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E-LOAN New Zealand Enters Second Phase:

E-LOAN New Zealand Enters Second Phase: Live Chat Interactivity, WAP Access, Additional Lenders

E-LOAN New Zealand today announces a new phase of developments to its online home loan service, including a function allowing consumers to 'chat' live with an E-LOAN Consultant while at the website - Also added are the ability to access the site with WAP* hardware, and home loan products from six additional new lenders, bringing the total number of lenders offering loans through E-LOAN New Zealand to 24.

Live Chat Consumers can now access personal help in real-time from an expert loan consultant while applying for a home loan online, using E-LOAN's Live Chat facility.

E-LOAN CEO Bruce Gordon says while consumers love the convenience of applying for a loan online, many people still like somebody to help them through the loan application process.

"It's important to us to give people personalised and instant attention. Live Chat allows customers to have an impartial, experienced home loan expert at their fingertips, and interact directly with that person - rather than waiting for a reply to an email inquiry, or getting prefabricated responses to their questions, which can be frustrating for customers."

Specialised software, called LivePerson, enables customers to 'text-chat' live with an E-LOAN Consultant while they are at the E-LOAN website to ask questions, receive personal information on loans, or get help completing their application. The Consultants can guide consumers through the website on their own screen, help them use the loan calculators, or simply chat with the customer about their needs.

"This gives customers all the benefits of personal service as well as the convenience of shopping for a home loan on the Internet. The live chat function is especially important for customers who want personal help but only have one phone line, so can't call our 0800 number while online."

Mr Gordon says E-LOAN is the only online financial services provider using LivePerson in New Zealand.

WAP Customers with a WAP-enabled device can now view a text version of the website by dialling Key information from the E-LOAN website including three loan calculators and a comprehensive glossary to demystify loan jargon are included in the WAP version.

Mr Gordon says although WAP is still in early stages of introduction here, it will offer real benefits.

"For example, if a customer sees a house they like in a Real Estate Agent's window, with a WAP cellphone they can check their ability to buy that house instantly using the E-LOAN calculator, and then call the E-LOAN 0800 number to apply for the loan straight away."

It's important to E-LOAN that consumers can receive impartial information on a wide range of home loan products in the way they find most convenient, says Mr Gordon. Providing services through WAP is another way that we can ensure maximum access to the service.

New lenders A further development to E-LOAN New Zealand is the addition of six new lenders offering their products through

Mr Gordon says the inclusion of these key regional and specialist lenders means consumers now have an even wider choice of loan products through the free and impartial service provided by E-LOAN. Apart from Wairarapa Building Society, the new lenders are based in Auckland, but all offer loans to customers nation-wide. Details for all lenders are available at

The new lenders are: * BridgeCorp * Gem Home Loans * Invincible Life Assurance * Member Focus * Silver Fern Group * Wairarapa Building Society.

A new type of product is also available through Invincible Life Assurance, which offers a retirement product, reverse annuity home loans.

Of the 24 lenders now offering loans through, any that have special offers available at any time will now be featured in a new section of the website. Consumers can view all special offers currently available from any lenders (for example, a free gift with a new mortgage or reduced application fees) by going to the special offer page.

Mr Gordon says E-LOAN is about empowering consumers, offering them maximum choice in home loans and making it easy to find the right loan for their situation.

"Making this service available through the Internet and WAP as well as through our 0800 number ensures we are accessible to as many customers as possible. We're also delighted to be providing hundreds of loan products for consumers to choose from."

Applications being received through continue to be of a high quality, Mr Gordon says.

E-LOAN New Zealand launched its website in June and to date has received over 250 home loan applications.

- ENDS -

For further information contact: Bruce Gordon CEO, E-LOAN ph 09 359 5056

0800 ELOAN NZ (0800 356 266)

Communications contact: Leigh Strange ph 04 499 9111


E-LOAN New Zealand

* E-LOAN New Zealand is a home loan service that enables people to make online comparisons of a wide range of loans from 24 different lenders. Customers can select the loan that suits them best and then apply for it over the Internet or by phone. The E-LOAN service is safe, secure, impartial - and free. * E-LOAN New Zealand operates 24 hours a day, seven days a week and customers are able to process their loans at any time. Customers can apply online or over the phone. E-LOAN New Zealand Consultants are experienced and expert financial consultants. * E-LOAN makes money by receiving a commission on each loan that is placed with a lender through the E-LOAN New Zealand website. PricewaterhouseCoopers independently accredits that neither E-TRACK, nor the E-LOAN Consultants know the commissions received by E-LOAN from individual lenders, to ensure impartiality. * E-LOAN New Zealand Ltd is a stand-alone entity in New Zealand, 50% owned by eVentures New Zealand and 50% owned by E-LOAN Incorporated.

* eVentures New Zealand is 64% owned by eVentures Inc (a partnership between SOFTBANK and epartners), 16% owned by Sky Television founder Craig Heatley, 6% owned by corporate shareholders and 15% owned by public shareholders.

The people behind E-LOAN Bruce Gordon is the chief executive officer of E-LOAN New Zealand. Bruce has a proven background in business development, a real commitment to consumers and an acute knowledge of the banking and financial services industries. He has a solid grounding in operational customer-focused banking and is an expert in electronic applications in banking services, and in business development. Prior to joining E-LOAN Bruce was chief executive officer of Farmers' Financial Services, New Zealand's largest consumer finance and card company. In this role he made significant changes to the company which greatly improved its performance. His achievements included launching the Farmers' Home Loan Service. In previous roles with the Bank of New Zealand and ASB Bank, Bruce has worked to bring to market leading electronic banking facilities such as Telephone Banking, Secure Internet Payments and EFTPOS. E-LOAN's other senior managers are Katherine Dewar (Marketing Manager), Don Morgan (Service and Sales Manager) and Kieren Cooney (Online Manager).

<> . . . . . . . . . . . . . Leigh Strange Sweeney Vesty Ltd ph 64 4 499 9111

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