DataTrac, PR Newswire, IDC Financial Publishing Launch RateNet

11,000 banks, savings and loans and credit unions nationwide are monitored and 
ranked daily, making RateNet the largest index of financial institutions on the Internet 

Some Web sites are more hype than help. Others are so powerful in combining of technolgy and information they are inspiring. Launching this week, Rate.net^TM is on the inspiring end of the spectrum. Rate.net lets users visit thousands of banks without leaving the driveway. Mortgage, auto, credit card, money market and deposit rates are monitored and ranked daily for over 11,000 banks, savings and loans and credit unions nationwide. Rate.net is the only ranking service in the industry monitoring both interest rate performance and financial stability. Rate.net is the largest index of financial institutions on the internet. Over 3 million rates are updated annually.. The site, which includes over 500,000 easily navigated pages, is located at http://www.rate.net. RateNet is an interactive, real-time network connecting consumers with financial institutions on the internet. 

Current and historical interest rate trends are graphically illustrated for 175 markets across America. There are 116 "RateNet Indices" available tracking interest rate movement for various products (mortgages, CDs, credit cards, etc.) and several institution types including banks, credit unions and the top 100 largest institutions.

Daily reports providing the "Top Ten" best rates in every major market are available to RateNet visitors for free. "Financial Reviews" supply an in-depth evaluation of an institution's overall financial health and assign a "Quality Ranking" based on financial performance. RateNet also awards its "Best Rates Award" to all institutions who have rates and a Quality Ranking above average in their market. Financial industry and company news is updated and available daily on the site by PR Newswire, the premier news service in the industry.

"One third of all mortgages and auto loans will be internet-based by 2005" according to a new study by Killen & Associates, a Palo Alto, California consulting firm with customers including Microsoft, Intuit, Bank of America and Charles Schwab. RateNet, with its slogan "Your Financial Connection," links you to home pages of thousands of banking sites. The site even allows you to communicate directly with financial institutions regarding financial institutions regarding loan applications, investment opportunities and product information without picking up the phone or visiting your banker. Getting your next loan on the internet might be sooner than you think.

According to Ken Wanek, president and founder of DataTrac Corporation, "Automated teller machines (ATMs) brought banking into the neighborhood; RateNet brings banking into your home."

RateNet's databases are published and maintained by DataTrac Corporation, a privately held company located in Milwaukee, Wisconsin. In addition to conducting objective market research, DataTrac is a database management company and Internet Service Provider (ISP) hosting web pages for the banking industry. With over 1,000 corporate customers nationwide, DataTrac has been a resource to banks savings & loans and credit unions since 1988.

DataTrac's Partner, IDC Financial Publishing, provides RateNet with individual and peer group financial evaluations. Comparisons are based on reports filed by the banking industry wire regulatory agencies. For over 12 year, IDC has analyzed and compared over 30,000 institutions.

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