New York City, August 15, 2002 – Finacity Corporation announced today a strategic partnership with ABN AMRO Bank N.V.’s Global Trade & Advisory business line. As part of the partnership, ABN AMRO is making an equity investment in Finacity and will begin providing the benefits of Finacity’s trade receivables funding and servicing capabilities to its U.S. clients. ABN AMRO’s partnership with Finacity coincides with the official launch of Finacity’s U.S.-based operations. Finacity has developed a new, efficient way of providing working capital and liquidity for domestic and cross-border trade receivables for companies that may otherwise not have access to capital markets financing for this asset class. Finacity has secured several hundred million dollars of leverage capital to launch these funding efforts this quarter.

Finacity’s unique solution offers companies the ability to accelerate their access to working capital through the monetization of trade receivables, typically the largest current asset on a company’s balance sheet. Finacity’s receivables funding program enables companies to improve their cost of capital, increase their cash flow, and transfer obligor risk, while also allowing for potential true sale treatment. These benefits are realized through Finacity’s ability to provide indirect access to the capital markets by acquiring funds through the securitization of a client’s trade receivables. Furthermore, all of Finacity’s clients will obtain customized, Fortune 100-quality servicing through Finacity’s proprietary platform and technology.

ABN AMRO joins Finacity’s other founders, all of whom are leaders in their respective industries. These founding partners include Bank of America, the largest commercial lender in the U.S.; EULER ACI, North America’s leading trade credit insurer; Amroc Investments, the nation’s largest broker of trade claims; and eVolution Venture Partners, a venture capital firm backed by Kleiner Perkins Caufield & Byers, Bain & Co., and the partners of Texas Pacific Group.

“We are thrilled to have ABN AMRO as our newest strategic partner and as an investor,” said Adrian Katz, CEO of Finacity. “The bank’s broad global reach and its focus on delivering innovative, value-added products to their clients provide Finacity with tremendous distribution opportunities in today’s market. We are convinced that our partnership with them will significantly benefit the vast number of U.S. and global companies that have yet to monetize fully the value of their trade receivables. ABN AMRO’s involvement substantially enhances our position as we launch our business offering to the U.S. market and beyond.”

The new partnership enables ABN AMRO to increase its lending opportunities, broaden its product portfolio, and expand its market reach. These opportunities arise from Finacity’s ability to provide companies beyond the Fortune 100 with the credit enhancement and quality of servicing essential for obtaining cost efficient receivables funding from the capital markets.

“ABN AMRO is reinforcing our commitment to helping our clients service and finance their trade receivables, both domestic and cross-border,” said Daniel Cotti, Global Head of ABN AMRO’s Global Trade & Advisory business line. “Through the Finacity partnership, ABN AMRO offers unparalleled financing capabilities and funding rates.”

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Finacity Corporation www.finacity.com
Finacity is a company that specializes in the provision of efficient trade receivables funding and state-of-the-art servicing and collections. Finacity brings the pricing of the capital markets to the universe of companies beyond the Fortune 100 by efficiently lowering the barriers to traditional trade receivables securitization for both domestic and cross-border transactions. Several industry-leading companies founded Finacity in the first quarter of 2001. These founding partners include Bank of America, EULER ACI, Amroc Investments, and eVolution Venture Partners, a venture capital firm backed by Kleiner Perkins Caufield & Byers, Bain & Co., and the partners of Texas Pacific Group. Finacity’s headquarters are located in New York City.

ABN AMRO Global Trade and Advisory (GT&A) www.abnamro.com
ABN AMRO Bank N.V. is a leading global trade bank with more than 175 years’ experience in intermediating and financing global commerce. Global Trade and Advisory, a division of the Global Transaction Services (GTS) business unit, operates in more then 60 countries and provides integrated trade solutions for importers and exporters by offering risk mitigation, settlement, financing and information solutions. Many of these innovative solutions are web-enabled via the MaxTrad^sm suite of products (www.maxtrad.com). GT&A also provides a unique e-commerce application, AllTradesm, that provides an end-to-end cross-border trade solution to enhance companies’ global supply chain management processes. In addition, GT&A serves a growing number of financial institutions through its Global Partnership Program allowing partner institutions access to its leading edge technology infrastructure and innovative product suite via a variety of outsourcing models.

Netherlands-based ABN AMRO Bank N.V. is one of the world’s largest banks with total assets of more than $500 billion. Its activities are grouped into three strategic business units: Wholesale Clients, which provides integrated corporate and investment banking services to corporate, financial institution and public sector clients worldwide; Consumer & Commercial Clients, which focuses on retail and small and medium-size enterprises in a number of core markets; and Private Clients & Asset Management, which focuses on private banking and fund management clients. ABN AMRO is the largest foreign bank in the U.S. as measured by assets (source: Federal Reserve) and is a leader in the Midwest consumer and commercial banking market through its subsidiaries LaSalle Bank and Standard Federal. ADR’s of the parent holding company trade on the NYSE under the symbol “ABN.”

Amroc Investments
Amroc Investments, LLC (“Amroc”) is an investment firm specializing in the distressed debt market. Amroc acts as an intermediary for sophisticated institutional investors who have available capital in excess of $20 billion. Unlike many of the broad-based brokerage firms in this field, Amroc’s primary function is to evaluate distressed opportunities and arrange the purchase of problem bank loans, trade claims, and accounts receivable. Amroc has been a leader in this highly specialized field for over a decade.

Bank of America (www.bankofamerica.com)
Bank of America (NYSE:BAC) is one of the world’s leading financial services companies. Through offices in 32 countries, the company provides investment banking, trade finance, treasury management, capital markets, leasing, and financial advisory services to domestic and international corporations, financial institutions and government entities. Many of the bank’s services to corporate and institutional clients are provided through Banc of America Securities LLC, a subsidiary of Bank of America Corporation.

EULER ACI (www.eulergroup.com)
EULER ACI, a subsidiary of EULER & HERMES, provides comprehensive domestic and export receivables coverage and worldwide credit expertise. Incorporated in 1891, EULER ACI today covers more than $85 billion in sales annually. EULER ACI is a monoline insurer of domestic and export accounts receivable and is rated AA by Standard & Poor’s, and A (Excellent) by AM Best.

EULER & HERMES is the leading credit insurer worldwide, as well as the first integrated factoring company in Europe and one of the leaders in the bonding business. With more than 5,000 employees located in 29 countries, EULER & HERMES represents 36% of the global credit insurance market and offers a wide range of services for credit management.

Listed on the “Premier Marché” of the Paris Stock Exchange, EULER & HERMES and its main credit insurance subsidiaries are rated AA by Standard & Poor’s.

eVolution Venture Partners (www.evopartners.com)
eVolution Venture Partners is a venture capital firm focused on working with corporate partners to leverage legacy assets in order to build new, independent businesses. Founded in 2000 by Bain & Co., Kleiner Perkins Caufield & Byers and the partners of Texas Pacific Group, the company offers its corporate partners the capital, strategic vision, operational expertise, and other services to create new businesses that can transform their industries.