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To: HandsOn who wrote (85763)	7/21/1999 12:02:00 PM
From: Harry_Behemoth	Respond to of 119973

VLDC news Wednesday July 21, 11:39 am Eastern Time Company Press Release Virtuallender.com, Inc. Clarifies Terms of Homesmart.com, Inc. Spin-off SAN MATEO, Calif.--(BUSINESS WIRE)--July 21, 1999-- Virtuallender.com, Inc. (OTCBB:VLDC - news) has announced that shareholders of record will be determined by the ''trade date'' of the purchase, not the ''settlement date.'' The record date remains July 23, 1999, and the distribution date will be announced in the next several days. Virtuallender.com, Inc. announced this week that it is spinning off its Homesmart.com, Inc. subsidiary to its shareholders as a separate public company. The distribution will be one share of Homesmart.com, Inc. for each Virtuallender.com, Inc. share owned. The company anticipates Homesmart.com, Inc. to commence trading within the next several weeks. The ''dividend'' date is July 23 for shareholders of record. Virtuallender.com, Inc. will retain one million shares of Homesmart.com. In conjunction with this spin-off, Virtuallender.com, Inc. has canceled 7.5 million VLDC shares issued to Homesmart.com. Virtuallender.com, Inc. benefits consumers by providing a faster, flexible and more complete online mortgage solution, avoiding the frustration, delays and costs of the traditional ''bricks and mortar'' mortgage business commonly used by consumers and Realtors. Among the company's current competitors are E-LOAN (NASDAQ:EELN - news), Mortgage.com, Inc., Finet.com, Inc. (NASDAQ:FNCM - news) and Rock Financial (NASDAQ:RCCK - news). Virtuallender.com, Inc. has established close ties with some of the nation's leading lenders such as Headlands (NASDAQ:HDLD - news), 1st Security Crosslands (NASDAQ:FFCO - news), World (NYSE:GDW - news), Dominion Resource/Saxon (NYSE:D - news), PCFS (NYSE:PFGI - news) and Downey Savings (NYSE:DSL - news). For more information on Virtuallender.com, Inc. visit virtuallender.com. Statements regarding financial matters in this press release other than historical facts are ''forward-looking statements'' within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. -------------------------------------------------------------------------------- Contact: Virtuallender.com Carol Pizzo, 650/578-6380 Ext.310 www.virtuallender.com --------------------------------------------------------------------------------