Whatever Happened to... Cindy Spurdle, former Exec. Dir. NAELB?
In Tomorrow's Edition---a promise
Sierra Cities To Make Announcement before September 30
In Wednesday edition, if not before

Headlines

www.internetcapital.com Enters Internet Fray via www.emarketcapital.com
    Debbie Monosson Named President!!!!!
        Summit National Launches Latest Web-enabled Application Program
             "Super Broker" Martin Gets 15 years for Leasing Fraud in Sacramento, California
                    Former AT&T'er Tenner Joins Leaseforum

Congratulations to Debbie Monnosson

She didn't tell me at the United Association of Equipment Leasing Conference the weekend before last, but on September 7 she succeeded her father A. "Sonny" Monosson, who started Boston Financial and Equity in 1968.

His company was one of the first to take very high risk credits, specialize in high technology equipment to venture start-up companies. Its first client was NASA when it leased a DEC 780 computer to them. The U.S. Government only wrote one year leases at that point in time, and Boston Financial took the risk of getting the DEC 780 back after one year. That computer brought back the first photos of Mars and Venus for the world to see.

Their clever cartoons appears in many industry newspapers and often are faxed to brokers, who they seek business. While the commissions are usually only one percent and usually paid thirty days after the funding of the lease ( that is my personal experience ), they have a definite niche in the marketplace.

A press rlease says Debbie joined Boston Financial & Equity Corporation on September 11, 1989, as a National Accounts Executive. Debbie calling on Vendors, Venture Capitalists, Banks, Finance companies, and Leasing companies selling Boston Financial & Equity's High-Risk Leasing services. During those years and the following years, Debbie worked with the Credit department, the Advertising department, and the Accounting department.

Debbie is active in outside organizations in the financial community. She was elected to the Board of Directors of the Commercial Finance Association and subsequently to its prestigious "Executive Committee".

During the same period of time, she became a Trustee of the Equipment Leasing & Finance Foundation and subsequently its Treasurer. Other business interests include the Massachusetts Institute of Technology Enterprise Forum, where she serves on their Board of Directors. In addition, her activity in the Eastern Association of Equipment Lessors resulted in her election to its Board of Directors.

Debbie was promoted to Vice President in 1982, Vice President of Marketing and Sales in 1993, Senior Vice President in 1996, and added the responsibilities of Clerk of Boston Financial & Equity Corporation in 1998. Debbie received her BS degree in Business from Skidmore College and an MBA from Boston University.

Adolf F. "Sonny" Monosson has moved to the position of Chairman of the Board where his day to day activities will not be line functions but board level decisions only. For more information, contact Sonny Monosson at (617) 267-2900. And if you can't reach him, ask for Debbie. She usually takes most of his calls, anyway.

Internet Capital Group Acquires Stake in eMarket Capital -- Continues to Bolster Resources in Key B2B E-commerce Service Sectors Where Company has a Strong Presence

WAYNE, Pa.--(BUSINESS WIRE)--Sept. 25, 2000--

Online leasing facilitator is strategic to Internet Capital Group's B2B e-commerce network and further strengthens company's leadership

position in financial services

Internet Capital Group (NASDAQ:ICGE), a leading business-to-business (B2B) e-commerce company, today announced that it has taken a stake in eMarket Capital, an innovative web-based lease financing company, for approximately $5 million in cash.

eMarket Capital, a privately-held company headquartered outside of Philadelphia, provides customized private-label services that make it easier for manufacturers and their agents to offer leasing to customers. The company lowers lenders' origination costs and arranges lease financing in a way that can benefit all parties with speed, lower cost and convenience.

"Frictionless financial transactions are critical for online e-commerce and ICG is deeply committed to transforming this market through financing solution providers like eMarket Capital and eCredit.com," said Chris Klein, managing director at Internet Capital Group (ICG). "eMarket Capital brings to us strong domain expertise in leasing and an entrepreneurial spirit - making it an immediate synergistic fit with other members of our partner company network. We're excited to put our resources and expertise behind eMarket Capital to help support its growth and long-term success."

Nearly one-third of all capital equipment purchased in the United States is financed with a lease, amounting to approximately $240 billion worth of financing. eMarket Capital is focusing on lease transactions in the $5,000 to $1 million range, which makes up more than 50 percent of the total annual market.

