For Immediate Release
Monday, March 6, 2000

Contact: Stacy Miles
V-Tek Systems Corporation
909-396-5355; smiles@v-tek.com

V-Tek Systems Corporation, a software development and system integration company, today announced the successful implementation of SL DataMart at Bank of America. According to Kathy Cannon, Senior Vice President of Bank of America's Educational Lending, the new system will consolidate the bank's $3 billion student loan portfolio spread across its many servicers for reporting and data inquiry purposes. "The management of our student loan portfolio is performed by ten different servicers," says Ms. Cannon. "Each servicer delivers financial and status information to us on a monthly basis in their own very individual way. Until now, we only had a servicer-by-servicer view of what was happening with our loans, not the total and complete picture."

SL DataMart solves this loan servicing data dilemma by taking month-end data feeds from Bank of America's loan servicers and merging them into a single database. The merging process requires that the data from each servicer be mapped into a standard format before processing to the SL DataMart database. "Part of the problem has always been that every servicer had a unique data structure for student loan accounts," says Rick Knapp, the architect of the system. "We use a combination of Oracle data mart tools and our own proprietary mapping technology to create a consistent structure across servicers."

Once the monthly feeds are loaded to the system, scheduled reports are run against the data that give the bank a true picture of how their overall portfolio is performing. "We can look at loan volume by school on a monthly and year-to-date basis and see what the volume is doing compared to the previous year," explains Ms. Cannon. "We can project interest earnings, track delinquencies and, in the near future, we'll be able to model the financial impact of secondary market sales."

The Bank also uses the consolidated information as a customer service tool. Again Ms. Cannon, "When a borrower calls in with a question about their loan we can answer it right on the spot or refer them to right servicer for their answer. Before SL DataMart, we only had an idea of where the borrower's account was housed, now we know exactly where it is and what status it's in."

According the V-Tek Executive Vice President, Doug Hawks, the company plans to offer the SL DataMart system commercially to other participants in the student lending market. "We will make the product available via a tradition license arrangement and in a remote ASP environment," said Mr. Hawks.

V-Tek Systems Corporation, headquartered in Diamond Bar, CA, is a software development and system integration company with extensive expertise in Web-based business applications, Internet communications, client/server technology, UNIX & NT operating systems and Oracle database software. V-Tek provides software solutions and services to many of the nation's financial institutions and colleges and universities.