Resource Bancshares Mortgage Group, Inc. Announces New Corporate Headquarters

Apr 03, 2001, 01:00 ET from Resource Bancshares Mortgage Group, Inc.

    COLUMBIA, S.C., April 3 /PRNewswire/ -- Resource Bancshares Mortgage
 Group, Inc.'s (Nasdaq: RBMG) Chairman of the Board and Chief Executive
 Officer, Douglas K. Freeman, announced today that the company is leasing the
 former Wal-Mart facility at 9710 Two Notch Road, Columbia, SC.
     Freeman, who has focused on improving processes, technology and
 infrastructure efficiencies since taking over the reins at RBMG in January
 2000, said "This lease, on what will be a 'state of the art facility,' will
 enable us to organize our newly reengineered processes in the most effective
 manner."
     When it opens this fall, RBMG's new operating headquarters will house 450
 Columbia-based employees and will accommodate over 750 for future growth.
 RBMG outgrew its current company-owned property at 7909 Parklane Road and had
 to lease additional space at Broad River Road four years ago.  "The move to
 Two Notch Road is exciting because we can bring our entire operations team
 back together in one location," said Freeman.
     The company will market the 7909 Parklane address and the surrounding
 parcels through our broker, Edens & Avant Incorporated, Columbia, SC.
 Currently, Blue Cross and Blue Shield of South Carolina leases approximately
 53,000 square feet in the Parklane building and holds options on 30,000
 additional square feet.  RBMG plans to continue to occupy its records
 management building on Parklane Road.
     According to RBMG's Chief Financial Executive, Steven F. Herbert, "We're
 pleased that we were able to find a vacant facility that will allow RBMG to
 build a world-class facility and at the same time reconfirm RBMG's commitment
 to Columbia by signing a long-term lease for over 7 years."
     Resource Bancshares Mortgage Group is a financial services company engaged
 through its wholly owned subsidiaries primarily in the business of mortgage
 banking, through the purchase (via a nationwide network of correspondents and
 brokers), sale and servicing of agency-eligible and subprime residential,
 single-family first-mortgage loans and the purchase and sale of servicing
 rights associated with agency-eligible loans.
     Statements made herein that are forward-looking in nature within the
 meaning of the Private Securities Litigation Reform Act of 1995 are subject to
 risks and uncertainties that could cause actual results to differ materially.
 Such risks and uncertainties include, but are not limited to, those related to
 overall business conditions in the mortgage markets in which the Company
 operates, fiscal and monetary policy, competitive products and pricing, credit
 risk management, changes in regulations affecting financial institutions and
 other risks and uncertainties discussed from time to time in the Company's SEC
 filings including its 2000 Form 10-K.  The Company disclaims any obligation to
 publicly announce future events or developments, which affect the forward-
 looking statements herein.
 
 

SOURCE Resource Bancshares Mortgage Group, Inc.
    COLUMBIA, S.C., April 3 /PRNewswire/ -- Resource Bancshares Mortgage
 Group, Inc.'s (Nasdaq: RBMG) Chairman of the Board and Chief Executive
 Officer, Douglas K. Freeman, announced today that the company is leasing the
 former Wal-Mart facility at 9710 Two Notch Road, Columbia, SC.
     Freeman, who has focused on improving processes, technology and
 infrastructure efficiencies since taking over the reins at RBMG in January
 2000, said "This lease, on what will be a 'state of the art facility,' will
 enable us to organize our newly reengineered processes in the most effective
 manner."
     When it opens this fall, RBMG's new operating headquarters will house 450
 Columbia-based employees and will accommodate over 750 for future growth.
 RBMG outgrew its current company-owned property at 7909 Parklane Road and had
 to lease additional space at Broad River Road four years ago.  "The move to
 Two Notch Road is exciting because we can bring our entire operations team
 back together in one location," said Freeman.
     The company will market the 7909 Parklane address and the surrounding
 parcels through our broker, Edens & Avant Incorporated, Columbia, SC.
 Currently, Blue Cross and Blue Shield of South Carolina leases approximately
 53,000 square feet in the Parklane building and holds options on 30,000
 additional square feet.  RBMG plans to continue to occupy its records
 management building on Parklane Road.
     According to RBMG's Chief Financial Executive, Steven F. Herbert, "We're
 pleased that we were able to find a vacant facility that will allow RBMG to
 build a world-class facility and at the same time reconfirm RBMG's commitment
 to Columbia by signing a long-term lease for over 7 years."
     Resource Bancshares Mortgage Group is a financial services company engaged
 through its wholly owned subsidiaries primarily in the business of mortgage
 banking, through the purchase (via a nationwide network of correspondents and
 brokers), sale and servicing of agency-eligible and subprime residential,
 single-family first-mortgage loans and the purchase and sale of servicing
 rights associated with agency-eligible loans.
     Statements made herein that are forward-looking in nature within the
 meaning of the Private Securities Litigation Reform Act of 1995 are subject to
 risks and uncertainties that could cause actual results to differ materially.
 Such risks and uncertainties include, but are not limited to, those related to
 overall business conditions in the mortgage markets in which the Company
 operates, fiscal and monetary policy, competitive products and pricing, credit
 risk management, changes in regulations affecting financial institutions and
 other risks and uncertainties discussed from time to time in the Company's SEC
 filings including its 2000 Form 10-K.  The Company disclaims any obligation to
 publicly announce future events or developments, which affect the forward-
 looking statements herein.
 
 SOURCE  Resource Bancshares Mortgage Group, Inc.