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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (80018)	2/29/2000 8:52:00 AM
From: Mr. Fortune	Respond to of 108040

Some AFFI news.. (BSNS WIRE) Affinity Technology Group Receives Notice of Patent Allowanc Affinity Technology Group Receives Notice of Patent Allowance for Electronic Real-Time System for Establishing a Financial Account Business & Technology Editors COLUMBIA, S.C.--(BUSINESS WIRE)--Feb. 29, 2000--Affinity Technology Group, Inc. (Nasdaq: AFFI) today announced that the company has received a notice of allowance from the U.S. Patent and Trademark Office for issuance of a U.S. patent pertaining to a system for real-time establishment of a financial account over a computer network without any human intervention other than by the applicant. Upon issuance, the new patent will provide proprietary rights covering fully automated establishment of financial accounts, including credit accounts, through a remote interface connected to a data processing system through a communications network which will verify the applicant's identity and process the transaction in real time without human intervention. "We believe that this patent will be a valuable asset to our patent portfolio. Consumers are demanding the convenience of online access to financial services including the establishment of financial accounts. We anticipate that this patent, once issued, will provide us with additional licensing opportunities," said Joe Boyle, Affinity's President and Chief Executive Officer. Affinity also announced that it is currently in a reexamination proceeding with the U.S. Patent and Trademark Office for its previously issued fully automated lending patent (U.S. Patent Number 5,870,721). Affinity anticipates the reexamination will likely continue for several months and could result in the patent being upheld or a loss or limitation of the previously issued claims. Boyle also commented, "We have been informed by our patent counsel that a reexamination is not uncommon given the scope of our previously issued patent. We intend to vigorously defend our first patent as well as continue to seek additional patent protection." Affinity's patent portfolio currently consists of two patents covering automated lending and one patent covering the issuance of insurance from a kiosk. The patent covering the automated establishment of financial accounts is expected to issue in the next few months. Affinity's technology enables financial institutions to link their branches, call centers, Internet customers, and indirect agents electronically to their credit departments, providing fully automated lending - and, if necessary, connectivity to a loan officer - through every channel. For financial institutions, Affinity's solutions expedite loan decisioning and processing and increase productivity and capacity of branch personnel, call center agents, loan officers, and indirect agents, while improving the overall customer experience. Affinity is located on the World Wide Web at www.affi.net. Forward-looking statements in this news release, including statements regarding the Company's patents, both those granted and pending, opportunities to earn patent license revenues, and the coverage of any patents that have been or may be issued to the Company, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties, including those related to the proprietary and other rights of third parties who may challenge the Company's patents, general economic conditions, delays and risks associated with the development of new technologies, consumer and industry acceptance of automated delivery channels, and regulatory risks, that may cause actual results to differ materially from those projected. Further, although the U.S. Patent and Trademark Office has issued certain patents and a notice of allowance for certain claims covered by the Company's patent applications, such action is subject to challenge by third parties, and no assurance can be given that the U.S. Patent and Trademark Office will issue additional patents to the Company, or that any such patents will have any commercial value. NOTE TO INVESTORS AND EDITORS: Affinity's press releases are available on the Internet through Business Wire's web site at businesswire.com. The releases are also available at no extra charge through Business Wire's Company News-On-Demand fax service at 1-800-340-7544.