July 31, 2000

CIT Moves Stronger into Technology
GATEWAY Computer Leasing Plan for Internet Start-Ups
Free Software From Bob Rodi
( CapitalStream,iLease,LeaseForum,elease, and there are others, provide
internet access and abilities---perhaps the most popular is CapitalStream.
These are generally for "larger users" or "large leasing shops." And/or
for those without the internet expertise. This is to not a
recommendation but to make available to those who are interested
in learning more and become better educated about new trends:
Leasenow.com. Again. This is not an advertisement nor an endorsement.
We publish newsworthy events and press releases and try to remain unbiased.
This is an availability to those who want to learn more from
an experienced internet and leasing individual, who is also
president of the United Association of Equipment Leasing--editor ).


Kit, Thanks very much for including us in your newsletter transmission. It is very informative, and anyone in our business not receiving this letter is missing a lot of useful information. Please keep up the good work. Len Vining, Delta Leasing Company
DeltaLeasingCo@aol.com
( Thank you. We do not add anyone to our newsletter list, unless they specifically request it. I am told the newsletter is sent around by others. We invite that. We invite those in the leasing industry to participate. Thank you again for your kind comments---editor )

CIT CIO Is Named President of Technology Division
LIVINGSTON, N.J.--(BUSINESS WIRE)--July 31, 2000--CIT Equipment Financing, a unit of The CIT Group, Inc. (NYSE:CIT; TSE:CIT.U), and one of the largest equipment financing companies in the U.S., has named John J. Fischer, Jr. President of Technology Financing, a $5 billion unit headquartered in Livingston, NJ.
"We are taking all of the technology financing businesses and consolidating them under John," said Robert J. Merritt, Group CEO of CIT Equipment Financing. "For the past 25 years, John's career has focused on evaluating, selecting, purchasing and installing a broad range of software and computer equipment. He is intimately familiar with technology and understands both the business needs for this equipment and the financial decisions that drive the acquisition of this equipment. He is the ideal candidate to manage the integration of these businesses and drive them to greater levels of success."
For the past eight years, Fischer, 48, served as CIT's Chief Information Office and Executive Vice President. In that position, he was responsible for all of CIT's information technology initiatives, including implementing corporate-wide networks, revamping all major application suites, systems implementation and upgrading the technology support team.
In 1999, for the second consecutive year, Fischer and his IT team helped CIT achieve recognition by Information Week as the No. 1 technology innovator in the financial services industry worldwide. Fischer was also selected as one of the "Premier 100 IT Leaders for 2000" by ComputerWorld.
Prior to joining CIT, Fischer was CIO of the New York Stock Exchange where he was responsible for upgrading the exchange's capacity to handle the two billion share day. He was also Manager of Application Systems at Smith Barney.
Fischer earned a B.S. from Fordham University, an MBA in Business and Systems from Boston University and is a graduate of The Wharton School Advanced Management Program. An active member of the community, Fischer is Chairman of the Advisory Board of New Jersey Institute of Technology's College of Science and Liberal Arts. He is also on the Atlantic Health System's Information Systems Board Advisory Committee, the Board of Advisors for the Eric Johnson House, a home for indigent HIV patients, The Conference Board's Information Management Council and a member of Cancer Care of New Jersey.
He lives with his wife Arlene in Mendham, NJ with their two children Alexandra and Johnny.
CIT Equipment Financing offers companies a wide variety of financial solutions including equipment leasing and financing and small business lending. It is an operating group of The CIT Group (NYSE:CIT, TSE: CIT.U). With $53 billion in managed assets, The CIT Group (www.cit.com) is one of the world's largest commercial and consumer finance organizations.
CONTACT:
Stanton Crenshaw Communications
George Sopko,
212/780-1900
George@stanton-crenshaw.com

