Leading online financial services company will implement state-of-the-art economic capital analytics and risk-adjusted performance metrics

New York, New York, March 10, 2004 -- ERisk, the leading developer of software solutions that help banks enhance performance through better risk and capital management, today announced that NetBank, Inc. (Nasdaq: NTBK), parent company of the country's first commercially successful Internet bank, NetBank (www.netbank.com), has licensed its Abacus software solution.

"ERisk's software fits our strategy of using the best tools to be leading-edge and proactive in managing our capital," said Ted Brauch, Chief Risk Executive, NetBank, Inc. "The software will bring us a comprehensive risk-based economic capital and Risk-Adjusted Return on Capital (RAROC) framework without significant investment of internal staff or disruption of business. It will also allow us to identify where the company's risk is generated -- by risk type and line of business -- and allow our executive management to allocate capital to reflect the risks of their businesses more effectively."

Over the next three months, NetBank will work with ERisk's implementation experts to deploy Abacus and to rollout the software's advanced risk and capital analysis capabilities. ERisk's Abacus is the first complete, integrated enterprise risk management software solution designed to improve banks' understanding of the link between risk and capital by providing crucial insights regarding capital adequacy, capital consumption, risk-adjusted profitability and shareholder value.

"We're delighted to be working with the NetBank team, and we look forward to having them as part of our large, fast-growing community of Abacus users," stated Peter Nakada, EVP and Head of Consulting at ERisk. "In a very short time, we expect NetBank to have access to models and technology that will support them in a wide range of strategic decision making. Our implementation experts are already at work making certain that NetBank meets its objective of having a faster and more accurate means of analyzing and communicating their capital management information."
 

About ERisk
ERisk's enterprise risk management software and consulting solutions set the industry standard for economic capital analytics. Our mission is to help financial services organizations, property & casualty insurers, and non-financial corporations transform their risk management processes to increase management effectiveness, reduce losses and increase shareholder value. For more information about all ERisk's offerings, please visit the ERisk website at www.erisk.com.

About NetBank, Inc.
NetBank, Inc. (Nasdaq: NTBK) operates with a revolutionary business model through a diverse group of complementary financial services businesses that leverage technology for more efficient and cost effective delivery of services. Its major subsidiaries include NetBank (www.netbank.com), the country's first commercially successful Internet bank; RBMG, Inc., a wholesale mortgage lender that generates residential mortgages through a nationwide network of independent brokers and correspondent lenders; Market Street Mortgage Corporation, a retail residential mortgage lender that conducts business in 39 states; Meritage Mortgage Corporation, a wholesale mortgage lender that originates non-conforming residential mortgages through a nationwide network of independent brokers; Republic Leasing Company, Inc., a wholesale originator and servicer of commercial business equipment leases; NetInsurance, Inc. (formerly known as RBMG Insurance Services, Inc.), an online insurance agency representing some of the nation's leading insurance companies; and NetBank Payment Systems, Inc., a provider of ATM and merchant processing services to small institutions and non-bank retail businesses. NetBank is a Member FDIC. NetBank, RBMG, Market Street Mortgage and Meritage are Equal Housing Lenders.

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Press Contact:

Tony Marcos
Director of Marketing
ERisk
(917) 522-1619
tmarcos@erisk.com

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