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Technology Stocks : NextCard, Inc. (NXCD) -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (75)	10/20/1999 3:30:00 PM
From: KS	Respond to of 192

October 20, 1999 15:14 Advanta Announces an Internet Marketing Agreement With Nextcard Internet Visa SPRING HOUSE, Pa.--(BUSINESS WIRE)--Oct. 20, 1999--Advanta Corporation (NASDAQ:ADVNA;ADVNB), a highly focused financial services company, announced today an online marketing agreement with NextCard (NASDAQ:NXCD), creator of the First True Internet Visa. Under the terms of the agreement, Advanta will be the preferred provider of non-conforming mortgage products to NextCard's online applicants (www.nextcard.com). Advanta has historically engaged in providing virtual financial services and banking by mail and telephone and is presently expanding its Internet presence. "This agreement with NextCard is an important step in broadening Advanta's Internet initiatives and building on our historically strong position in the world of virtual financial services," said Mark Wlaz, Senior Vice President of Marketing for Advanta Mortgage. "We look forward to the opportunity to provide innovative products and services to the growing number of online customers with mortgage and other home equity credit needs." Wlaz added: "Collaborating with NextCard is an ideal business opportunity for Advanta and we're excited about the potential to better serve each other's respective target markets including, for Advanta, the small business market." "By partnering with Advanta, NextCard extends its ability to give consumers control and choice over their personal financial decisions, and helps lower the costs and inefficiencies associated with finding mortgage services the old-fashioned way," said Dan Springer, Chief Marketing Officer of NextCard. "The agreement continues to expand the value and range of financial options available for NextCard consumers." Under this agreement, Advanta and NextCard will combine their marketing expertise to identify consumers most interested in non-conforming mortgage products. NextCard's online applicants will be able to access Advanta's full portfolio of mortgage products including first mortgages and lines of credit. Advanta (http://www.advanta.com) is a highly focused financial services company with over 2,400 employees, over $12.4 billion in managed assets and approximately $9.4 billion in assets serviced for third parties. Advanta provides consumers and small businesses with innovative products and services including mortgages, equipment leases, business credit cards, insurance and deposit products. The Company also provides a full range of loan purchasing, contract servicing and securitization services to the mortgage industry. NextCard, Inc. (http://www.nextcard.com), creator of The First True Internet Visa in 1997, is considered the industry's leading issuer of consumer credit on the Internet. The Company has continued to innovate with its complete GoShopping!(SM) Web site, NextCard Concierge(SM), comprehensive rewards, personalized PictureCard(SM) design and world-class online customer service. NextCard also publishes the NextCard eCommerce Index(SM), the premier source of online transaction activity and was named a "HOT 100 Company" by Upside magazine and one of "The Standard 100" most important and influential companies in the Internet economy by The Industry Standard magazine. This Press Release contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Risks that may affect the future performance of Advanta and NextCard are detailed in their respective filings with the Securities and Exchange Commission, including the most recent Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. NextCard is a registered trademark of NextCard, Inc. CONTACT: Advanta David Weinstock, 215/444.5335 dweinstock@advanta.com or NextCard Michelle DesMarais 415/836.9792 michelle.desmarais@nextcard.com