Press Release

Leading global outsourcing specialist Equinox Corporation and leading mortgage technology provider XL Dynamics partners to offer mortgage companies seamless transaction based global outsourcing model

Cerritos, California- January 15, 2004

As the US mortgage industry comes out of its 40 years of historically low interest rates and historically high volumes, mortgage companies are becoming increasingly focused on cost reduction, resource efficiency and clearing black-logs. The Equinox - XL Dynamics integrated platform provides lenders the ability to leverage low cost high quality global resources, 24x7 operations window and a state of the art workflow enabled Loan Processing & Closing Platform bundled into one transaction based model.

"This is revolutionary.", said Arin Brahma Executive Vice President of Equinox Corporation, "With this offering, the Mortgage industry for the first time will be able to tap into the benefits of global outsourcing seamlessly without having to give up control or quality. The model has been specifically designed to be so flexible and open that most companies will find this very attractive and easy to implement. With rich end-to-end functionality of the Mortgagesoft® platform Lenders can now seamlessly perform selective or end-to-end functions of loan processing using a combination of in-house and offshore resources".

Global outsourcing provides mortgage companies with skilled and efficient resources that are readily available on an as-needed basis, without the overhead expenses associated with employment. Equinox has proven this model to reduce costs by 40-60%, high process quality, 24x7 operation, faster turn around time, and upward and downward scalability to absorb fluctuations in business volume cost effectively.

Equinox is equipped with multiple state of the art operations centers in India connected to its US operations center in Irvine California through redundant high speed point to point fiber communication lines. "This modern infrastructure combined with web-based Mortgagesoft technology ensures that customer's data never leaves the state side and thus adhering to GLBA information confidentiality guidelines" said Pavan Agarwal, CEO of XL Dynamics. Mortgagesoft OnLine, the premier mortgage e-commerce system developed by XL Dynamics provides the Equinox Team and clients anytime, anywhere access to mortgage data. XL Dynamics has designed the system to be truly internet-based by enabling XML at the system's core.

Mortgagesoft OnLine is a comprehensive system offering simple and reliable solutions through event-based workflows. The system offers the only truly integrated solution for the entire end-to-end mortgage process. With Equinox providing support to its end users, the possibilities are unlimited.

About Equinox Corporation

Equinox is a member of The Chatterjee Group (TCG) family of companies. TCG is a multi-billion dollar investment group headquartered in New York, USA. The company's mission is to provide cost-effective, high quality business process outsourcing (BPO) services to the lending industry worldwide. Equinox is headquartered in Irvine, CA and their offshore operation center is located in Gurgaon, India near New Delhi.

Equinox Corporation Contact

Kathy Narvaez
kathyn@equinoxco.com
714-665-6262 (Ext. 278)
www.equinoxco.com

About XL Dynamics

XL Dynamics, Inc. is a complete end to end web-based loan origination and financial solution software provider for the mortgage and lending industry. XL Dynamic's Loan Origination System, MOL, automates integrated loan and mortgage processes, including qualifying, processing, underwriting, closing, secondary marketing, settlement, shipping and insuring. In addition to automating processes, XL Dynamics' solutions make it possible for enterprises and customers to work as a single unit and share this mortgage processing information over the Internet.

Founded in 1992 in Cerritos California, XL Dynamics is a US based, multinational corporation with design centers located in the US and India. For more information about XL Dynamics, visit the company's website at www.xldynamics.com or contact:

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