SAN FRANCISCO, CA , January 4, 1999 -- Finet Holdings Corporation (Nasdaq: FNHC) today announced the appointment of Gary A. Palmer as Acting Chief Financial Officer, reporting directly to Chairman and Chief Executive Officer Mark L. Korell.

Palmer will assume responsibility for financial planning, analysis and controls, business modeling, budgeting, accounting and reporting, treasury functions including credit relationships, and audit functions. George P. Winkel, Finet's former CFO, will assume other responsibilities.

Palmer brings significant financial services and management experience to Finet, having previously held senior positions at Freddie Mac, Imperial Bank and Gentra Capital Corporation. He has specific expertise in asset/liability management, secondary marketing and investor relations. In announcing the appointment, Korell commented, "We are delighted to add Gary to our team. He offers substantial depth and breadth of experience in all aspects of financial management." Palmer earned a BS from the University of Vermont and an MBA from the University of North Carolina -Chapel Hill.

Finet, an e-commerce firm, facilitates homeownership through a variety of technology-based products and automated services for consumers and real estate service providers, including Realtors*, mortgage brokers, Internet home listing aggregators, title companies and other settlement services providers. Its Internet products include iQualify, a national award-winning service providing consumers a mortgage approval decision in minutes; and Interloan.com, an on-line home financing services site.