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

To: Tom who wrote (84)	8/14/2001 5:13:37 PM
From: Tom	Respond to of 104

Basis100 Launches New Product - TitleBASE(TM) - Through Partnership With Optima is.com 08:45 GMT-04:00 Tuesday, August 14, 2001 TitleBASE will now be accessible via the Basis100 Web site, tying seamlessly into the automated valuation model (AVM) reports IRVINE, CA, Aug. 14 /CNW/ - Basis100 Inc. (BAS:TSE), an e-commerce technology solutions provider for the financial services industry, announced today the launch of the company's new product, TitleBASE, which is designed to simplify the lending process by offering title information reports electronically through the Basis100 U.S. Web site. The reports will be generated through Basis100's relationship with Optima is.com, providing full property-specific information. This offering is another important step to position Basis100 as the recognized leader in automated collateral assessment in the United States. The ordering process for Basis100's TitleBASE product is integrated with Basis100's AVM, providing access to both property valuations and title information with one mouse click. Users who log on to the Basis100 Web site to purchase property valuations will also have the option of proceeding through to the TitleBASE report. No additional login is necessary, and the information captured in the valuation report is pre-populated into the appropriate fields, requiring minimal data entry by the end-user. Both the TitleBASE product and the AVM reports will be available individually, providing flexibility in meeting the unique needs of any institution. "TitleBASE is a solution that offers lenders the ability to expedite the retrieval of required title information, without sacrificing accuracy and quality," said Owais Durrani, president, Basis100 U.S. division. "Through our partnership with Optima is.com, Basis100 is able to provide the lending community with title information that is at once cost-effective and complete." Many institutions are looking to replace traditional title products with more cost effective alternatives, and increasingly rely on title information reports for a variety of applications, particularly in equity lending and portfolio review. As this trend continues, the TitleBASE suite of products will provide institutions with property information tailored to specific business requirements, saving both time and money. The TitleBASE suite of products offers two industry standard reports including a Legal and Vesting report, which includes complete vesting information and a full legal description; and a Property Information report, which contains all the above information plus taxes, liens and judgments. In addition, clients will be able to customize reports according to intended use and specific information requirements. Additionally, information from the reports can be "scraped" directly into the loan system, as well as the loan documents by the end user, while maintaining the integrity of the information. This supports Basis100's objective in bringing functional and seamless offerings to the industry. "We are taking the industry in a whole new direction by developing these industry-class and user-friendly product offerings," said Gary Bartholomew, CEO and chairman, Basis100. "Success for Basis100 means bringing measurable value to our customers through technology. The TitleBASE product will move us closer to achieving the company's projected profitability plan by generating additional revenue-streams in the U.S. And since fees for our products are generated per transaction, tying TitleBASE to the AVM will potentially increase our revenues by 400 percent per transaction, while still saving money for our customers over traditional title insurance." Basis100 chose to partner with Optima is.com because of Optima is.com's outstanding customer service and quality of information provided. Optima is.com has taken consideration to include integral components of data, which makes utilizing this solution in lieu of title insurance possible. Moreover, the company's ability to transform a labor-intensive task and adapt to the fast-paced environment of the Internet, has set Optima apart from its competitors. "Basis100 is dedicated to providing quality products backed by superior customer service, which mirrors our operations - so it makes sense for us to partner," said Burt Campbell, CEO of Optima is.com. "We are committed to providing the most accurate property information, and by marrying our data with Basis100's intelligent technology we will be able to provide a more accessible and cost effective option to lenders." About Optima is.com Optima is.com, a subsidiary of Centex Corporation established in 1999, Optima is.com (http://www.optimais.com/) is based in Southern California and provides non-insurance reports of title on a nationwide basis. The principal focus at Optima is.com is to continuously improve the process of title data acquisition from the most cost-effective sources at performance levels that will match or surpass any national competitor. About Centex Corporation Dallas, Texas-based Centex Corporation (NYSE:CTX), through other subsidiaries, is one of the nation's largest homebuilders, non-bank-affiliated mortgage originators and commercial contractors. Centex also has operations in home services and investment real estate and owns a majority interest in a publicly held construction products company. About Basis100 Basis100 is a leading e-commerce technology solution provider for financial institutions and service providers enabling them to build, distribute, buy and sell their products and services in new ways. Basis100 is focused on the mortgage origination, consumer credit, fixed-income trading, automated property valuation and service vendor markets across North America and internationally. For more information about Basis100, visit www.Basis100.com. Forward-looking (safe harbor) statement Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes", "plans", "expects" or "intends" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