"The capital equipment leasing industry suffers from lack of standardization and centralization -- making it a market which is ripe for transformation," said Jonathan Moran, founder and CEO of eMarket Capital. "Our relationship with ICG will enable us to more quickly deliver workable solutions to meet an enormous market need. We look forward to leveraging the ICG B2B e-commerce network to facilitate major changes in the online financing arena by saving borrowers and lenders in the leasing market both time and money."

About eMarket Capital

eMarket Capital (http://www.emarketcapital.com), a privately held company headquartered in Phoenixville, PA, offers fully customized, private-label leasing services on a turnkey basis to equipment manufacturers and their agents, who in turn offer leasing to their customers. eMarket Capital brings together equipment manufacturers, their customers and lenders in a mutually beneficial process that speeds lease approval while it ensures that customers gain the advantage of a competitive bidding process. The company was established in 1999 by veterans of the leasing industry who knew from personal experience that there had to be a better way to provide lease financing to businesses.

About Internet Capital Group

Internet Capital Group (http://www.internetcapital.com) is an Internet company actively engaged in business-to-business e-commerce through a network of partner companies. It provides operational assistance, capital support, industry expertise, and a strategic network of business relationships intended to maximize the long-term market potential of more than 70 business-to-business e-commerce companies. Headquartered in Wayne, PA, Internet Capital Group has offices in San Francisco, Boston, Seattle, London, Munich, Paris and Tokyo.

CONTACT:

Internet Capital Group

Michelle Strykowski, 415/343-3753 (Media inquires)

mstrykowski@internetcapital.com

Sherri Wolf, 617/531-4882 (Investor inquiries)

swolf@internetcapital.com

Pioneering Web Service Aims to Transform 200 Billion Capital Equipment Leasing Industry

eMarket Capital's Patent Pending Solution Promises to Create Win-Win Lease

Financing for Manufacturers, Customers and Lenders

Internet Capital Group Announces $5 Million Dollar Stake in Company

PHOENIXVILLE, Pa., Sept. 25 /PRNewswire/ -- eMarket Capital, Inc. (http://www.emarketcapital.com) announced today the launch of an innovative Internet service that uses a patent pending process to enable equipment manufacturers to help their customers secure the fairest and most competitively-priced lease financing plans. Concurrently, Internet Capital Group, (Nasdaq: ICGE), (http://www.internetcapital.com), a leading business-to-business (B2B) e-commerce company, announced that it has taken a stake in eMarket Capital, for approximately $5 million in cash.

eMarket Capital is a free service for both manufacturers and their customers. Major benefits to manufacturers include "enhanced customer loyalty, increased revenues and the elimination of financial risks associated with standard leasing arrangements," said Jonathan Moran, eMarket's founder. The lessor (lender) pays a below market origination fee when selected through the Web site.

Gary Bennett, CFO of Gerber Scientific, Inc, a leading supplier of computer-based systems, equipment, software and supplies and one of the first adopters of eMarket's Web-based leasing model, added that "Our company has always aimed at maintaining a competitive edge. Now, with eMarket's help, we can offer our customers a service they cannot find elsewhere. They simply fill out an application on the Gerber Scientific Web site, and multiple lenders bid for their business. Within one business day, they have the lease they want. It's fast, it's easy, and through eMarket we even provide the information they need to compare lender bids on an apples-to-apples basis."

"Finding a fair leasing plan is difficult and often leaves the manufacturer's customers feeling like they've received a bad deal, no matter how much time and effort they have invested in the process," said Moran. "Our service revolutionizes the entire lease financing process. Prospective borrowers receive bids from several lenders that meet their leasing requirements, as well as bottom-line costs associated with each bid. This gives them the information they need to compare plans and select one that is fair and affordable."

eMarket Capital is focusing on leasing transactions in the $5,000 to $1 million range which makes up over 50 percent of the $200 billion yearly leasing market. "These deals are typically less complicated and more suited to the quick turnaround nature of the Internet," Moran said. "Drill presses, electron microscopes, computer networks and medical laser equipment are just a few of the items that hundreds of thousands of companies will acquire through lease financing this year."

