O.P.E. Affordable Housing Program at U.S. Conference of Mayors; Mayor Willie Brown Opens Doors for Bay Area Firm.

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--June 20, 2000

Nothing can stop the power of a company whose time has come. And for Fremont, California-based MLA, Inc., that time is now.

So when San Francisco Mayor Willie Brown took almost 30 minutes at the 68th Annual United States Conference of Mayors to introduce MLA, Inc., a private company that helps poor families buy homes, the other Mayors listened. In fact, according to a June 15, 2000 front page cover story featured in the San Francisco Examiner, Mayor Brown praised MLA's H.O.P.E. Affordable Housing Program during his Community Development and Housing Committee meeting. "We are extremely fortunate that Mayor Willie Brown allowed us the privilege of launching the H.O.P.E. Affordable Housing Program at the conference" said MLA, Inc. Chief Executive Officer, Terry L. Ritter.

The 68th Annual U.S. Conference of Mayors was an overwhelming success thanks to the leadership and vision of Mayors and local/federal housing authorities throughout the United States. In fact, several thousand single-family properties were made available to MLA and its H.O.P.E. Program during the conference.

MLA's President and Founder Shamim S. Ritter captured the essence of the H.O.P.E Affordable Housing Program at the event when she stated... "In order to improve our country, our cities and our communities, we must first start with the family. MLA is dedicated to strengthening families through home ownership."

The universal platform for the Conference of Mayors focused on affordable housing, health care and education. Vice-President Al Gore, Governor George Bush and Reverend Jessie Jackson delivered compelling live speeches during the event, each emphasizing the critical need to secure affordable housing for lower income families. MLA, Inc. and its coalition team, including: First Bank Mortgage, Freddie Mac, Fidelity National Financial and Radian Guaranty, are committed to improving the quality of life for the nation's lowest socioeconomic group. First Bank Mortgage President, Marc T. Turkcan stated during his presentation at the U.S. Conference of Mayors... "With your leadership and MLA's H.O.P.E Program, we can begin to address the critical issue of providing quality housing and home ownership to our most economically challenged citizens."

MLA, Inc., in concert which its coalition partners, has created one of the most aggressive affordable housing programs ever offered. H.O.P.E. requires minimal local/federal resources while offering home ownership to the nation's lowest income socioeconomic group. H.O.P.E. creates a financing vehicle that uses approved Section 8 voucher subsidies to retire ten year mortgage notes. At the end of the loan term, the deed is conveyed to the tenant for a nominal fee of $1 U.S. dollar.

MLA, Inc. forecasts that the initial $200 million dollars earmarked to acquire thousands of single-family properties and land for development from city, state and federal agencies, will be exhausted by Q-1 2001. MLA Inc. is currently in the process of acquiring additional financial commitments for phase II of its fast-growing H.O.P.E. Affordable Housing Program. Additionally, MLA, Inc. has developed a comprehensive property management Service and Maintenance program (SAM(TM)) utilizing state-of-the-art, online technology proving property and financial records database with real-time access via a secure network in concert with the Internet. Several large property management and real estate mortgage companies have expressed interest in acquiring MLA's SAM(TM)technologies. MLA's moneylineamerica.com division also employs this same cutting-edge technology by offering on-line home mortgage services to millions of credit union members through its exclusive agreement with publicly-traded Cavion.com. MLA, Inc. is truly changing the face of America...one home at a time.