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NETWORK FINANCIAL SERVICES: QUANTUM LEAP FOR THE HOME REAL ESTATE MARKET IN COMPUTER SOFTWARE DEVELOPMENT

 SOQUEL, Calif., Dec. 17 /PRNewswire/ -- Lee Danna, chairman and chief executive officer of Network Financial Services Inc. (NASDAQ: NETW) today announced the completion of a state-of-the-art "real estate office management system." The software, developed in conjunction with Sector Group, a Burlingame, Calif. business consulting and high-tech development company, provides a comprehensive integrated management system specifically designed for ease-of-use by real estate professionals in and away from their offices.
 Danna said, "We have been working intensely on the development of this software for the past year. We believe we will see the benefits very quickly. This proprietary software system will definitely provide our agents with a 'competitive edge.' We plan to roll out the systems to our 40 offices throughout Northern California beginning in February 1993. In addition, this will enable us to establish offices in additional markets more quickly."
 Currently, there is no single software program available to completely automate the local real estate office. Daniel Ashby, a consultant brought on board by the company to plan and design automation technologies, said, "To duplicate the functionality of our software, an agent would need to invest in approximately six separate programs. Each with a different set of operating instructions. We have integrated all of the functions an agent or broker needs to run their business effectively. With this software, an agent can manage every step of the process from prequalifying a buyer, scanning and searching listings, to tracking the opening and closing of escrows.
 "Agents and brokers don't want to spend time playing with their computers, they want to be on the road with buyers and sellers. We specifically designed this program for the average real estate professional, not a computer jockey. A user can be up and running in a few hours, versus days to learn other large software products, because everything is menu-driven. The system is based on touch-screen technology that allows the user to simply touch or point at colored buttons on the computer monitor that are clearly labelled as to what they do when selected. The touch-screen interface and software user- interface effectively eliminate the need to memorize hundreds of commands typically required of software programs. The system can also be used with pen-based computers, a PC-mouse, light-pen and/or keyboard. And as new technologies become viable alternatives, such as cellular data-transmission and voice-recognition, the software can become compatible with limited modification.
 "Equally as impressive is the system's compatibility with other hardware and software and the ability to grow with new technologies. The system is already compatible with over 92 percent of the current computer equipment being used in the market and works under DOS, MS-Windows and OS/2. The system can also be used on pen-based computers so an agent can take it to a customer or on the road."
 Some of the features offered by the system include: front-desk inventory access; tracking of listings, open escrows, closings and expired listings; managing and tracking agents; prospect tracking and management; a multitutde of management functions; accounting; communication software; polling and consolidation of branch offices; buyer prequalification; closing costs; residential analysis; amortization; and a variety of other tools too numerous to outline.
 Network Financial Services offers a one-stop service for home buyers with the ability for company agents to provide mortgage financing, insurance, real estate sales, home services and a variety of other services necessary in purchasing or selling a home, all under one roof. This new software system was designed to improve efficiency in all areas for all their real estate agents. "This system will have a dramatic effect on the operation of our business," Danna said. "It will reduce the time spent managing the office and increase the time agents spend selling and servicing their clients. It will dramatically reduce the paper load and we believe allow all of us to provide the consumer with a superior level of service."
 Network Financial Services is a uniquely integrated provider of "one-stop shopping" for real estate, mortgage, insurance and other related services to home buyers and sellers throughout Northern California. The company operates three divisions: Network Real Estate, an Electronic Realty Associates (ERA) franchisee, one of the largest and fastest growing real estate brokerage firms in Northern California; Network Capital Group, a 25-year old mortgage banking operation; and Network Home Services, a provider of insurance brokerage and property care services. The company has grown rapidly over the last several years and currently operates more than 40 offices with more than 400 agents and employees. Network's 4.8 million common shares are traded on the NASDAQ under the symbol NETW.
 -0- 12/17/92
 /CONTACT: Lee J. Danna, chairman of Network Financial, 408-462-6200; or Nick Farina, 312-266-7800, or Lise Needham, 415-986-1591, or Kathy Phelan, 212-661-8030, all of Financial Relations Board, for Network Financial/
 (NETW)


CO: Network Financial Services Inc.; Sector Group ST: California IN: FIN SU:

RS-GT -- SF004 -- 8041 12/17/92 08:33 EST
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Date:Dec 17, 1992
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