IRVINE, Calif., July 7, 2004 -- Mavent Inc., a leading provider of automated compliance solutions for the financial services industry, today announced it has selected AT&T to enhance its networking capabilities to meet the strong demand for its enterprise class solutions from the nation's largest financial institutions.  The three-year contract is valued at $1.4 million.

By hosting its Mavent Expert System with AT&T, Mavent is able to provide customers with reliable, 24x7 service, security, advanced monitoring and automatic routing of data and other information.  Mavent's initial automated compliance solution is a rules-based enterprise application that provides the residential mortgage industry with a comprehensive consumer credit knowledgebase, enabling lenders and investors to more efficiently and effectively comply with federal, state and local consumer lending laws, rules and regulations.  The company's client-base is comprised of financial institutions and investors who require the highest level of regulatory quality assurance, fueling Mavent's need to provide its customers even greater efficiencies, cost savings, faster response times and secure access to theMavent Expert System.

With increased activity and complexity in the regulatory fabric of today's residential mortgage industry, lenders are required to comply with an increasingly complex patchwork of laws, rules and regulations prior to accepting a loan application or funding a loan.   Historically, lenders have relied on a sampling of loans to check compliance, often on a post-closing basis.  In contrast, Mavent's automated compliance solution reviews every loan in a mortgage lender's pipeline for compliance with applicable consumer credit laws prior to the loan funding.

The Mavent automated mortgage compliance solution is designed for lenders and investors who view full compliance as a business requirement critical to their long-term success.

"Given the tremendous volume and the proprietary nature of the information financial institutions send over the Mavent Expert System, it is imperative that the company use a networking vendor with the highest standards of security and reliability," said Ed Stevens, chief technology officer at Mavent Inc.  "Our automated solution has completed more than four million loan file reviews with an average review time of justseconds per review.  AT&T's network will enable us to provide our customers with even greater efficiencies, including cost-savings as well as faster and more reliable access to the Mavent Expert System." 

"Lenders and investors who use the Mavent Expert System consider any error rate greater than zero as simply unacceptable," explained Tim Green, Mavent's CEO.

The AT&T solution also includes frame relay service and Business Internet Access Service for Mavent's headquarters building in Irvine, Calif.

About Mavent, Inc.

Mavent, Inc. is a leading provider of automated compliance solutions for the residential mortgage industry.  Mavent, founded in 1999, is the developer of the Mavent Expert System (patent pending). The Mavent Expert System is a rules-based enterprise application that provides the residential mortgage industry with the industry's most comprehensive consumer credit knowledgebase, enabling leading lenders to more efficiently and effectively comply with federal, state and local consumer lending laws, rules and regulations. The Mavent Expert System has conducted more than 4 million compliance reviews to date.  The company is headquartered in Irvine, Calif., with an office in New York. Mavent Inc. is SAS 70 certified by Ernst and Young LLP and is financially backed by Financial Technology Ventures (FTVentures).  For more information on Mavent, contact Louis Pizante, vice president, Sales and Strategy at 949-474-4732 or visit the company Web site at www.mavent.com.