ON-LINE DATABASE CONNECTS BORROWERS WITH LENDERS.

DataMerge, Inc., a Denver-based developer of software and on-line database information systems for companies or individuals seeking financing, has launched CyberLoan 2000, an on-line system that allows borrowers seeking commercial real estate loans to instantly apply to as many as 500 lenders and receive preliminary loan commitments electronically. With CyberLoan 2000, the loan application process, which traditionally takes up to two weeks, now takes less than 30 minutes. The system works like this: A borrower (or intermediary/broker) inputs information from a standard set of financial statements and rent roll report onto a secure server; CyberLoan 2000 crunches the numbers, performs various real estate-related financial analysis, and creates a Loan Request Summary; Portions of the summary are automatically transmitted through DataMerge's secure web server to lenders whose financing criteria match the borrower's request (up to 500 lenders); Lenders can then review full information by logging onto the server, contact the borrower electronically, request more information, and/or issue a preliminary loan commitment through the system. Developed with the assistance of executives at key lending institutions, the information and format of the Loan Request Summary mirrors that used by loan review committees to approve loan originations. It provides enough information for a lender to make a preliminary commitment, followed by a firm commitment pending receipt of various due diligence materials. At the same time, CyberLoan provides much needed security for borrowers and lenders alike. In addition to standard electronic protections, it eliminates from electronic transmission any information which would be considered confidential, allows borrowers to "mask" listings so specific properties or borrowers cannot be identified, and forces lenders to use secure access accounts and passwords to review information. "CyberLoan 2000 provides tremendous time savings to borrowers and intermediaries," said Spencer Kluesner, chief executive officer of DataMerge. "In the past, a borrower spent weeks pulling together summary documentation, calling lenders to determine their funding criteria, then photocopying and mailing out packages. Often times, they would only then find out that the project couldn't be funded. With CyberLoan 2000, they can complete this entire process in just 30 minutes and never waste time on projects that can't be funded. I see it as the first big step toward real-time commercial real estate lending." CyberLoan 2000 also helps borrowers secure the best rates and terms by creating a more competitive lending environment. With the system, borrowers have access to far more financing institutions. They can look beyond their local bank for a loan, and can also source lenders for difficult or out-of-the-ordinary properties. The system also provides time-savings to banks and other lending institutions by solving some common problems: It prescreens and eliminates unqualified loan requests that would typically clutter the desks of loan officers; It provides information in a standardized and familiar format, allowing instant review and analysis. This makes decision-making both quicker and less error-prone; It ensures loan request information is filled-out completely before it is submitted. Incomplete documentation is the leading cause of loan request rejection; It completes much of the financial analysis usually done by the loan officer; It educates borrowers on the entire financing process through an on-line knowledgebase, the Mortgage Advisor, thereby reducing the time loan officers spend with less sophisticated borrowers and with borrowers for difficult property types. "CyberLoan 2000 will totally change the way this industry [commercial real estate lending] works," Kluesner said. "Now borrowers can get their money much faster, while lenders can originate those loans faster, with less administrative overhead and less risk. After using the system just once, borrowers and lenders alike will find it difficult to do things the old way." ACCESS & FEES DataMerge will charge borrowers and brokers for access to the CyberLoan 2000 system under two different subscription plans. The premium one year subscription costs $650 plus $24.95 per month and allows a user to submit an unlimited number of loan requests and also allows unlimited searches on DataMerge's MortgageSource 2000 on-line database. An alternative "one-time" subscription costs $199 and allows users to submit one loan request to lenders on the system. Users can gain access to CyberLoan 2000 by calling DataMerge at [phone] or by visiting http://www.financingsources.com. During the initial test phase, DataMerge does not charge "bona-fide" lenders for access to the system. The company, however, anticipates charging fees based on the dollar amount of loans originated through the system. Lenders have also expressed interest in licensing the CyberLoan 2000 system for inclusion on their private websites. DataMerge is currently working on further development of such a system, which will be called CyberLoan 2000 Executive, but has not yet planned a release date. Formed in 1989, privately-held DataMerge is led by Spencer Kluesner, a former securities and mergers & acquisitions advisor who today serves as chief executive officer of the 26-person company. DataMerge is currently in negotiations for second-round of private financing and does not anticipate undertaking an initial public offering (IPO) until after the second quarter of 1999. DataMerge's products, which include "how to" manuals, electronic directories and financial software, are sold to and used by over 21,000 customers in the North America, Western Europe and Asia. Additional information can be obtained at DataMerge's website: www.datamerge.com or by calling 303-757-6298. http://www.financingsources.com 800-580-1188