FOR IMMEDIATE RELEASE
Contact: Joe Boyle
Chief Executive Officer
803-758-2528

AFFINITY ANNOUNCES STOCK PURCHASE AGREEMENT WITH REDMOND FUND

Columbia, SC, June 5, 2000 - Affinity Technology Group, Inc. [NASDAQ: AFFI] today announced that it has entered into a Common Stock Purchase Agreement with Redmond Fund, Inc., based in Redmond, Washington. Under the terms of the agreement, Redmond Fund will acquire approximately 485,000 shares of Affinity’s common stock for $500,000. Each share of common stock will include a two-year warrant to acquire an additional share of Affinity’s stock for $1.37. The agreement also contemplates that the Redmond Fund will conduct, during the 90-day period following the date of the agreement, additional due diligence regarding the Company. Subject to the Redmond Fund's satisfaction with the results of the due diligence review, the agreement would permit the Company to sell up to an additional 2.5 million shares to the Redmond Fund, in installments of between $500,000 and $1 million, for up to a maximum of $3.75 million, although the actual amount will depend on market prices at the time of each installment. The Company would also issue to the Redmond Fund additional two-year warrants to acquire the same number of shares at a price equal to 133% of the issuance price. The agreement provides the Redmond Fund with certain rights to require the Company to register all such shares issued with the Securities and Exchange Commission.

Joe Boyle, Affinity’s President and Chief Executive Officer, stated, "The agreement with Redmond is a solid first step toward increasing our working capital position. We have been and will continue to evaluate capital raising alternatives with a variety of investors. In addition, we will continue to pursue capital raising activities to further increase our working capital and to exploit product opportunities, such as our patent licensing program."

Riley Evans, Chief Executive Officer of Redmond Fund, Inc., commented, "We are enthusiastic about our investment in this unique company. We feel Affinity has an impressive intellectual property portfolio which potentially covers a wide range of financial product delivery through the Internet."

About Affinity Technology Group, Inc.

Affinity's technology enables financial institutions to link their branches, call centers, Internet customers, and indirect agents electronically to their credit departments, providing fully automated lending - and, if necessary, connectivity to a loan officer - through every channel. For financial institutions, Affinity's solutions expedite loan decisioning and processing and increase productivity and capacity of branch personnel, call center agents, loan officers, and indirect agents, while improving the overall customer experience. Affinity is located on the World Wide Web at www.affi.net.

Forward-looking statements in this news release, including statements regarding the future sale of common stock to Redmond Fund, Inc., the Company’s ability to raise additional capital, and the coverage of the Company’s patents, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these statements involve several risks and uncertainties, including those related to the proprietary and other rights of third parties who may have challenged or may in the future challenge the Company’s patents, that may cause actual results to differ materially from those projected. In particular, there can be no assurances that the Company will be able to raise additional capital in the future on terms acceptable to the Company or at all. In addition, with the exception of Redmond Fund's initial $500,000 investment in the Company, the Redmond Fund, Inc., is not obligated to acquire any additional shares of stock from the Company, and no assurances can be given that the Company will be able to sell additional shares of stock to the Redmond Fund on terms acceptable to the Company or at all. In addition, although the U.S. Patent and Trademark Office has issued patents for certain claims covered by the Company’s patent applications, such action has been and is subject to future challenge by third parties, and no assurance can be given that the U.S. Patent and Trademark Office will not take action to reject any or all previously issued or pending patent claims by the Company, or that any patents that have been or may be issued to the Company will have any commercial value.

NOTE TO INVESTORS AND EDITORS: Affinity's press releases are available on the Internet through Business Wire's web site at http://www.businesswire.com. The releases are also available at no extra charge through Business Wire's Company News-On-Demand fax service at 1-800-340-7544.