NetBank Launches Homeowners Insurance Through Sister Company NetInsurance, Inc.; Consumers Now Have Easy Access to Insurance Products for the Home and Auto from Top Providers

ATLANTA--()--Nov. 10, 2003--NetBank(R) (Nasdaq: NTBK)(www.netbank.com), the country's first commercially successful Internet bank, today announced homeowners insurance products are now being offered to consumers through its sister company, NetInsurance, Inc., a national insurance agency that offers personal lines of property and casualty insurance products from many of the nation's leading insurance companies. NetInsurance(SM) began offering auto insurance through the bank in April of this year.

"The addition of homeowners insurance allows us to provide our customers with even more of the type of products they need when they need them, and with the type of value they really want - convenience, pricing and access to professional service representatives," said Eve McDowell, chief sales and customer fulfillment executive for NetBank. "And our real-time, single-session technology allows users to move from receiving estimates and quotes to request an insurance policy in a matter of minutes. If they have any questions, NetInsurance's licensed insurance agents are available live via online chat or phone."

From the NetBank Web site, consumers can access the NetInsurance Web site to comparison shop for multiple insurance quotes at the same time and apply for, and purchase, a policy. The process is intuitive and has helpful hints to answer common questions at each step along the way. Currently, homeowners insurance is available through NetInsurance to residents in Alabama, Arizona, California, Colorado, Illinois, Maryland, Missouri, Michigan, Nevada, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Texas, Utah, Virginia and Washington. Auto insurance is currently available to residents in Alabama, Arizona, California, Colorado, Florida, Illinois, Maryland, Missouri, Michigan, Nevada, Ohio, Oregon, Pennsylvania, South Carolina, Texas, Utah, Virginia and Washington.

In addition to NetBank, NetBank, Inc.'s other primary business units offer access to homeowners insurance through NetInsurance. The company's wholesale mortgage lenders, RBMG(R) and Meritage Mortgage(R), and its retail mortgage lender, Market Street Mortgage(R), each have arrangements with NetInsurance for it to offer homeowners insurance to loan customers. Market Street's customers in Florida, Illinois, Texas and Colorado can currently purchase homeowners insurance through NetInsurance, and NetInsurance plans to expand the offering to seven additional states in which Market Street operates by year end. RBMG's and Meritage's customers can now access NetInsurance via pilot programs in Florida and California, and NetInsurance expects to extend its insurance product offerings to other states this year.

About NetBank

NetBank(R) is the country's first commercially successful Internet bank. NetBank currently has $2.5 billion in deposits and serves customers in all 50 states and more than 20 foreign countries. Its full line of financial services is designed around the needs and lifestyles of its customers. Through a branchless business model, NetBank operates at a fraction of the cost of a traditional bank. Since its start in 1996, NetBank has passed its cost savings to customers through more competitive deposit rates and free account services. Through its mortgage lending subsidiaries, Market Street Mortgage(R) and RBMG(R), NetBank ranks as a top 30 U.S. mortgage lender. NetBank, Equal Housing Lender and Member FDIC, is a primary operating subsidiary of NetBank, Inc. (Nasdaq: NTBK), a diversified financial services company. For more information on NetBank's products and services, please visit www.netbank.com.

Contacts

NetBank, Atlanta
Rich Jeffers, 678-942-7596
rjeffers@netbank.com

Contacts

NetBank, Atlanta
Rich Jeffers, 678-942-7596
rjeffers@netbank.com