Americorp, Inc. and CreditSoft Alliance of Innovative Credit Counseling Specialists
SYOSSET, NY - October 19, 2000

Timothy McCallan, president and chief executive officer, today announced the formation of AmeriCorp, Inc., a specialized company servicing the consumer debt management community. AmeriCorp Inc. will cater to non-profit credit counseling organizations in need of full-service management and support solutions. To sustain that endeavor, the CEO and other main principals of AmeriCorp offer decades of combined experience in finance and in the special field of debt management.

Mr. McCallan pointed out that AmeriCorp's business partners would be able to rely on the new company to handle the costly and complicated processing of clientele while they focus their efforts exclusively on the counseling and debt-reduction activities necessary for their success. His vision is of a firm that will "earn and sustain the confidence and trust of its business partners and their clients by diligently fulfilling their transaction processing, customer service and consulting needs in a consistent, effective, and timely manner."

In pursuit of this goal, the president outlined a business plan that includes the maintenance of a modern call center staffed by a large and well-trained customer service staff. The company's state-of-the-art computer technology and customized software have been engineered to ensure the timely processing of client files and payments and the smooth flow of disbursements to creditors. Agency services are available, including financial and/or specially commissioned reportage. To round out its capabilities, the company also tenders client acquisition and marketing services. Conceivably, AmeriCorp will be involved with every phase of a client's progress from acquisition to full discharge of their debts.