To begin the process, customers are directed to the manufacturer's Web site. eMarket Capital is designed as a co-branded site which gives the appearance that the vendor is providing the financial service directly. Customers provide their credit history, capital needs and related information to eMarket Capital through a secure browser. eMarket Capital scores the prospective borrower's capital requirements and delivers potential deals to lenders or specific credit analysts that have been pre-approved by the manufacturer. Lenders reply yes or no or request additional information.

Ultimately, the customer receives several bids and bottom line data on each proposal's annual percentage rate and net present value-information that is normally not made available to customers in traditional leasing transactions because lenders are not required to provide it.

In addition to co-branding, eMarket Capital offers manufacturers many other benefits, including:

-- The ability to build customer loyalty. "Customers will appreciate amanufacturer for offering a service that will provide them with a leasing plan that is honest and fair," said Moran.

-- Little or no risk. "Many lender programs require the equipment manufacturer to bear the risk of the leasing program-re-marketing equipment when it comes off lease and assuming liability for transactions that default," he explained. "The service lets the market bear the risk, reducing or eliminating vendor obligations."

-- The ability to better manage lenders. Because eMarket Capital keeps data on lender quality, a manufacturer can use the data to manage their lenders in the program and improve customer relations by offering only those lenders who give the most value.

-- Opportunity to continue relationships with other lenders. eMarket Capital does not preclude vendors from using existing lenders.

-- Potential to increase sales and improve gross margins. "Leasing has been proven to increase the bottom line, giving equipment manufacturers a way to close more deals faster," Moran said. "Leased deals generally preserve earnings, taking the emphasis off total cost and moving the focus to monthly payments."

"Frictionless financial transactions are critical for online e-commerce and Internet Capital Group (ICG) is deeply committed to transforming this market through financing solution providers like eMarket Capital," said Chris Klein, managing director at ICG. "eMarket Capital brings to us strong domain expertise in leasing and an entrepreneurial spirit -- making it an immediate synergistic fit with other members of our partner company network. We're excited to put our resources and expertise behind eMarket Capital to help support its growth and long-term success."

For more information visit the Web site at www.eMarketCapital.com or call 800-994-4369.

SOURCE eMarket Capital, Inc.

CO: eMarket Capital, Inc.

ST: Pennsylvania

IN: CPR MLM

SU:

Summit National's Web-enabled Application Processor - State-of-the-Art System for Tracking Leases in Progress

The AP2000™ Web-enabled Application Processor provides a state-of-the-art system for tracking leases in process. A customizable form is placed directly on your website allowing customers to securely submit lease and credit applications online. The complete application is immediately transferred to your credit department via AP2000™) and once approved is then electronically forwarded to most any backend lease accounting software system. This processor was designed with the flexibility to work with most backend systems including our Maxxum™, Optima™ and Millennia™ products.

AP2000™ allows authorized employees to have remote access to real-time information on the pending leases while allowing customers the ability to track the progress of their own applications online. How does AP2000™ benefit you?

Eliminates lease application data entry, reducing administrative overhead costs Accelerates deal inception by reducing turnaround time Increases efficiency and accuracy of lease transactions Allows unlimited transaction capacity
AP2000™ is a system that processes the lease transaction from start to finish. It provides a way to streamline your operation and reduces the possibility of human error. The hardware/software requirements needed to run this program are a PC, a website, an internet connection, and a lease accounting software system.

For more information, contact: Ken Duffy kduffy@sumnat.com

Martin gets 15 years for bogus deals: Ex-convict swindled millions from firms, duped area lawyer
By Denny Walsh
Sacramento Bee Staff Writer

