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FOR IMMEDIATE RELEASE
Contact: Joe Boyle
Chief Executive Officer
803-758-2528
AFFINITY TECHNOLOGY
GROUP ANNOUNCES A THIRTY DAY EXTENSION OF REDMOND DUE DILIGENCE
PERIOD
Columbia, SC, September 6, 2000
– Affinity Technology Group, Inc. [NASDAQ: AFFI] today announced
that it has agreed to give Redmond Fund, Inc., an additional 30
days to complete its due diligence review of the company under the
Common Stock Purchase Agreement between Affinity and Redmond, which
was executed effective as of June 2, 2000. Redmond was originally
required to complete its due diligence investigation of the company
during a 90-day period that expires in the first week of September
2000. Redmond now has until the first week in October to complete
its due diligence review. Any additional investment by Redmond
in Affinity is subject to Redmond's satisfactory completion of its
due diligence review of the company.
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 services 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 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 that
may cause actual results to differ materially from those projected.
With the exception of Redmond Fund, Inc.'s initial $500,000 investment
in the Company in June 2000, Redmond Fund is not obligated to make
any additional investment in the Company, and no assurances can
be given that Redmond will make any additional investment in the
Company.
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.
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