EELN E-Loan (MM)

E-LOAN Selects PeopleSupport as Outsourcing Provider for Auto Loan Unit LOS ANGELES, Dec. 15 /PRNewswire-FirstCall/ -- PeopleSupport, Inc. (NASDAQ:PSPT), an offshore business process outsourcing (BPO) provider that offers customer management and accounts receivable management services for U.S.-based clients from its facilities in the Philippines, today announced that it has been selected as an outsourcing provider for the Auto Loan Unit of E-LOAN(R) (NASDAQ:EELN), an online consumer direct lender. PeopleSupport eReps based in the Philippines perform information verification checks for underwriting and fraud prevention purposes for E-LOAN auto loan customers. "We are delighted that E-LOAN, a company known for high caliber customer support, chose PeopleSupport as its offshore BPO provider for its Auto Loan Unit," said Lance Rosenzweig, PeopleSupport's Founder, Chairman and Chief Executive Officer. "The 2-year agreement, a strategic win for PeopleSupport, will help strengthen our traction in the financial services industry and provide the basis for others in the industry to outsource their customer management needs to PeopleSupport. We look forward to strengthening and deepening our relationship with E-LOAN by providing an exceptional service experience to E-LOAN's customer base." "Engaging in offshore outsourcing has become a competitive reality for our industry," said Chris Larsen, E-LOAN's Chairman and Chief Executive Officer. "Successfully competing on this level depends upon making our BPO program transparent to consumers and working with a trusted partner with a proven track record. PeopleSupport is a perfect fit because of its excellent reputation and commitment to upholding E-LOAN's industry leading consumer privacy and security standards. With this foundation, we are confident that this strategic relationship will benefit E-LOAN and our customers by improving cost efficiencies and enhancing our service capabilities." E-LOAN discloses its outsourcing programs to consumers and provides them with the opportunity to opt-out before they complete their application. PeopleSupport is bound by strict privacy and security standards, which include the prohibition of selling, sharing or retaining sensitive customer information. In addition, PeopleSupport uses an IPSec encrypted connection to provide the highest level of security. About PeopleSupport PeopleSupport, Inc. (NASDAQ:PSPT), is an offshore business process outsourcing (BPO) provider that offers customer management services for U.S.-based clients from its facilities in the Philippines. PeopleSupport also provides accounts receivable management services and is planning to provide other back office management services. PeopleSupport is one of the largest outsourced service providers in the Philippines based on the size of its workforce, with over 3,500 college-educated, fluent English speaking Philippine personnel. Headquartered in Los Angeles, California, PeopleSupport provides services to clients in a variety of industries, including travel and hospitality, technology, telecommunications, retail, consumer products and financial services. For more information, visit http://www.peoplesupport.com/. Forward-Looking Statements Certain statements in this press release, including, without limitation, those related to PeopleSupport's expectations about its relationship with E-LOAN, are forward-looking statements that are based on current expectations and that involve risks and uncertainties. Risks and uncertainties may cause results to differ materially from those expected. Factors that could cause the anticipated results to differ from those expected include: the company's ability to successfully deliver the service levels required in its agreement with E-LOAN; a reduction in demand for E-LOAN's services that could reduce the demand for the company's services to E-LOAN; unanticipated technological changes and requirements; risks generally associated with operations in the Philippines; changes in government regulations related to handling financial transactions offshore; and other risks identified from time-to-time in the company's SEC filings. These forward-looking statements represent estimates and assumptions only as of the date they are made. The company undertakes no obligation to update or revise these forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made. You should review the risks described in reports and registration statements that the company files from time to time with the SEC to better understand the risks the company faces. About E-LOAN E-LOAN is an online consumer direct lender dedicated to providing borrowers across the credit spectrum with a more enjoyable and affordable way to obtain mortgage, auto and home equity loans. By making credit scores freely available to consumers and integrating them with a suite of sophisticated advice tools, E-LOAN is pioneering the nascent debt management advice category -- helping consumers proactively manage their loan portfolios to lower their overall borrowing costs. The company relentlessly advocates eliminating the unnecessary processes, fees, hassle, haggle and lack of transparency traditionally associated with the consumer loan experience. Protecting consumers' financial privacy is a paramount concern, prompting E-LOAN to implement industry leading privacy practices and advocate strong consumer financial privacy protection laws. In June 2004, an independent study conducted by TRUSTe and The Ponemon Institute ranked E-LOAN as one of the top 20 most trusted companies for privacy in America. E-LOAN was the highest ranked online financial services company to make the top 20. Consumers can log onto http://www.eloan.com/ or call 1-888-E-LOAN-22 to access E-LOAN's products, services and team of dedicated loan and debt advice professionals. E-LOAN is publicly traded on the Nasdaq National Market under the symbol EELN. From inception through September 2004, E-LOAN has originated and sold over $22.8 billion in consumer loans. DATASOURCE: PeopleSupport, Inc. CONTACT: Peter Hargittay, Marketing and Communications of PeopleSupport, +1-310-824-6182, fax, +1-310-824-6299, ; or Tiffany Fox, Public & Investor Relations of E-LOAN, +1-925-847-6314, Web site: http://www.eloan.com/ http://www.peoplesupport.com/

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