LoanQuorum Selects AskIt! to Provide Members with Enhanced Customer Service Solutions and Further Facilitate Worldwide Bank Loan Trading

Under the agreement, the AskIt! customer service software will be integrated into the existing LoanQuorum Web site, further enhancing LoanQuorum's real-time customer service levels, provide LoanQuorum members access to a fully interactive user manual online, and answers to specific technical and basic customer service questions, 24 hours a day, through AskIt!'s proprietary knowledge base. LoanQuorum plans to use AskIt's technology to support members' questions online, however the company has emphasized that customer service representatives will be available as a point of contact.

"We are absolutely committed to embracing web-based technology when it addresses a real need in our client market," said Hernan T. Narea, chief executive officer of LoanQuorum. "AskIt's technology enhances our customer service by speeding up our response time to client inquires, while also building our knowledge base of customer concerns on a minute-by-minute basis."

"We are very pleased to be working with a cutting-edge loan trading platform like LoanQuorum, a company that considering the very specific and detailed needs of its members, will make great use of the AskIt's knowledge-based technology," " said Ken Shapiro president of AskIt! "In addition, The AskIt! system will enable LoanQuorum to enhance their live customer service levels, while also reducing customer support costs."

AskIt! provides service to a number of leading financial institutions including Citibank, BankOne, and online brokers Scottrade, the New York New Media Association and major retailers such as Dean & Deluca.

Primary bank loan issuance totaled approximately $1.5 trillion in 1999, with the U.S. accounting for approximately 60 percent of that total. Although figures for secondary loan trading are inexact, industry estimates for secondary bank loan trading volume globally are $150 billion.