Curtis R. Martin Jr., reputed king of latter-day Sacramento swindlers, was sentenced Thursday in federal court to 15 years and 8 months in prison for bilking financial institutions and a computer distributor out of millions of dollars.
Martin, 42, pleaded guilty in May to mail and wire fraud, interstate transportation of fraudulently obtained property, and money laundering.
It took less than a year -- from the spring of 1998 to the spring of 1999 -- for Martin, an ex-convict with a long history of white-collar crimes, to quarterback a series of crooked deals that sent ripples through the Sacramento area's business and legal communities, according to a grand jury indictment.
Operating from a plush suite of offices in the Wells Fargo Bank building, he picked the pockets of IBM Credit Corp., Inacomp Computer Systems of West Sacramento, Pinacor Inc. of Tempe, Ariz., and others.
Further, he duped a Sacramento attorney into giving up his private practice to become general counsel of Martin's phony corporation.
When the attorney learned of Martin's criminal history, he alerted federal prosecutors. Martin contends that the attorney acted unethically and plans an appeal with that as the centerpiece. According to the testimony of IRS Special Agent Steve Delaney, Martin's victims suffered losses in excess of $10 million. He laundered the money through his corporate bank account at Wells Fargo, Delaney testified.
During a sometimes emotional two-day sentencing hearing, U.S. District Judge William B. Shubb said Martin's schemes were "extremely sophisticated, as evidenced in part by my own frustrated lack of ability to understand all the details."
At the urging of Assistant U.S. Attorney R. Steven Lapham, the judge hiked the sentence because, Shubb found, Martin is the equivalent of a career criminal who will probably steal again. "Unfortunately, it's not a likelihood but almost a certainty" that he will revert to a life of crime, the judge said. "He is a con man to the bone."
Referring to Martin's appearance Wednesday as a witness at the hearing, Shubb said:
"Mr. Martin sits on the stand and still plays the game. The legitimate-businessman facade will be there as long as he's alive."
Lapham, a veteran of high-profile cases who was one of the prosecutors of convicted Unabomber Theodore Kaczynski, argued for an even higher sentence, telling the judge, "I've rarely seen an individual as malevolent" as Martin.
But Lapham had a worthy opponent in defense attorney Bruce Locke, who persuaded Shubb to impose less time than the prosecutor had sought.
A weeping Martin told the judge Thursday that he had planned "to do everything in my power" to see that Inacomp was repaid. He admitted, however, lying to company representatives "to buy time." "This all resulted in me trying to be something I'm not," Martin said. "I saw myself as a very successful African American businessman in this country.
"I'm not an athlete or an entertainer, but I aspired to a very nice life. I didn't want it to come to this." Martin, with the help of two others -- Justina Cheung and William Yu -- stole the identity of CCM Capital Corp., an actual subsidiary of Hong Kong-based Mingly Corp. Ltd., but with no presence in the United States. Using the real company's financial and other data, Martin presented himself as its top officer in the United States, and manager of its portfolio in this country.
He used a fraudulently secured IBM line of credit, an anticipated increase of that credit, worthless CCM checks, and a bogus guarantee on Wells Fargo letterhead to lease millions of dollars worth of computer equipment from Inacomp, ostensibly for CCM's use in its Sacramento, San Francisco, Palo Alto and Hong Kong offices. Instead, he sold the equipment at a discount to vendors throughout the United States and Canada.
In another venture, Martin admitted partnering with computer dealer Vladimir Slov to scam Pinacor, which specializes in short-term business financing of inventory and equipment.
Taking advantage of an existing line of credit that Slov's Los Angeles company, New Wave Techart, had with Pinacor, the pair financed Martin's "sale" of nonexistent computers to New Wave through Pinacor.
FBI Special Agent Paul Artley testified that Martin told him in a post-arrest interview that he and Slov "planned to do a deal like this monthly."
Locke argued -- and his client testified -- that Martin intended to pay everything he owed through the development of gas stations. They sought to show that Martin had bought several pieces of property and had secured commitments from major oil companies to help finance construction of stations on the parcels.

Shubb expressed outright disbelief that such a plan, if there was one, had any chance of becoming reality.
Lapham argued that the sentence should be lengthened because Martin had perjured himself in his testimony on the matter.
The judge rejected the request, however, saying the scenario was so outlandish that it didn't deserve to be part of his sentence deliberations.
"It's so absurd that it benefits him," Shubb said. "I'm not going to give him the satisfaction of finding it materially false."
Yu, 26, and Cheung, 27, have pleaded guilty to their roles in the elaborate canard and are awaiting sentencing.
Slav, 45, also was charged, but is a fugitive.

