Leading Loan Sale Advisor To Expand Services

BOSTON, MA (April 24, 2002) -- DebtX, the largest dedicated loan sale advisor for commercial debt, announced today that its wholly owned subsidiary, DebtX Securities, Inc., has been granted membership by the National Association of Securities Dealers (NASD) as a registered broker-dealer.

The license enables DebtX Securities to tranche large loans to match investors' specific credit and yield requirements. Additionally, a broker-dealer license will allow DebtX to meet the growing demand for interest-only strips and mezzanine loans.

"A broker-dealer license will help DebtX expand and improve its scope of services to secondary market buyers and sellers," said DebtX CEO Kingsley Greenland. "As a broker-dealer, we can help sellers market smaller tranches to meet specific investor criteria, thus increasing the proceeds to sellers. This milestone is part of our larger strategy to enable financial institutions to create liquidity through active portfolio management."

DebtX"'s broker-dealer is one of a series of initiatives the company has executed in the past three months. While continuing to grow its commercial real estate loan business, DebtX has also begun offering residential loan pools for institutional sellers. DebtX recently handled the sale of NextBank"'s credit card portfolio.