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(Sherman Oaks, CA, June 28, 2005) – Metrocities Mortgage, LLC, a leader in the national residential mortgage lending market, today announced the appointment of John W. Stewart as President, Strategic Initiatives. In this position, Stewart, who joins Metrocities from a leadership position with Countrywide Home Loans, will work in collaboration with Metrocities’ retail divisional presidents and senior executives in managing the company’s national strategic business development plan, including its Affiliated Business Arrangement (ABA) program.

A 16-year veteran of the mortgage industry, Stewart comes to Metrocities after serving as Managing Director of Strategic Business Development for Countrywide Home Loans. There, he was the chief architect in creating Countrywide’s strategic alliance strategy and was responsible for national strategic alliance initiatives, including mergers and acquisitions, joint ventures/affiliated business arrangements, marketing services agreements, space rental agreements and brokered-in agreements.

Stewart’s appointment marks his return to Metrocities Mortgage, a company he co-founded in 1989, where, acting as President, he helped to form the company’s Affiliated Business Arrangement joint venture program and was instrumental in developing the initial strategic plan for its growth. Prior to his work with Metrocities, he served as Vice President and Branch Manager of Coastline Financial Corporation and as a loan officer.

“We are very pleased to welcome John back to Metrocities Mortgage and are excited about the new growth he will help to lead,” explained Paul Wylie, CEO of Metrocities Mortgage. “For anyone who has charted John’s meteoric rise within the mortgage industry, it is very clear – he is expert in developing Affiliated Business Arrangements. As ABAs are the cornerstone of Metrocities’ business model, we look forward to his contributions in further building our successful, growing brand on a national basis.”

“I am very excited about my role at Metrocities,” added Stewart. “I am looking forward to contributing further to the growth of a company that puts its mortgage joint venture program at the center of its business model.”

Stewart’s appointment is the latest in a series of key management additions to support the ongoing national growth experienced at Metrocities Mortgage. In July 2004, Arthur D. Ringwald, formerly President and CEO of Ellie Mae and Bank of America’s Group Executive Vice President for Mortgages, joined Metrocities as President, Eastern Division; this was followed by the appointment of Richard Powers, previously President of KB Home Mortgage Company , as President for the Western Division in February 2005. Stewart’s appointment will help to create a platform from which the company can develop further national strategic growth.

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About Metrocities Mortgage

Established in 1989, Metrocities Mortgage is ranked in the top 1 percent of residential mortgage lenders nationwide for closed loan volume, closing over $6.3 billion* in 2004. Headquartered in Sherman Oaks, California, Metrocities Mortgage has become a leading nationwide lender based on unique loan programs and successful joint ventures (affiliated business arrangements) with key real estate companies, credit unions, financial advisor/business management companies, builders and other affinity groups. Loan Officers have access to over 7,000 loan programs and proprietary search engine technology enabling them to find the best loan products for their clients. As America’s Best Relationship Lender SM, Metrocities Mortgage is renowned for its in-house lending expertise, wide selection of loan programs and Heroic Customer Service ^SM.

*Includes Metrocities’ family of companies.