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First Internet Bank of Indiana Raises $30 Million in Second-Round Funding

Indianapolis, IN, May 10, 2000 - First Internet Bank of Indiana, a 15-month-old Internet-based financial institution with customers across the country, today announced that it has raised $30 million in a second-round private placement. The financing includes a previously announced commitment of $12 million from Newcourt Financial and an additional $18 million from private individuals, corporations and investment funds.

Placement for the round was led by Robertson Stephens , the leading full-service investment bank focused exclusively on growth companies, with assistance from OffRoad Capital, the first private capital marketplace on the Internet. The new funds will be used to meet general capital requirements needed to support the bank's rapid growth.

"The size and success of our second-round funding is a tribute to the strength of our business plan and our ability to attract $165 million in assets in little more than a year," said David B. Becker, Chairman and CEO of First IB. "Coupled with the high rankings we have received from both Gomez Advisors and SmartMoney, these factors have given investors confidence in the staying power of our Internet-only banking model."

First IB is the first state-chartered, FDIC-insured institution to operate exclusively via the Internet. It draws customers from all 50 states as well as U.S. territories and military bases, delivers the most comprehensive suite of banking services on the Web, and offers a variety of advantages over traditional retail banks. These include industry-leading interest rates, real-time processing of all transactions, the ability to transfer funds in real time between accounts, and the ability to display up-to-the-minute checking, savings and loan information on a single screen.

Services include a free interest-bearing checking account with free electronic bill payment, regular and money market savings accounts, CDs, IRAs, credit cards, and check cards that can be used instead of cash or checks. In addition, First IB offers a full range of personal loans, including mortgages and home equity loans through an affiliation with The CIT Group/Consumer Finance, Inc., as well as personal lines of credit and installment loans.

Last November, the bank announced a $12 million investment from Newcourt Financial, the commercial finance business of Newcourt Credit Group. Shortly thereafter, Robert J. Hicks, Executive Vice President of Strategic Development at Newcourt, was appointed to the bank's board of directors. Newcourt was later acquired by The CIT Group (NYSE: CIT), the largest publicly owned company in the commercial finance industry.

About Robertson Stephens

Robertson Stephens is the leading full-service investment bank focused exclusively on growth companies. The market leader in technology IPOs, Robertson Stephens completed 103 deals valued at $40 billion in the first quarter of 2000, including 103 IPOs, follow-ons and convertibles and 37 M&A deals. This compares to the 1999 year-end total of 384 transactions valued at $100 billion, including 233 IPOs, follow-ons and convertibles, 66 private capital deals and 85 M&A deals. The firm's 47 equity research analysts cover nearly 700 companies. Founded in 1978, Robertson Stephens (legally FleetBoston Robertson Stephens Inc.) is a Section 20 subsidiary of FleetBoston Financial Corporation (NYSE: FBF) and a member of the NASD and all major exchanges. Together, Robertson Stephens, FleetBoston Robertson Stephens International Ltd., and Robertson Stephens Evergreen Securities Ltd. have over 1,200 employees worldwide with offices in Boston, San Francisco, New York, Menlo Park, Chicago, Atlanta, London, Munich and Tel Aviv.

About OffRoad Capital

OffRoad Capital has created the first private capital marketplace on the Internet, where a community of high net worth individuals, financial advisors and institutions provide financing in the $3 million to $15 million range for private, emerging growth companies. All activities relating to the purchase or sale of securities, including the qualification of and offerings to accredited investors, are conducted by a wholly-owned broker-dealer subsidiary of OffRoad Capital Corporation.

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