NetMore American, Inc. Secures $5.5 Million in Capital Investments

- Appoints Bill Prater Advisory Board Chairman -

NetMore America, Inc. (NetMore), a leading regional mortgage lender, announced today it has obtained a total of $5.5 million in funds to date, including $3 million in capital secured during June 2008. NetMore will use the funds obtained in June 2008 to strengthen its balance sheet and as equity capital needed to increase its permissible loan volume with its warehouse lenders.

During the month of June 2008, NetMore originated approximately $40 million in mortgage loans. The additional capital obtained by NetMore allows the company to continue to build out its retail and wholesale lending business. “Given the current trend, within three to six months, we estimate NetMore could be at $100 million to $120 million per month in loan origination volume,” stated Mark Freedle, President and CEO of NetMore. “While contingent on NetMore’s ability to generate or obtain additional equity capital, NetMore aims to originate as much as $1 billion per month in loan volume in the foreseeable future,” continued Mr. Freedle.

“We went from a startup to $40 million a month in loan originations in a six-month timeframe, while many other companies were closing around us. They have essentially left a space for us to grow into,” commented Mr. Freedle. “The mortgage industry is in turmoil, but we expect the turmoil to pass. We have a clean balance sheet with no subprime legacy issues. We started after the subprime meltdown and we currently have no bad loans on our books and a very experienced management team,” continued Mr. Freedle.

NetMore also announced the appointment of Bill Prater, managing partner of Northland Capital, LLC, to chair the informal advisory board of NetMore. Mr. Prater is the CEO of Leriot, LLC, a management and organizational development firm. Mr. Prater co-founded and served as CEO of an investment banking firm for 18 years, has been involved in improving stakeholder relations and profitability in over 80 companies, and has more than 30 years of experience in business development, finance, management, marketing, and sales.

“We’re excited to have someone of Bill’s experience and caliber joining our advisory board. His addition will help to ensure NetMore is on the right track to growth and productivity,” stated Mr. Freedle.

On joining the NetMore advisory board, Mr. Prater commented, “Many players in the mortgage industry made outrageous mistakes over the past few years, and are making mistakes for the future by getting out of the industry. I see this company as positioned extremely well to take advantage of others’ mistakes. And I am particularly attracted to their strong and experienced management team.”

About NetMore America

NetMore America is a retail and wholesale mortgage lender founded in July 2006. NetMore’s product line is 60% FHA and 40% agency and Fannie Mae- and Freddie Mac-backed loans. NetMore is based in Walla Walla, Washington and has an operations center in Clackamas, Oregon.
'Safe Harbor' Statement under the Private Securities Litigation Reform Act of 1995: The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, the results of capital raising efforts, conditions in the residential lending market, regulatory changes pertaining to the mortgage industry, interest rates, general trends in the housing markets, the impact of competition, and other risks. NetMore undertakes no obligation and has no intention of updating forward-looking statements.