LeaseForum Appoints James Tenner to Board of Directors; Internet Pioneer From Leasing Industry Provides Strategic Insight

BOSTON--(BUSINESS WIRE)--Sept. 25, 2000--LeaseForum, Inc., the premier lease and asset management solutions provider offering lessees an integrated suite of Web-based tools to manage the leasing lifecycle, announced today the appointment of James Tenner as a member of its board of directors.

Mr. Tenner was formerly the president and chief operating officer of the Family Education Network, Inc., (FEN), the Internet's largest and fastest growing school and parent network dedicated to children's learning. He was central to FEN's rapid growth, formation of its strategic equity alliance with Internet powerhouse America Online (NASDAQ:AOL), and the recent sale of FEN to international media giant Pearson, PLC.

Prior to FEN, Mr. Tenner was president and chief operating officer of AT&T Capital Leasing Services, the small ticket vendor-leasing arm of AT&T Capital (acquired by CIT in 1998). A driver in leading AT&T's Internet-based offerings, Mr. Tenner was responsible for the day-to-day leadership of 500 employees, growing key vendor relationships, and managing its multi-billion dollar portfolio.

One of five founding members of AT&T Capital, Mr. Tenner held key roles at AT&T and AT&T Capital, including president of AT&T Credit Corporation, senior vice president of marketing of AT&T Easylink Services, and director of AT&T Global Messaging Services. He earned his undergraduate degree in economics from Middlebury College and his MBA from the Amos Tuck School of Business Administration at Dartmouth College. Mr. Tenner currently serves on the board of or as an advisor to a number of emerging companies in the Boston area.

"James Tenner is a pivotal addition to our board of directors," said Susan S. Franklin, president and CEO of LeaseForum. He brings Internet-tested skills, strong operational expertise, and deep domain experience that are valuable to our growth strategy. His participation on our board is an endorsement of our success in providing quality solutions and services that are driving the $226 billion commercial equipment leasing industry."

"LeaseForum's offerings are right on target with customer needs," commented Mr. Tenner. "I have a great degree of confidence in and respect for the management team and look forward to working with its members to help grow the business."

About LeaseForum

Headquartered in Boston's financial district, LeaseForum is the premier equipment leasing solutions provider offering lessees an integrated suite of Web-based solutions for managing the leasing lifecycle. LeaseForum enables lessees and lessors to originate leases, manage them across the enterprise and remarket off-lease or surplus equipment. For more information visit www.leaseforum.com or www.remarketxchange.com.

CONTACT:

LeaseForum, Inc.

Susan S. Franklin

(617) 443-9910

ssf@leaseforum.com

or

Donovan Group

Philip O'Brien or

Billy Balfour

(508) 393-1433

pobrien@donovangroup.com

bbalfour@donovangroup.com

PHILADELPHIA (BUSINESS WIRE) - Commercial customers of First Republic Bank (NASDAQ:FRBK) can now finance up to $1 million in equipment through the bank's new leasing arm, First Republic Leasing.

Republic First Bancorp, Inc. today announced that its wholly-owned subsidiary, First Republic Bank, has established First Republic Leasing as a unit within the bank to deliver leasing products for business equipment financing from $5,000 to $1 million.
The small-ticket lease product broadens the scope of financial services offered to the bank's commercial and municipal customers, while providing additional growth and income to First Republic Bank. Equipment leasing becomes the bank's fourth new commercial lending product this year, joining construction financing, small business administration financing and asset-based lending.
"We constantly seek opportunities to provide our commercial customers with a full product array," said First Republic CEO Bob Davis. "Recognizing that more and more businesses today lease their essential business equipment, we felt our clients should have access to these leasing services."
Leasing offers a financing alternative that often keeps debt lines free for emergency cash flow and investment needs. Leasing may also present off-balance-sheet financing with tax advantages. Today, eight out of 10 U.S. companies lease some or all of their equipment. In 1999, it is estimated that leasing accounted for 30 percent of all business investment, or $226 billion.

First Republic Bank, Philadelphia and Republic First Bank of Delaware are full-service, state-chartered commercial banks and members of the Federal Reserve System, with deposits insured by the Federal Deposit Insurance Corporation (FDIC).
The banks provide diversified financial products through their eight offices located in Abington, Ardmore, Bala Cynwyd, East Norriton, Philadelphia and a sister bank, Republic First Bank of Delaware, in Wilmington.