To: Tom who wrote (84)	8/27/2001 1:14:44 PM
From: Kevin G. O'Neill	Read Replies (1) \| Respond to of 104

Thanks Tom. That's a great article. I'm posting it in full here in case it winds up disappearing from the URL you gave and also for the convenience of others (assuming there are any). Best, -KGO ---- August 20, 2001 Investing Ahead of the game Software provider Basis100 beats expectations By ANDY HOLLOWAY More than a few eyebrows were raised when Basis100 Inc., the provider of e-commerce software for financial institutions (FIs), unveiled a one-year corporate scorecard at the start of 2001. After all, tech companies rarely meet expectations these days—and previous missed product releases, cranky investors and a general market slump had all conspired to cut the stock (TSE: BAS) down to size. Trading at about $25 in early 2000, Basis100 bottomed out last December at a paltry 82¢. But the unusual approach seems to be working. The Toronto-based firm has managed to meet or exceed its own revenue and product rollout expectations since the release of its quarter-by-quarter scorecard. Gary Bartholomew, chairman and CEO, says the list of accomplishments and goals was created to give investors and analysts some guidance and confidence. It also helped focus the firm on building out its core transaction fee-based platform, PowerBase. During its second quarter, Basis100 finally managed to commercialize its BasisXpress mortgage processing software, with the new BasisXchange fixed-income trading system ready to go this quarter. In June, the company added the only major Canadian FI it was missing as a customer, when Royal Bank of Canada signed to use its HomeBase mortgage technology. And the firm has also scored big in the US, signing some 1,070 customers to use its automated property valuation technology that was acquired from California tech firm Solimar.Net last year. As a result, in Q2, Basis100 achieved its first operating profit, one quarter ahead of schedule. It earned $100,000 on a record $7 million in revenue—and reduced operating expenses. The stock also rebounded, climbing to about $3.50 by the end of July. But there's still some more game to be played for those keeping score. Bartholomew says the firm is tracking ahead of its Q3 and Q4 projections, and he estimates revenue will grow 15% to 20% per quarter until the end of 2002, which would put annual revenue at about $50 million and cash earnings in the $8-million area. Basis100 is also now ready to hit up fixed-income traders through an equity position in CanDeal, whose shareholders are two tech companies and six FIs that control 80% of all such trading in Canada. CanDeal members will use BasisXchange as a trading mechanism, effectively freezing out potential competitors. Basis100 will also expand its major platforms: BasisXpress will become a complete consumer credit package; BasisXchange will add other asset classes such as commercial paper to its T-bills and government bonds trading capabilities. Still, investors should keep in mind that the company has failed to deliver the goods in the past. That led Joey Roa, an analyst at Lightyear Capital Inc., to initially give it a speculative buy rating, which he upgraded only after seeing its Q2 results. "It looks like they've turned the corner going toward profitability," he says. "Basis100 is the only company that has demonstrated that the transaction processing revenue model works." On the other hand, Roa doesn't expect the firm to be profitable until fiscal 2003 because of writedowns related to the $24-million acquisition of Solimar.Net (and the large start-up costs of PowerBase). Roa says wary investors should look for Basis100 to sign larger Canadian FIs to use BasisXpress (so far only small firms are using it) and to make some more headway in the US with the software. But while Basis100 is still a long way from winning the game, the right players seem to be signing on. If that continues, the scoreboard might just light up.