E-LOAN Joins Russell Indexes
June 27 2005 - 8:00AM
PR Newswire (US)
E-LOAN Joins Russell Indexes PLEASANTON, Calif., June 27
/PRNewswire-FirstCall/ -- E-LOAN, Inc. (NASDAQ:EELN), an online
consumer direct lender, today announced that it is set to join the
Russell 3000(R) Index and Russell 2000(R) Index as well as the new
Russell Microcap(TM) Index. Russell Investment Group reconstituted
its family of U.S. indexes on June 24, 2005. Final membership in
these Russell indexes will be published on July 1, 2005. "We are
very pleased that our market capitalization has grown to meet the
size requirement for inclusion in the Russell indexes," said Mark
Lefanowicz, Chief Executive Officer and President of E-LOAN. "We
believe this higher level of visibility is an important turning
point for E-LOAN and our shareholders." Russell indexes are widely
used by investment managers and institutional investors for index
funds and as benchmarks for both passive and active investment
strategies. More than $2.5 trillion in assets currently are
benchmarked to them. Investment managers who oversee these funds
purchase shares of member stocks according to that company's
weighting in the particular index. Membership in the Russell
3000(R), which remains in place for one year, means automatic
inclusion in the large-cap Russell 1000(R) or small-cap Russell
2000(R) as well as the appropriate growth and style indexes.
Russell determines membership for its equity indexes primarily by
objective, market capitalization rankings and style attributes. The
Russell Microcap Index will be comprised of the smallest 1,000
securities in the small-cap Russell 2000(R) Index plus the next
1,000 companies based on a ranking of all U.S. equities by market
capitalization. This new index offers managers and other investors
a comprehensive, unbiased barometer to compare their performance
against the genuine microcap marketplace of stocks. Additional
information about Russell indexes and rankings is available at
http://www.russell.com/ . About E-LOAN E-LOAN(R) is an online
consumer direct lender dedicated to providing borrowers with a
Radically Simple(SM) way to obtain mortgage loans, car loans and
home equity loans. Since its launch in 1997, E-LOAN has drawn upon
its pro consumer values to improve the lending experience in
revolutionary ways. By eliminating the traditional incentive
structure to charge consumers higher rates, giving consumers free
access to credit scores and eliminating lender fees, E-LOAN is
providing a uniquely open, fair and honest loan process. Protecting
consumers' financial privacy is also a paramount concern, prompting
E-LOAN to implement industry leading privacy practices and advocate
strong consumer financial privacy protection laws. Consumers have
recognized E-LOAN's trustworthiness and respect for customers. 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. In another independent study
by The Customer Respect Group, E-LOAN received the overall highest
rating in the Online Customer Respect Study of North America's
largest financial services firms. From inception through March 31,
2005, E-LOAN has originated and sold over $25.4 billion in consumer
loans ranging from interest only and zero down mortgages and
cash-out refinancing to home equity lines of credit and car loans.
E-LOAN is publicly traded on the Nasdaq National Market under the
symbol EELN. To find out more about E-LOAN and its products and
services, logon to http://www.eloan.com/ or call 1-888-E-LOAN-22.
About Russell Investment Group Russell, a global leader in
multi-manager investment services, provides investment products and
services in more than 39 countries. Russell manages more than $135
billion in assets and advises clients worldwide representing $2.3
trillion. Founded in 1936, Russell is a subsidiary of Northwestern
Mutual and is headquartered in Tacoma, Wash., with additional
offices in New York, Toronto, London, Paris, Singapore, Sydney,
Auckland and Tokyo. This news release contains forward-looking
statements based on current expectations that involve risks and
uncertainties. E-LOAN's actual results may differ from the results
described in the forward-looking statements. Factors that could
cause actual results to differ include, but are not limited to,
general conditions in the mortgage and auto industries, interest
rate fluctuations, and the impact of competitive products. These
and other risk factors are detailed in E-LOAN's periodic filings
with the Securities and Exchange Commission. E-LOAN Press/Investor
Contact: E-LOAN Press Contact: Tiffany Fox Laurie Azzano E-LOAN,
Public/Investor Relations Cosmo Public Relations 925/847-6314
504/296-1349 DATASOURCE: E-LOAN, Inc. CONTACT: Tiffany Fox of
E-LOAN, Public/Investor Relations, +1-925-847-6314, ; Laurie
Azzano, Cosmo Public Relations, +1-504-296-1349, , for E-LOAN, Inc.
Web site: http://www.eloan.com/ http://www.russell.com/
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