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March 12, 2002 CBC Companies and NetUPDATE Form Strategic Partnership Agreement Includes Cooperation in Technology, Sales and Marketing Redmond, Washington - CBC Companies, the leader in full service credit reporting, and NetUPDATE, Inc., a leading provider of collaborative commerce tools, today announced a technology, sales and marketing partnership agreement. Under the agreement, NetUPDATE has transferred ownership of the Byte TQS loan origination software technology to CBC Companies for an undisclosed amount. In addition, CBC Companies has also made a strategic equity investment in NetUPDATE. The agreement also outlines a cooperative sales and marketing partnership, where CBC products and services will be made available through NetUPDATE sales channels, and NetUPDATE's current and future products will be made available through CBC sales channels. "We went through considerable diligence in order to find the right partner in CBC Companies," says Tom Gonser, CEO of NetUPDATE. "Not only does CBC have a stellar reputation in the financial services industry, but NetUPDATE and CBC have complementary technologies and sales channels, and a similar vision for the future of collaborative commerce in the mortgage industry." "We are excited not only by what NetUPDATE provides today, but where they are going in the future, and the value these solutions will provide for our customers," notes William Price, CEO and President of CBC Companies. "NetUPDATE's software platform and tools streamline and accelerate the entire mortgage loan process by leveraging the Web to integrate disparate systems, people, services, communications and documents surrounding a mortgage loan. This will provide customers with even easier and more convenient access to CBC Services." About NetUPDATE, Inc. NetUPDATE (www.netupdate.com) creates software solutions that enable people to work together in ways that reduce time for complex business transactions from weeks, to days. NetUPDATE's collaborative tools extend mission-critical business applications onto the Internet, creating efficiency, without complexity, by moving customers from expensive, slow, paper-based transactions to streamlined, electronic transactions. By allowing each person involved in the transaction to interactively share information, documents, and communication in a managed fashion, NetUPDATE solutions reduce transaction time, streamline back-office processes, and provide improved customer satisfaction. NetUPDATE's flagship product for the mortgage industry is LoanUPDATEsm (www.loanupdate.com). NetUPDATE customers and partners include Countrywide, Flagstar, Fannie Mae, Freddie Mac, DEXMA, Onyx Software, Sollen and The Performance Group. Headquartered in Redmond, WA, NetUPDATE is funded by Alexander Hutton Venture Partners, CBC Companies, EFund LLC, Greenstone Venture Partners, Irwin Ventures, Onyx Software and Timberline Venture Partners. About CBC Companies CBC Companies (www.cbc-companies.com) is a unique full service credit reporting company operating a network of 70+ credit bureaus that are associated with national credit repositories. For more than 50 years CBC Companies has been providing turnkey solutions for the credit granting industry through credit reports, application processing, prescreened credit promotion lists, collection services for delinquent accounts, flood zone determination reports, and employment screening. Whether you are processing consumer loans, mortgage loans, apartment rental applications, interviewing potential employees, or reducing your outstanding delinquent accounts receivable, CBC Companies provides our customers with a wide range of products, using the latest technology and dedicated customer services to meet your requirements. Contact: Ellen M. Gonser NetUPDATE, Inc. Direct Line: (425) 605-2761 Wireless: (425) 503-4284 Fax: (425) 451-7882 ellen.gonser@netupdate.com