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Technology Stocks : E Loan Inc -EELN -- Ignore unavailable to you. Want to Upgrade?

To: Bipin Prasad who wrote (743)	10/6/1999 9:19:00 AM
From: Capt	Respond to of 817

Providian Financial Forges Strategic Credit Card Partnership With E-LOAN SAN FRANCISCO, Oct. 6 /PRNewswire/ -- Providian Financial Corporation (NYSE: PVN - news) and E-LOAN (Nasdaq: EELN - news) today announced that they have formed a strategic partnership in which Providian's leading Internet credit card, Aria, will be the exclusive credit card available on E-LOAN's Web site. This alliance continues to broaden E-LOAN's expanding product portfolio of consumer debt products and positions Providian for enhanced growth and profitability. Consumers who visit the E-LOAN web site (www.eloan.com) need only to point and click in order to begin the instant approval process for Aria VISA. ''Adding the Aria credit card to our growing selection of financial products brings us even closer to our vision of fulfilling all consumer debt needs online,'' said Chris Larsen, E-LOAN's CEO. ''Aria is the ideal product for our credit card offering because of the strong potential it has to meet the needs of virtually all of the customers who visit our site, which currently exceeds 10 million annually. And it's backed by a reputation for delivering what today's Internet-savvy customer is looking for: speed, convenience, and value.'' Providian launched Aria VISA (www.aria.com) in May of this year, complete with one of the lowest introductory APRs on the Web, an instant approval process that takes less than 20 seconds, online balance transfers and customer service, and one of the Internet's most comprehensive rewards programs. Based on a customer's profile, Aria determines which of its product offers will best satisfy a customer and delivers it with customized terms. By meeting the credit card needs of a broad customer population, Aria has distinguished itself as having one of the highest approval rates on the Web. ''Partnering with a leading Internet company like E-LOAN helps to ensure that Aria holds its position as one of the country's leading online credit cards,'' said Greg Pacheco, Providian Senior Vice President and Aria Business Manager. ''By selectively choosing partners who share a commitment to customer satisfaction, we are helping to build new platforms for profitable growth and enhanced shareholder value.'' About Providian Financial San Francisco-based Providian Financial Corporation (www.providian.com) is a leading provider of lending and deposit products to customers nationwide and now offers credit cards in the United Kingdom. Providian serves a broad, diversified market with loan products that include credit cards, home equity loans, secured cards and membership services. With $18 billion in assets under management and over 10 million customers, Providian is committed to providing 100% customer satisfaction. Providian is the sixth largest bankcard issuer in the nation. About E-LOAN, Inc. Founded in 1996, E-LOAN, Inc., the leading online lending company, launched its online mortgage operations in the United States in June 1997 and added car loans, credit cards and small business loans to its product line in September 1999. At www.eloan.com, borrowers can compare, apply for and obtain loans from many nationally recognized lenders. After closing a loan, E-LOAN, Inc. can, at the customer's request, continue to send customized information about new products that become available, helping consumers manage their debt to lower their overall cost of capital. E-LOAN, Inc. has strategic partnerships with Yahoo!, E*TRADE, Wingspanbank.com, Kelley Blue Book, AutoTrader.com and Car & Driver Online. The company's loan processing center is located in Dublin, CA. E-LOAN, Inc. is publicly traded on the Nasdaq system under the symbol EELN