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FOR IMMEDIATE RELEASE

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

Vienna, Virginia. (September 10, 2004) - VirPack, a leading provider of ePackaging, eDelivery, document management and imaging solutions for the mortgage industry, is pleased to announce that Fairmont Funding, Ltd., New York, NY recently selected VirPack as the company’s document imaging and management provider.

With VirPack, users can create a virtual loan folder that contains data, documents, images and other business critical objects all stored in their original formats. The software significantly reduces document management costs, shortens cycle times and improves overall process efficiencies.

Fairmont Funding is the first VirPack client to utilize VirPack Direct, a seamless electronic image loan delivery solution to support multiple Secondary Market Correspondent electronic loan delivery initiatives. VirPack Direct is integrated with VirPack’s scan capture and electronic document management systems and conforms to major secondary market investors' electronic image loan delivery specifications.

"By selecting VirPack as our document management and imaging partner, we implemented a proven system that provides immediate cost savings and process improvements to our mortgage operations. In addition, we are thrilled to be the first seller to one of our Major secondary market investors to perform seamless, electronic image loan delivery using the VirPack Direct delivery tool. We look forward to utilizing the VirPack system in moving to a completely paperless environment," said Mordy Husarsky, Managing Director of Fairmont Funding Correspondent Services.

"VirPack prides itself on providing a robust, easy-to-use document management and imaging platform with minimal upfront costs. Fairmont Funding not only enjoys the traditional benefits of a document management and imaging platform, but takes advantage of VirPack’s cutting edge ePackaging and eDelivery solutions to many of their investors and business partners," said Wayland Pond, Vice President of Sales and Marketing of VirPack.

About Fairmont Funding, Ltd.
Fairmont Funding, LTD. is a licensed mortgage banker established in 1983. The company is headquartered in New York and has 22 branch offices in 14 states. Fairmont offers all types of residential and commercial loans, including first and second mortgages, commercial and construction loans, numerous specialty financing programs (Including ALT-A), and foreign national programs.

In addition to lending, Fairmont through its Correspondent Services Division headed by Mordy Husarsky, has recently entered the market for whole loan purchase and private label back office services to community banks throughout the 50 states.

For more information about Fairmont Correspondent Services, contact Mordy Husarsky, Managing Director, at (718) 360-2895 or e-mail mordy@fairmontfunding.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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