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Non-Tech : BASIS100 BAS-TSE -- Ignore unavailable to you. Want to Upgrade?

To: Glen Abbey who wrote (64)	3/16/2000 8:50:00 PM
From: topstock	Read Replies (1) \| Respond to of 104

NEWS/PRESS RELEASE Basis100 responds to questions about stock activity Basis100's Mortgage Industry Solutions to Benefit From Microsoft Initiative TSE: BAS CUSIP No. : 070120 10 0 SHARES OUTSTANDING: 22,078,996 TORONTO, March 16 /CNW/ - Basis 100 Inc. (+Basis100+), an Internet-based e-commerce solutions provider, responds to requests by Dow Jones and others to explain today's price activity in Basis100 shares. +We see today's price movement as clearly related to the announcement, by Microsoft (Nasdaq NM: MSFT) and a few US mortgage lenders, of the creation of a new company that plans to focus on improving services in the real estate and mortgage lending industries,+ said Gary Bartholomew, Chairman and CEO of Basis100. +There was apparently some concern that the new technology spin-off might affect certain Basis100 business activities. On the contrary, we see the Microsoft move as an acknowledgement of opportunities that Basis100 identified in the North American mortgage market over a year ago. Basis100 has a clear leadership position in the B2B arena within Canada and is strategically building out across the entire US.+ Bartholomew continued, +The Microsoft move, which seems to be aimed primarily at consumers and real estate professionals, will help galvanize attention to wider-ranging Internet solutions where Basis100 has significant early-mover advantages. In addition to delivering Internet-based technology that automates end-to-end mortgage processes today, Basis100's flexible, independent platform ultimately will automate lenders' connections to the loan-pool securitization process and to fixed-income trading systems that serve institutional and retail investors in the US, Canadian, and overseas markets.+ Basis100 sees this universal end-to-end approach as the real key to bringing costs down for consumers since it harnesses the power of the Internet to extract value from B2B transactions in the e-commerce financial services marketplace worldwide. The Microsoft team also highlighted automated property valuation in their conference call this afternoon, stating that 65 percent of the home appraisal market will adopt this approach. Having purchased the leader in this space, Solimar.Net of California, Basis100 interprets this as yet another independent, third-party validation of its US strategy. Since 1997, our automated property valuation technology has been in use in a broad spectrum of applications - residential lending, wholesale processing, loan servicing, and securitization processing. Basis100 (www.basis100.com) is a leading provider of technology and solutions used in Internet-based mortgage origination, processing, and automated valuation. The company has focussed on creating mortgage, consumer credit, securitization, and fixed income electronic marketplaces for financial institutions, intermediaries, and service providers. Basis100's 2 Minute Mortgage Solution is channel agnostic, a technology built to service the entire mortgage industry, end-to-end. This company relies on litigation protection in respect to certain forward-looking information and statements. Such information and statements may involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the company and its customers. Actual results and developments may therefore differ materially from those described in this release. %SEDAR: 00002699E -30- For further information: Lorelei Luchkiw, Director of Investor Relations, Basis100, (416) 364-6085 Ext: 170, email: lluchkiw@basis100.com Regards, TOPSTOCK