Strategic Partnership Opens Virtual Door for NetBank(R) in Canada

NB Partners Licenses Limited Rights to NetBank Trademarks

To Dundee Bancorp for Exclusive Use in Canada



Apr 26, 2001, 01:00 ET from NetBank, Inc.

    ATLANTA, April 26 /PRNewswire/ -- NetBank, Inc. (Nasdaq:   NTBK), parent
 company of NetBank(R) (http://www.netbank.com), Member FDIC, and the country's
 largest independent and first profitable Internet bank, today announced a
 strategic partnership between NB Partners, its wholly-owned subsidiary, and
 Dundee Bancorp Inc., a leading Canadian financial services firm and principal
 owner of Dundee Wealth Management Inc. The partnership gives Toronto-based
 Dundee Bancorp the exclusive right to sell banking products and services using
 limited NetBank trademarks in Canada through a trust company subsidiary. NB
 Partners receives an annual licensing fee and minority ownership in the new
 Dundee Bancorp subsidiary. Financial terms of the strategic partnership were
 not disclosed.
     "This partnership is an exciting first step in expanding the NetBank name
 and value proposition beyond the U.S., and we are pleased to be working with
 such a great partner," said D.R. Grimes, NetBank chief executive officer. "By
 partnering with a foreign financial services provider, like Dundee Bancorp, we
 can enter another country more easily and benefit from the partner's
 experience and knowledge of the local marketplace. In turn, we are able to
 help the partner replicate our operational efficiency and introduce an online
 banking experience that really has no rival abroad."
     "We have been interested in expanding into banking services for some
 time," said Ned Goodman, Dundee Bancorp chairman and chief executive officer.
 "This partnership represents an exceptional opportunity for us to leverage
 NetBank's vast online banking experience and immediately surpass other local
 online offerings in value and scope."
     Dundee Bancorp must first await regulatory approval of its application to
 incorporate its new subsidiary as a trust company, but the firm hopes to
 launch its NetBank affiliate operation later in the year. NetBank will provide
 ongoing marketing and technology advisory support, primarily in the start-up
 phase and first year. Dundee Bancorp plans to use NCR to host its banking
 operation and provide back-office processing and support. NetBank and NCR have
 a similar working relationship. Additionally, Dundee Bancorp's business plan
 includes marketing its NetBank-affiliated banking products and services to new
 and existing clients of Dundee Wealth Management.
     NetBank, Inc. formed NB Partners this year to pursue strategic
 partnerships with foreign financial services companies. This subsidiary
 licenses limited rights to NetBank trademarks and intellectual property to a
 single provider within a country and pays royalties to NetBank on each
 partnership. Additionally, NetBank, Inc. has recently negotiated two
 significant acquisitions. In the last month, the company acquired the deposit
 accounts of CompuBank, a privately held Internet bank, and announced a
 definitive agreement to acquire Market Street Mortgage, one of the 40 largest
 retail mortgage lenders in the U.S.
 
     About NetBank(R)
     NETBANK, Inc. (Nasdaq:   NTBK), is a financial services company that has
 recorded 12 consecutive quarters of profitability to date. Its wholly owned
 subsidiary, NetBank (http://www.netbank.com), Member FDIC, was the first
 profitable pure Internet bank in the country. With more than $2 billion in
 assets and customers in all 50 states and 20 foreign countries, NetBank was
 recognized as the best online bank by readers of Worth magazine in its 2000
 "Readers' Choice Awards" survey and as a Money.com pick for "Best Online
 Banks."  With its low-cost, branchless business model, NetBank is able to
 reward its customers with high interest rates on deposits and low- or no-fee
 banking services. Products and services include free online account access,
 free checking, free unlimited online bill payment and presentment, free
 unlimited ATM use, VISA(R) Check Card, VISA(R) credit card, online brokerage
 services, mortgage lending, home equity lines and loans, insurance, IRAs,
 online safe deposit boxes, and business equipment leasing services. NetBank is
 a member of the AFFN, Cirrus, Honor/Star, MAC and NYCE ATM networks. For more
 information on NetBank, its products and services, visit the Web site at
 http://www.netbank.com, or call 1-888-BKONWEB (256-6932).
 
     "Safe Harbor" Statement under the Private Securities Litigation Reform Act
 of 1995: Information in this press release about NetBank's plan to expand its
 brand and business model further abroad; partnerships with foreign companies
 making it easier for the bank to establish a presence in other markets; and
 Dundee Bancorp's intention to sell NetBank-affiliated banking products to
 Dundee Wealth Management customers are "forward-looking statements" involving
 risks and uncertainties that could cause actual results to differ materially.
 Risks include a decision not to pursue or enter into additional partnerships
 for strategic or other reasons; foreign partners not being able to translate
 their local market experience into success in the online banking industry; and
 a change in Dundee Bancorp's business plan for its banking operations. The
 bank has no obligation to update any forward-looking statements. For a
 discussion of additional risks and uncertainties facing NetBank, see "Risk
 Factors" in the Company's SEC filings.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X88653332
 