Gateway Expands Leasing Program for Start-ups
By Ian Fried, CNET News.com
While some companies might be thinking twice about extending additional credit to new Internet companies, Gateway plans to expand its leasing program to target e-businesses too young to qualify for traditional lending programs.
Gateway plans to announce its eBusiness Accelerator Leasing program, an initiative that would lease up to $1 million in computing gear and services to new Internet companies that have at least one round of funding.
"Many customers that are in this niche don't fit the conservative standards, such as having been in business for two or three years," said Tony Montemurro, senior manager of Gateway's business finance program.
Expanding its business leasing program is part of Gateway's efforts to expand "beyond the box" revenue. The move also comes after Gateway posted disappointing results for its business unit.
To decide whether a company gets financing--and how much--Gateway will take a look at a company's executive team, funding and financial performance. Companies chosen will get from $10,000 and $1 million worth of products financed over anywhere from one to five years.
In some cases, Gateway may make getting a stake in the company a condition of lending. Still, Montemurro said the program is more lenient than ones from rivals such as Compaq Computer because there are no membership fees or commitments to a particular platform.
Montemurro said the program was spurred, in part, by the current downturn in funding for Internet ventures. More customers were asking for help, he said. "We certainly see customers and prospective customers on a daily business whose models we believe in," he said. "We'd really like to help them through the hiccup."
Gateway apparently is comfortable with the added risk.
"They have a (risk structure) that, based on all of our analyses, we're comfortable with," Montemurro said.
July 31, 2000

"LeaseNOW 2000 is free to capital equipment vendors, franchisers, system integrators, and manufacturer's representatives who would like to use LeaseNOW,Inc. as their leasing company. LeaseNOW also offers an affiliation to lease brokers that will allow them to distribute LeaseNOW 2000, free of charge to their vendors. LeaseNOW does not require any payment for the software but there are minimum funding levels that must be achieved to be retained as an affiliate in good standing. LeaseNOW also requires that any transaction that is submitted and approved through LeaseNOW 2000 be funded by LeaseNOW, Inc. LeaseNOW will terminate a affiliate for violating this covenant of the agreement.
LeaseNOW, Inc. will assign a unique source code to each vendor or affiliate that identifies electronically submitted and approved applications and credits them to the proper parties. Users with Adobe 4.0 can also print to the .PDF file format and e-mail a completed set of documents to their customers. LeaseNOW documentation staff will also prepare and e-mail documents. The LeaseNOW 2000 documentation module is totally secure because it uses "images" that can only be viewed. The program automatically merges the information from the LeaseNOW 2000 interface. The completed documents can be previewed and then printed to a printer or .PDF format for distribution." We have also added a toll free number for the "dial up" connection and will still provide an internet connection through our server in the event that the user is away from their office but able to get to a phone line.
You may also want to use some of the following on the bandwidth comments: We have recently added T-1 service and channelized it for our long distance and data access. We identified a pretty cool hardware solution to accomplish this. We bought a piece of equipment called a T-1 integrator from Vina Technologies (a Bay area company) The equipment was about $4,000.00 but the payback from reduced long distance charges alone more than offsets the cost in a few months. In addition (this is the good part) the Vina box "emulates" analog phone service in your building or office. It literally acts like a mini phone switch. The T-1 line goes into it as digital and comes out as analog on the other end so you don't have to upgrade your current phone system. The T-1 integrator also performs all of the routing functions and CSU/DSU. I was able to disconnect and sell my Cisco 2501 router and my Kentrox CSU/DSU to offset the cost. I ordered the T-1 line from MCI/WorldCom at a cost of $690.00 per month. This is not a fractional T-1 but 24 full channels. I don't know about other parts of the country but around here that's a great price. We have reserve the last six channels of the T-1 to add IVR (integrated voice response) capability to our website and software. When that's complete our customers and software users will be able to connect to us using internet telephony. Our phone system, which is a software based PBX that runs on an NT network, is capable of acting as an internet telephony gateway. The entire project cost approximate $7,000.00. Most of my network integrator friends told me it couldn't be done or it couldn't be done for less that $25,000.00. Before the Vina T-1 integrator the only way to channelize a T-1 was to use a high end Cisco router. Even with that solution there was no way to emulate an analog signal. The whole thing had to be digital and the digital cards from dialogic are expensive. ( about $6K apiece for a 24 channel T-1) To really make this pay your long distance bills should be around $1800-$2000 per month. Vina is however coming out with an integrator for DSL lines that will be geared to small and home based businesses. This is an excellent piece of equipment and a great technological solution for staying competitive with our much bigger brothers who have far more to spend on such projects.
Thanks

Bob Rodi
drlease@leasenow.com
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