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NETWORK FINANCIAL SERVICES ANNOUNCES AGREEMENT WITH SECTOR GROUP FOR NATIONAL MARKETING OF VOICE-ACTIVATED "PROSOLUTIONS" SOFTWARE

 -- Establishes Nationwide Mortgage Origination Channel --
 SAN JOSE, Calif. July 1 /PRNewswire/ -- Lee Danna, chairman and CEO


of Network Financial Services, Inc., (NASDAQ: NETW) announced today that Network has entered into a 10-year agreement with the Sector Group to market ProSolutions' state-of-the-art real estate office management system, across the country. Sector Group has agreements with both NCR and IBM to provide hardware and sales support for this venture. "ProSolutions is the only fully integrated office management/marketing software available for the real estate industry," said Danna. "It is easy to use, incorporating touch screen and voice activated technology, and it incorporates both mortgage and insurance origination, providing both the user and Network Financial Services with significant additional profit opportunity."
 "We believe ProSolutions is the only product to satisfy both the real estate industry's needs for automation and additional profit centers. This should drive the adoption of ProSolutions across the industry. Network will then benefit in two ways. First, we will receive a membership fee from the users. Second, the computerized loan origination and insurance modules, will automatically feed applications back through our mortgage banking and insurance subsidiaries, greatly expanding our current origination channel.
 "While it is too soon to quantify the impact of this product on Network Financial Services, the opportunity is significant. Per the National Association of Realtors (NAR) there are approximately 115,000 real estate companies, with 712,000 brokers and agents, in the United States. For each one percent penetration, we would add 1,150 offices to our current retail network. That's 36 times our current 32 Network office locations. Assuming each of those offices has 10 agents and each agent originates only two, $100,000 mortgage annually, this represents an opportunity of approximately $2.3 billion in mortgage originations on which Network could expect to generate $25 million in revenue. Of course it will take time to develop the capacity to support a significant increase in loan volume. But, needless to say, this will have a major impact on our revenues and earnings.
 "The time is right for such a product. Most real estate companies and their agents are far from computer literate and are running their organizations in the same way they have for years. However, there is a groundswell of understanding that by utilizing automation effectively these companies can improve productivity and profitability. According to a recent survey by NAR, more than 76 percent of attendees at NAR conventions are actively looking for automation solutions. The same study showed that 67 percent are also looking for products and services to supplement real estate sales for additional income.
 "Currently, there is no single software program available to completely automate the local real estate office. To duplicate the functionality of ProSolutions, an agent would need to invest in approximately six separate programs. 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. Sector 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. Accessing the system is easy and convenient with both voice activated and touch-screen versions available. 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."
 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 multitude 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.
 "This system will have a dramatic effect on the operation of any real estate business," Lee 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 enable the user to provide the consumer with a superior level of service, as well as establishing new profit centers."
 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 32 offices with more than 300 agents and employees. Network's 9.2 million common shares are traded on the NASDAQ under the symbol NETW.
 For additional information on Network Financial Services, Inc. Via fax, No Cost Dial 1-800-PRO-INFO, CODE 008
 -0- 7/1/93
 /CONTACT: Lee Danna of Network Financial Services, 408-475-1000, or Lise Needham of Financial Relations Board, 415-986-1591, for Network Financial Services/
 (NETW)


CO: Network Financial Services, Inc. ST: California IN: CPR SU:

TM -- NY005 -- 7544 07/01/93 09:02 EDT
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Date:Jul 1, 1993
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