Home equity 2nd mortgage loan

NORWALK, Conn. -- Mortgage rates as low as 4.125%/4.451% APR with no points

With mortgage rates falling unexpectedly since the Federal Reserve decision to raise interest rates, home-buyers and homeowners have yet another chance to lock in savings. pricelinemortgage, the online mortgage service owned in part by priceline.com(R) (Nasdaq: PCLN), said today that it has rates available for as low as 4.125% with no points. pricelinemortgage is also fast, taking an average of 6 business hours to process an online application for a home equity loan, first mortgage or refinancing. Once the loan is approved, the rate is locked-in and protected against future fluctuations.

Last week, it was reported that the benchmark 30-year, fixed-rate mortgage fell to 6.01%, the lowest level since the spring. The national average for a 15-year mortgage fell to 5.42%.

As of this morning, pricelinemortgage was offering the following specially negotiated rates and terms:

--A 30-year fixed mortgage for 5.625%/5.669% APR and no points.*

--A 15-year fixed mortgage for 5.000%/5.065% APR and no points.*

--A 30-year jumbo mortgage for 6.000%/6.020% APR and no points.*

--A 3/1 ARM adjustable-rate mortgage for 4.125%/4.451% APR and no points.*

--A 5/1 ARM adjustable-rate mortgage for 4.625%/4.606% APR and no points.*

--A HELOC (home equity line of credit) for 3.750%/3.750% APR and no points.**

Full details on pricelinemortgage's rates and programs can be accessed by visiting www.Priceline.com or by calling 1-800-920-1485.

pricelinemortgage is an equal housing lender.

pricelinemortgage combines low rates, easy application and fast turnaround in a convenient service for borrowers looking to refinance, get a first mortgage or take out a home equity loan. pricelinemortgage gives borrowers the option of selecting one of the specially negotiated mortgages available to qualified pricelinemortgage customers, or they can choose their own customized rates and terms. Borrowers can complete their mortgage application online or by calling a pricelinemortgage loan counselor at the 800 number. pricelinemortgage loan applications are typically answered in six business hours or less.

To emphasize its ability to get borrowers the best price, pricelinemortgage is guaranteeing that it will get borrowers the lowest price qualifying rate on the market at the time, or it will pay them $500. (See web site for details.)

pricelinemortgage customers are protected no matter which way rates go. Once a loan is approved, the agreed-upon rate is locked in. However, if a mortgage rate is locked in, and rates drop before closing paperwork is completed, the applicant automatically gets the prevailing lower rate.

About pricelinemortgage

pricelinemortgage is a mortgage production joint venture between priceline.com and EverBank. A production operation fully private-labeled and managed by EverBank for priceline.com, pricelinemortgage is headquartered in Jacksonville, FL, and operates nationally as an Internet mortgage and home equity loan/line originator. pricelinemortgage has been featured in the Wall Street Journal and on Forbes' Best of the Web list. pricelinemortgage has closed loans in all 50 states, as well as the District of Columbia. pricelinemortgage is an operating subsidiary of a Federal Savings Bank and is an Equal Housing Lender.

About priceline.com

Priceline.com is a travel service that offers leisure airline tickets, hotel rooms, rental cars, vacation packages and cruises. Priceline.com also has a personal finance service that offers home mortgages, refinancing and home equity loans through an independent licensee. Priceline.com operates the retail travel Web sites Travelweb.com, Lowestfare.com, Rentalcars.com and Breezenet.com. Priceline.com licenses its business model to independent licensees, including pricelinemortgage and certain international licensees.

Information About Forward-Looking Statements

This press release may contain forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict; therefore, actual results may differ materially from those expressed, implied or forecasted in any such forward-looking statements. Expressions of future goals and similar expressions including, without limitation, "may," "will," "should," "could," "expects," "does not currently expect," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "targets," or "continue," reflecting something other than historical fact are intended to identify forward-looking statements. The following factors, among others, could cause the Company's actual results to differ materially from those described in the forward-looking statements: adverse changes in general market conditions for leisure and other travel products as the result of, among other things, terrorist attacks; adverse changes in the Company's relationships with airlines and other product and service providers including, without limitation, the withdrawal of suppliers from the Priceline.com system; the bankruptcy or insolvency of another major domestic airline; the effects of increased competition; systems-related failures and/or security breaches; the Company's ability to protect its intellectual property rights; losses by the Company and its licensees; final adjustments made in closing the quarter; legal and regulatory risks and the ability to attract and retain qualified personnel. For a detailed discussion of these and other factors that could cause the Company's actual results to differ materially from those described in the forward-looking statements, please refer to the Company's most recent Form 10-Q, Form 10-K and Form 8-K filings with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

*Quoted rate examples are based on a $250,000 loan ($335,000 for jumbo programs) with a loan-to-value ratio of 80% for a single-family owner-occupied purchase in Florida. ARM loans include adjustable rates that may change after initial fixed-rate period. Available rates may vary depending on date. Rates and terms as of 07/12/04 and may change without notice. Rate 5.625%, APR 5.669%. 360 equal payments calculated at $5.78 per $1,000 borrowed. Rate 5.000%, APR 5.065%. 180 equal payments calculated at $7.91 per $1,000 borrowed. Rate 6.000%, APR 6.020%. 360 equal payments calculated at $6.01 per $1,000 borrowed. Rate 4.125%, APR 4.451%. 360 equal payments calculated at $4.85 per $1,000 borrowed. Rate 4.625%, APR 4.606%. 360 equal payments calculated at $5.14 per $1,000 borrowed. Fixed rate loans include points and origination fees. Loan subject to property and credit approval. A $395 credit card charge will be applied for all rate lock guarantees. Pre-approval is based solely on the credit portion of your application and is not a loan commitment. Final mortgage approval is subject to the receipt of an appraisal of the property you wish to purchase.

**The ANNUAL PERCENTAGE RATE is based on the highest domestic prime rate set forth in the Money Rates section of the Wall Street Journal plus an index. As of July 12, 2004, the ANNUAL PERCENTAGE RATE was 4.25%. The ANNUAL PERCENTAGE RATE is variable and subject to change. The maximum ANNUAL PERCENTAGE RATE is 18%. Your plan will have a $50 annual fee. Estimated closing costs on a $35,000 line may range from $0 to $1000. You must carry property insurance (and may be required to carry flood insurance) on the property that secures your plan.