Finet Holdings Corporation (NASDAQ: FNHC), owner and operator of FiNet.com, "America's Home Finance Network," today announced the appointment of two executives to key posts: Chief Financial Officer and Senior Vice President of Special Markets Lending.

Gary A. Palmer accepted the position as Finet's Chief Financial Officer, reporting directly to Chairman and CEO Mark L. Korell. Palmer has served as Finet's "acting" CFO since December of 1998.

"After doing due diligence I feel highly confident that Finet now has the management talent and resources to successfully execute its business strategy. I am thrilled to be a part of the team that will drive Finet to achieve its potential," said Palmer.

Palmer brings 20 years of financial services and management experience to Finet, having previously held senior positions at Southern Pacific Funding, Gentra Capital Corporation, Pacific First Bank, Imperial Corporation of America and Freddie Mac. Palmer earned a BS from the University of Vermont and an MBA from the University of North Carolina-Chapel Hill.

"We are delighted that Gary has decided to become a part of our team," Korell commented. "In less than three months he has already made significant contributions to our organization."

Korell also announced the appointment of Michael Brown to the post of Senior Vice President of Special Markets Lending, Finet's specialized lending arm. He will oversee the operation of Coastal Federal Mortgage and Monument Acceptance Corporation, Finet subsidiaries. Both operations have historically functioned in a business to business manner, but are now adding retail production to support the company's e-commerce channel.

"As mortgage lending on the Internet continues to grow, we have found it necessary to significantly expand our capacity on both the East and West Coasts in order to handle the influx of business generated from our web sites including iQualify.com, FiNet.com and the Finet Finance Center," said Brown. "Consumers visiting our sites who may have had past credit problems are referred to our Special Markets Lending Group which offers loan products that meet their specific needs."