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September 10, 2003

Netupdate Appoints Kim Myles As Sales Director
--Industry veteran joins mortgage point-of-sale provider to lead sales team--

Bellevue, WA - Netupdate, Inc., a premier mortgage software services company, announced that Kim Myles has been named Sales Director. Myles brings more than 13 years of mortgage banking technology experience to the position, where she will manage the sales, customer support and professional services efforts for the Originator ProSM Mortgage Advisor Suite. Originator Pro is an integrated point-of-sale system that enables mortgage professionals to rapidly qualify, engage and approve borrowers more efficiently through the Internet vs. traditional loan origination software and disconnected Web sites.

Prior to joining Netupdate, Myles was national sales manager for Tualatin, Ore.-based SwiftView Inc.'s SwiftSend LoanDocs secure Web-based document delivery solution. She was responsible for hiring, training and directing the sales team. Myles has also successfully led sales initiatives for mortgage industry software leaders such as INTERLINQ Software (now Harland Financial) and Fiserv Lending Solutions. In addition, she was vice president of operations for NCNB Mortgage in Charlotte, N.C. (now Bank of America).

Netupdate CEO, Diane Holmstrom, said, “Kim’s track record of building revenue in both start-up environments and larger companies makes her well-qualified to drive the company's emergence as a dominant provider of leading-edge lending technologies. We look forward to her immediate contribution.”

About Netupdate

Netupdate, Inc. is a software services company providing solutions that enable people to work together online, significantly reducing the time, cost and complexity of mortgage industry transactions. Netupdate's tools extend mission-critical business applications onto the Internet, moving lenders from expensive, slow, paper-based transactions to efficient, integrated transactions. By allowing each person involved in the lending transaction to interactively share information and documents, and to communicate in a managed fashion, Netupdate solutions reduce transaction time, streamline back-office processes and provide improved borrower satisfaction. Headquartered in Bellevue, Wash., Netupdate is funded by Alexander Hutton Venture Partners, Greenstone Venture Partners, Irwin Ventures and Timberline Venture Partners.

For more information on Netupdate visit the company’s Web site at www.netupdate.com.

Contact:

Michael Korch
Marketing Manager, Netupdate, Inc.
Direct Line: (425) 605-2778
Fax: (425) 451-7882
michael.korch@netupdate.com

Charlyne McWilliams
Media contact for Netupdate, Inc.
Direct Line: (301) 933-5567

© 2003 Netupdate, Inc. All rights reserved. Netupdate, Originator Pro, Loanupdate and Netupdate.com are trademarks of Netupdate, Inc. All other marks are owned by their respective entities.