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E-LOAN Responds to Investor Inquiries Referencing Recent Press Releases

DUBLIN, Calif., Aug. 23 /PRNewswire/ -- E-LOAN, Inc. (Nasdaq: EELN), a leading online lending company, is aware of recent press releases regarding the filing of class action lawsuits against the company and others alleging violations of the federal securities laws. The company believes that the allegations against it are without merit. The company has not yet been served with any complaints. If served, the company plans to vigorously defend itself against any claims, and believes that the amount of time and money to do so would not be material.

MortgageDaily.com
About E-LOAN, Inc.
E-LOAN, Inc., a leading online lending company, offers consumer loans and debt management services online at www.eloan.com. E-LOAN has reinvented the consumer loan process by offering a broad choice of products from many lenders for mortgages, home equity loans, auto loans, education loans, credit cards and small business loans in a secure online environment, combined with comprehensive personal service from dedicated loan consultants. Through the second quarter of 2001, E-LOAN originated over $5.5 billion in consumer loans. The company's loan processing centers are located in Dublin, CA and Jacksonville, FL. E-LOAN, Inc. is publicly traded on the Nasdaq system under the symbol EELN.

This news release contains forward-looking statements based on current expectations that involve risks and uncertainties. E-LOAN's actual results may differ from the results described in the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, general conditions in the mortgage and auto industries, interest rate fluctuations, and the impact of competitive products. These and other risk factors are detailed in E-LOAN's periodic filings with the Securities and Exchange Commission.

CONTACT:
Tiffany Kelley, Investor & Public Relations of E-LOAN, Inc.
925.560.2614
[email protected]

SOURCE:
E-LOAN, Inc.
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