Glaser Financial Group Successfully Implements FICS' Commercial Servicer

- Windows®-based, commercial servicing system enables increased flexibility and functionality -

NEW ORLEANS, Feb. 26, 2003 - Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house commercial servicing technology to the mortgage industry, announced today at the MBA National Servicing Conference & Expo that Minn.-based, Glaser Financial Group has successfully implemented FICS' Commercial Servicer.

Glaser Financial Group is a full-service commercial mortgage broker that purchased FICS' multi-family and commercial loan manager, Commercial Servicer, in Q4 2002 to replace its existing commercial loan servicing system. The company successfully implemented Commercial Servicer in Feb. 2003.

"We are moving into a seamless Windows®-based servicing environment and looking to FICS and Commercial Servicer to help us achieve the best possible results for our customers," said Bert Libke, director of Loan Administration at Glaser Financial Group. "We will be able to interface with all the necessary core investors such as Fannie Mae, Freddie Mac and Ginnie Mae as part of a more complete solution."

In addition to Commercial Servicer, Glaser Financial Group has also purchased FICS' Commercial Accountant. Commercial Accountant will automate accounting capabilities such as daily cash book balancing, month-end reporting, to show the distribution and movement of mortgage funds, bank account histories, trial balances, general ledger, P&I advances and recovery and ACH distribution.

"Commercial Servicer's platform represents the perfect commercial loan servicing system for Glaser Financial Group as it moves toward a fully Windows®-based environment," said Dawn Gibbs, president and CEO of FICS. "Through the combination of Commercial Servicer and Commercial Accountant, Glaser Financial Group will provide its customers with the most comprehensive commercial loan service possible, while establishing a system to streamline internal workflows as well."

About Glaser Financial Group

Glaser Financial Group is a full service commercial mortgage banker based in St. Paul, Minn. Glaser arranges financing for commercial, long term care and multifamily real estate through Freddie Mac, Fannie Mae DUS, HUD/FHA, conventional and conduit funding sources. For more information about Glaser Financial Group and its services visit the Internet at www.glaser.com.

About FICS

Founded in 1983 and headquartered in Dallas, Texas, Financial Industry Computer Systems, Inc. (FICS), specializes in providing flexible, comprehensive residential and commercial technology solutions to the mortgage industry. FICS' systems are designed for Microsoft® Windows® with the most recent solutions using .NET framework that include a rich Windows® Presentation Foundation user interface and multi-tiered shareable services. The company also provides innovative document management and web-based capabilities into its full suite of products. Additional information about FICS is available via the company's website at www.FICS.com.

Financial Industry Computer Systems