 

SOURCE NetBank, Inc.
    ATLANTA, April 26 /PRNewswire/ -- NetBank, Inc. (Nasdaq:   NTBK), parent
 company of NetBank(R) (http://www.netbank.com), Member FDIC, and the country's
 largest independent and first profitable Internet bank, today announced a
 strategic partnership between NB Partners, its wholly-owned subsidiary, and
 Dundee Bancorp Inc., a leading Canadian financial services firm and principal
 owner of Dundee Wealth Management Inc. The partnership gives Toronto-based
 Dundee Bancorp the exclusive right to sell banking products and services using
 limited NetBank trademarks in Canada through a trust company subsidiary. NB
 Partners receives an annual licensing fee and minority ownership in the new
 Dundee Bancorp subsidiary. Financial terms of the strategic partnership were
 not disclosed.
     "This partnership is an exciting first step in expanding the NetBank name
 and value proposition beyond the U.S., and we are pleased to be working with
 such a great partner," said D.R. Grimes, NetBank chief executive officer. "By
 partnering with a foreign financial services provider, like Dundee Bancorp, we
 can enter another country more easily and benefit from the partner's
 experience and knowledge of the local marketplace. In turn, we are able to
 help the partner replicate our operational efficiency and introduce an online
 banking experience that really has no rival abroad."
     "We have been interested in expanding into banking services for some
 time," said Ned Goodman, Dundee Bancorp chairman and chief executive officer.
 "This partnership represents an exceptional opportunity for us to leverage
 NetBank's vast online banking experience and immediately surpass other local
 online offerings in value and scope."
     Dundee Bancorp must first await regulatory approval of its application to
 incorporate its new subsidiary as a trust company, but the firm hopes to
 launch its NetBank affiliate operation later in the year. NetBank will provide
 ongoing marketing and technology advisory support, primarily in the start-up
 phase and first year. Dundee Bancorp plans to use NCR to host its banking
 operation and provide back-office processing and support. NetBank and NCR have
 a similar working relationship. Additionally, Dundee Bancorp's business plan
 includes marketing its NetBank-affiliated banking products and services to new
 and existing clients of Dundee Wealth Management.
     NetBank, Inc. formed NB Partners this year to pursue strategic
 partnerships with foreign financial services companies. This subsidiary
 licenses limited rights to NetBank trademarks and intellectual property to a
 single provider within a country and pays royalties to NetBank on each
 partnership. Additionally, NetBank, Inc. has recently negotiated two
 significant acquisitions. In the last month, the company acquired the deposit
 accounts of CompuBank, a privately held Internet bank, and announced a
 definitive agreement to acquire Market Street Mortgage, one of the 40 largest
 retail mortgage lenders in the U.S.
 
     About NetBank(R)
     NETBANK, Inc. (Nasdaq:   NTBK), is a financial services company that has
 recorded 12 consecutive quarters of profitability to date. Its wholly owned
 subsidiary, NetBank (http://www.netbank.com), Member FDIC, was the first
 profitable pure Internet bank in the country. With more than $2 billion in
 assets and customers in all 50 states and 20 foreign countries, NetBank was
 recognized as the best online bank by readers of Worth magazine in its 2000
 "Readers' Choice Awards" survey and as a Money.com pick for "Best Online
 Banks."  With its low-cost, branchless business model, NetBank is able to
 reward its customers with high interest rates on deposits and low- or no-fee
 banking services. Products and services include free online account access,
 free checking, free unlimited online bill payment and presentment, free
 unlimited ATM use, VISA(R) Check Card, VISA(R) credit card, online brokerage
 services, mortgage lending, home equity lines and loans, insurance, IRAs,
 online safe deposit boxes, and business equipment leasing services. NetBank is
 a member of the AFFN, Cirrus, Honor/Star, MAC and NYCE ATM networks. For more
 information on NetBank, its products and services, visit the Web site at
 http://www.netbank.com, or call 1-888-BKONWEB (256-6932).
 
     "Safe Harbor" Statement under the Private Securities Litigation Reform Act
 of 1995: Information in this press release about NetBank's plan to expand its
 brand and business model further abroad; partnerships with foreign companies
 making it easier for the bank to establish a presence in other markets; and
 Dundee Bancorp's intention to sell NetBank-affiliated banking products to
 Dundee Wealth Management customers are "forward-looking statements" involving
 risks and uncertainties that could cause actual results to differ materially.
 Risks include a decision not to pursue or enter into additional partnerships
 for strategic or other reasons; foreign partners not being able to translate
 their local market experience into success in the online banking industry; and
 a change in Dundee Bancorp's business plan for its banking operations. The
 bank has no obligation to update any forward-looking statements. For a
 discussion of additional risks and uncertainties facing NetBank, see "Risk
 Factors" in the Company's SEC filings.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X88653332
 
 SOURCE  NetBank, Inc.