The addition of Countrywide Bank to the Countrywide® family of companies enables the corporation to capitalize on synergies with our mortgage banking affiliate and other affiliates and subsidiaries. We now have the ability to expand our home-equity line of credit, fixed-rate second mortgage and adjustable rate mortgage businesses as demand for fixed-rate 30-year mortgages declines. Consumers are also able to access highly competitive rates on certificates of deposit, money market and individual retirement accounts, due to our extremely low overhead.

Looking forward, we plan to establish affinity relationships with various financial institutions, provide escrow accounts for other mortgage companies and warehouse lines of credit for new loans. Ultimately, Countrywide Bank is an innovation within an innovation.

By leveraging the power of the Internet, we are re-defining the very nature of what it is to be a bank. And by expanding Countrywide into the banking sector, we continue to bring fresh perspectives to a name that's long been known for new ideas in financial services.