eLocity Changes Name to Diversified Financial Resources Corp.

Business Editors

CORONADO, Calif.--(BUSINESS WIRE)--Aug. 23, 2002

eLocity Networks Corp. (OTCBB:ELOC) announced today a name change to Diversified Financial Resources Corp. ("Diversified"), effective at the opening of business, Friday morning, Aug. 23, 2002.

The new symbol for Diversified is OTCBB:DVFR.

Diversified is a holding company that currently operates through a non-conventional mortgage provider, Family Financial Solutions Corp. ("FFSC") and a real estate property management company, Diversified Holdings-XIX Inc. ("Diversified Holdings"). Diversified intends to build a portfolio of companies focused on key industry sectors.

The initial acquisitions of real estate assets and a mortgage service provider are the basis for Diversified's focus on the real estate sector. Once FFSC and Diversified Holdings are consolidated into Diversified's overall business plan, management intends to look to other potential acquisitions in energy resources, biotechnology, manufacturing and hospitality.

FFSC is a Utah-based financial consulting firm that offers a non-traditional approach to debt reduction through "interest only" mortgages, designed to improve cash flows, eliminate debt and provide a variety of financial options to create future wealth for families on average incomes throughout the United States.

The types of financial options that FFSC intends to provide include insurance, tax planning, debt management and estate planning. FFSC anticipates that as its base of clients grows, so too will the need for investment advice related to utilizing the cash flow savings that come from "interest only" mortgages.

Diversified Holdings owns 13 pieces of real estate located in Utah and California. The real estate primarily consists of residential investment properties which include several homes, three apartment complexes and raw land. The total estimated gross value of the real estate is $3,845,000. The real estate has approximately $2,287,000 in underlying mortgages with an estimated $1,558,000 in net equity.

The rental properties currently generate an estimated $306,000 in gross rental revenues.

Diversified strongly encourages the public to read the above information in conjunction with eLocity Networks Corp.'s Form 10KSB for Dec. 31, 2001, and 10QSB for June 30, 2002. These documents are available at www.sec.gov. Investors are discouraged from making investments they cannot afford to lose.

A number of statements contained in this press release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, notwithstanding the fact that such Act may not be available to the referenced companies.

These forward-looking statements involve a number of risks and uncertainties, including the timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure sufficient financing to complete the transaction.

The actual results that the referenced companies may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.