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Lowes Mortgage(TM), America's Premier Online Lender(TM) Announces Today the Addition of 9 New State Banking Licenses

Lowes Mortgage™, America’s Premier Online Lender™ (http://www.lowesmortgage.com), announced today the addition of new banking licenses in Alaska, Colorado, Connecticut, Maine, Maryland, Minnesota, Mississippi, Nebraska and Tennessee. With the addition of these states Lowes Mortgage is sure to gain market share through their advertising and referrals.

Lowes Mortgage is committed to each of these states and has plans to widely distribute their website for everyone in need of home loan rates. Lowes Mortgage uses proprietary technology to empower its customers to search hundreds of rates, products and closing costs in real-time, providing results in seconds 24/7. This allows borrowers to get an instant online loan outside normal business hours.

State banking and finance departments require that all mortgage companies go through an exhaustive application process to ensure the company's credibility and to protect their state's borrowers. The “barriers to entry” as it is called, requires mortgage companies to provide; personal and company financial records, finger printing, FBI background checks, Surety Bonds, Fidelity Bonds, Application fees, net worth minimums and submit to state periodic audits to be approved as a mortgage company. This process can take from 3 months to 1 year.

“I’m excited to see Lowes Mortgage enter into these new markets," said Charlton Guess, Executive Vice President. “Every borrower in these states will find our website, http://www.lowesmortgage.com, exhilarating and a true pleasure to refer to their friends and family.”

Since the initial release of lowesmortgage.com, Lowes Mortgage has received hundreds of calls from borrowers that are looking for low cost home loans in states Lowes Mortgage is not yet approved. Eager to get the low rates and closing costs that Lowes Mortgage offers, these borrowers will be happy to see Lowes Mortgage rapidly expanding into new markets.

“We’ve received an immediate increase in business,” said R. T. McGarty, Chief Financial Officer. “Adding these states further diversifies and confirms our commitment to be in all fifty states by the end of 2006.”

About Lowes Mortgage

Lowe’s Mortgage has revolutionized the way mortgage borrowers search for rates and closing costs. Now borrowers can compare every mortgage company’s rates and closing costs to Lowe’s Mortgage. The website http://www.lowesmortgage.com is rapidly becoming the bellwether for mortgage rates and closing costs.

Lowes Mortgage is one of America’s fastest growing online mortgage companies. It differentiates itself from other mortgage companies through its state-of-the-art mortgage pricing technology and its extremely low rates and closing costs.

Distributed by Market Wire