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FOR IMMEDIATE RELEASE

FOR MORE INFORMATION CONTACT:
Wayland Pond, VP-Sales and Marketing (703) 734-1133 ext. 110

Vienna, Virginia. (April 21, 2004) - VirPack, a leading provider of ePackaging, document management and imaging solutions for the mortgage industry, announces the release of VirPack Direct, a seamless electronic image loan delivery solution to support Countrywide Home Loans Correspondent Lending Division’s electronic loan delivery initiatives. VirPack Direct conforms to Countrywide’s electronic image loan delivery specification. Countrywide correspondents can now electronically deliver entire imaged loan files for purchase review. This will significantly reduce costs, shorten cycle times and improve overall process efficiency.

VirPack Direct, an easy to use delivery tool, is free to VirPack customers. Direct is integrated with VirPack’s scan capture and electronic document management systems. With VirPack Direct, users can capture only those loans they wish to deliver to Countrywide, or fully take advantage of VirPack’s imaging and document management capabilities to enhance their back-shop processes. Loans identified for delivery to Countrywide are immediately retrieved from the VirPack system, prepared and electronically delivered in a secure fashion.

"We believe that in order to gain broad adoption of imaged loan delivery to investors, correspondents, regardless of their size, need a cost effective solution for imaging and document management. VirPack’s unique transaction pricing model minimizes the up-front, start-up cost of imaging, while providing an electronic delivery capability. VirPack users have realized a reduction in cycle time from closing to investor delivery by up to 22 days and improved loan production on existing warehouse lines by 30%," said Michael Coar, President and CEO of VirPack.

"We have tested the deliveries from VirPack and can attest that they meet our specifications. We look forward to Countrywide Correspondents taking advantage of imaged loan delivery wherever possible. VirPack provides yet another validation that the capability is available, deployable and ready to implement. Imaged loan delivery allows Countrywide to better service correspondent’s needs, reduce costs and improve the loan purchasing process," said Donald Thomas, First Vice President of Information Systems at Countrywide.

About Countrywide Home Loans, Inc.
Founded in 1969, Countrywide Financial Corporation (NYSE: CFC) is a member of the S&P 500, Fortune 500 and Forbes 500. Countrywide, through its subsidiaries, provides mortgage banking and diversified financial services in domestic and international markets. Mortgage banking businesses include loan production and servicing principally through Countrywide Home Loans, Inc., which originates, purchases, securitizes, sells, and services primarily prime-quality loans. The company is headquartered in Calabasas, California and has more than 35,000 employees with over 600 offices. For more information about the company, visit Countrywide's Web site at www.countrywide.com.

About VirPack
Founded in 1995 and headquartered in Vienna, Virginia, VirPack is a leading technology provider offering ePackaging, document management and imaging solutions specifically designed for the mortgage industry. Its core technology, VirPack, is an electronic envelope that provides a standard way to package, manage and electronically deliver all data, electronic documents and images pertaining to the life cycle of a loan. By using VirPack throughout the mortgage process, clients bridge the gap between disparate systems, execute faster and reduce expenses.

For more information about VirPack, contact Wayland Pond, Vice President of Sales and Marketing, at (703) 734-1133 x110 or email wayland.pond@VirPack.com or visit our website at www.VirPack.com.

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