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FOR IMMEDIATE RELEASE

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

"VIRPACK ANNOUNCES SEAMLESS ELECTRONIC LOAN DELIVERY TO WELLS FARGO FUNDING"

Vienna, Virginia (October 23, 2005) - VirPack, a leading provider of electronic delivery, document management and imaging solutions for the mortgage industry, announces the enhancement of its seamless electronic image loan delivery solution, VirPack Direct, to support delivery to Wells Fargo Funding, Des Moines, IA. VirPack Direct conforms to Wells Fargo’s electronic image loan delivery specification and supports delivery for correspondent lending partners. Instead of mailing packages, correspondents can electronically deliver fully indexed loan files to Wells Fargo Funding for purchase review. This significantly reduces shipping costs, shortens cycle times and improves overall process efficiency.

VirPack Direct, an easy to use delivery tool, is free to VirPack customers. Direct is integrated with VirPack’s imaging solutions, which provide barcoding, scan capture and electronic document-management applications designed for the mortgage industry. Loans identified for delivery to Wells Fargo Funding are immediately retrieved from the VirPack system, prepared and electronically delivered in a secure fashion. VirPack’s imaging solutions can be installed and in production in as little as three days, with minimal upfront costs. VirPack customers will be notified that a free upgrade to VirPack Direct awaits them to support delivery to Wells Fargo Funding.

"We are pleased to be working with VirPack, an industry leader in electronic image loan delivery technology. This is a major step toward Wells Fargo's overall strategy of streamlining the delivery and loan purchase process for our clients. We have validated that deliveries from VirPack Direct meet Wells Fargo Image ExpressSM requirements, and are looking forward to helping our clients implement electronic delivery," said Eric P. Stoddard, Correspondent National Sales Manager, Wells Fargo Funding.

"VirPack is pleased to be the first to support delivery to Wells Fargo Image ExpressSM. VirPack Direct now offers correspondent sellers one-click electronic delivery of loans to Wells Fargo for purchase review. This relationship contributes to the ongoing revolution in cost savings and process efficiencies provided through electronic loan delivery. C0rrespondent lenders can use VirPack as a cost effective solution for imaging and document management, with the added benefit of electronic delivery to Wells Fargo," said Michael Coar, President and CEO of VirPack.

About Wells Fargo Funding
Wells Fargo Funding is the correspondent business line of Wells Fargo Home Mortgage, which is a division of Wells Fargo Bank, N.A. Wells Fargo Funding is the nation’s second largest correspondent lender. It has a client base of over 1,000 banks, thrifts and mortgage lenders in all 50 states. Wells Fargo Home Mortgage is the nation’s No. 1 retail mortgage lender and one of the country’s leading servicers of home mortgages. It operates the country’s largest mortgage network from more than 2,400 mortgage and Wells Fargo banking stores and the Internet. Based in Des Moines, Iowa, it services loans for over 5 million customers nationwide.

About VirPack
Founded in 1995 and headquartered in Vienna, Virginia, VirPack is a leading technology provider offering electronic loan delivery, 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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