Business & Money Trail:

Basis100 INC - EXPANDS USAGE OF ITS VALUATIONS TECHNOLOGY

Basis100 Inc, an e-commerce technology solutions provider for the financial services industry, announced its strategy to expand the use of its data-rich valuation models (AVM) to mitigate collateral risk in all segments of the U.S. mortgage market from origination to the capital markets. To execute on this strategy, Ms Elizabeth Green was appointed vice president, U.S. business solutions responsible for the technology and product strategy and Mr. Bryan Horn was promoted to vice president, U.S. sales, responsible for managing the sales team and working to create strategic customer relationships.

Basis100 combines sophisticated analytics with data warehousing to provide the highest level of accuracy, geographic coverage, data suitability and accessibility in property valuation models on the market today. Its teams have expertise in appraisal, economics and mortgage banking. The primary revenue model is transactional, with a focus on developing long-term contractual relationships by adding value to the customer's experience. In addition to growth by acquisition, there are three key elements to the 2002 U.S. strategy:

• Continuous improvement - The valuation service will be continually analyzed to identify improvements in accuracy and reliability and to improve the overall hit rate. There are currently over 100 million properties in the Basis100 database, making it one of the largest in the industry. This data is massaged and reformatted on an ongoing basis to further increase the accuracy and hit rate. By continually improving the indexes, geographic coverage and property characteristic content, Basis100 expects to capitalize on new market opportunities.
• Providing additional technology to existing customers - Basis100 will develop customized valuations solutions for its existing customer base that will allow them to modify their business rules when required, using the POWERBASE dynamic rules engine. The valuation technology will be customized with tools that analyze the risk profile of a specific mortgage vertical. The format and delivery of the valuations will alter, depending on the requirements of the industry segment.
• Deliver valuation technology to new market segments - Basis100's corporate expertise is in developing industry-wide technology solutions. We will harness this technology to extend richer valuation services across all segments of the mortgage process from point of sale to capital markets and loan servicing for equity, as well as first mortgage loan products. Features for loan servicing will also be added providing opportunities to use valuation services in default management and loss mitigation.

Over the course of the next 120 days several enhancements will be introduced to the current service, beginning with improvements to the user interface for accessing property valuations. The Web site address, www.valuations.basis100.com, will be introduced March 12th at the MBA Technology Conference. This new site will serve as the platform for further service improvements and enhancements. All existing URLs will continue to be supported and will automatically be routed to the new address.

"Basis100 is the market leader in automated valuation. We believe that AVMs play a vital role behind the scenes in various due diligence and quality assurance exercises as well as serve as a viable pre-qualification tool at the point-of-sale," said Joseph J. Murin, Basis100 Chief Operating Officer, "As the industry increases its acceptance of technology to identify and assess collateral risk in additional segments of the mortgage industry, we believe there will be an increased call for more sophisticated, data-rich automated valuation models. We now have the people in place to execute on this strategy."

The U.S. management team was strengthened by promoting industry veterans Ms. Elizabeth Green and Mr. Bryan Horn. Ms. Green joined the Basis100 team in 1999, bringing over 18 years of mortgage banking industry experience to the position. She was instrumental in developing the technology and business requirements for BasisXpress, a loan origination and processing solution currently in use in the Canadian marketplace. She is integral in developing the U.S. strategy, and in this new role Ms. Green will be responsible for product innovation and strategies to expand the role of the AVM in the global marketplace.

Bryan Horn has been with Basis100 for two years and was promoted from North East sales manager to the role of vice president, U.S. sales, responsible for managing the sales teams and developing customer-centric sales strategies. Bryan brings over 10 years of industry experience to the position, where he has consistently been a top performer.

"Basis100 has incredible talent and passion for what we have built and firmly believe as a global technology company, a premium is attributed to us because of our unique ability to transform," said Gary Bartholomew, CEO and chairman, Basis100. "We have made considerable changes to our U.S. operations in order to position the company for a significant move in the U.S. market. Basis100 has a tremendous talent pool in the United States that is directly in tune with the plans of this company. In moving forward, both Bryan and Liz will be focused on the products abilities and our customer's needs, enhancing the AVM to bring more value to the end-user."

About Basis100

Basis100 Inc is a global e-commerce technology solution provider for financial institutions, investment dealers and service providers enabling them to build, distribute, buy and sell their products and services in new ways. Basis100 is focused on loan origination and processing solutions, capital markets trading, settlement and clearing solutions and property data warehousing and analytics support. We have solutions installed in over 36 countries and 5 continents around the world. For more information about Basis100, visit www.Basis100.com.