Countrywide Unites Home Loan and Banking Expertise in New Manhattan Office

CALABASAS, Calif., June 5 /PRNewswire-FirstCall/ -- Countrywide Financial Corporation , America's #1 home loan lender*, today announced the opening of its combination home loan and banking center in the heart of Midtown Manhattan. Traditionally known for its mortgage banking expertise, the Countrywide location will house the services of its rapidly growing bank in the same new Manhattan location where Countrywide Home Loans will also provide mortgage services.

"Countrywide Bank has experienced tremendous growth since our launch just five years ago, due in large part to our unique business model, which leverages the infrastructure of Countrywide's long-time mortgage business," said Tim Wennes, managing director and chief operating officer of Countrywide Bank, N.A. "By working together, we are able to squeeze out the inefficiencies often found in traditional large bank branches and pass those savings on to Manhattan consumers in the form of high yields on CDs and other savings products."

Since its launch in 2001, Countrywide Bank has grown, from $75 million in assets to nearly $80 billion, and now ranks among the top banks in the nation**. The Bank's distinctive business model leverages sister company Countrywide Home Loans' national retail network. With its presence in Countrywide Home Loans branches, Countrywide Bank employs a unique, low-overhead strategy of providing small, expertly staffed financial centers instead of large and costly traditional bank branches.

The majority of the new location will be occupied by Countrywide Home Loans' mortgage consultants who represent the company in the Manhattan area. Home loan consultants work with builders, real estate professionals and prospective home buyers to provide information on a full range of home financing options for both new and existing homes.

"On the mortgage side, we look forward to a continued successful relationship with Countrywide Bank, as we have seen in our other locations that combine financial centers with home loan branches across the country," said Eric Declercq, divisional executive vice president of Countrywide Home Loans. "We are fortunate to have such loyal customers who often look to us for financial services that go beyond mortgage financing, and we are pleased to be able to offer professionals that can provide them with banking and mortgage services all in one convenient location."

The new office, located at 1155 Avenue of the Americas, at West 45th Street, 17th floor, will be hosting a Grand Opening Week beginning June 5th. For more information about products and services, please contact:

- Home Loans -- 800-747-1871 - Banking -- 212-354-2250 *About Countrywide Financial Corporation

Founded in 1969, Countrywide Financial Corporation -- America's #1 home loan lender as ranked for 2005 by Inside Mortgage Finance (Jan. 27, 2006), Copyright 2006 -- is a member of the S&P 500 and Fortune 500. Countrywide, through its subsidiaries, provides mortgage banking and diversified financial services in domestic and international markets. Mortgage banking businesses include loan production and servicing principally through Countrywide Home Loans, Inc., which originates, purchases, securitizes, sells, and services residential loans. The company is headquartered in Calabasas, California and has a workforce of nearly 54,000 individuals and over 800 offices worldwide. For more information about the company, visit Countrywide's Web site at http://www.countrywide.com/.

About Countrywide Bank

Countrywide Bank, N.A., is a member of the Countrywide Financial Corporation family of companies. Countrywide Bank offers consumers highly competitive rates on certificates of deposit and money market accounts and, through its family of companies, also offers quality investment products.*** Customers can review banking products and services, check rates on deposits, and apply for new accounts by phone, online, or at one of the financial centers located throughout the country. In addition, the company offers the same superior rates and unsurpassed personalized service to its business customers through its Premier Business Banking and Commercial Banking Divisions. For more information about Countrywide Bank, visit http://www.countrywidebank.com/. Member FDIC. Equal Housing Lender.

* As ranked for 2005 by Inside Mortgage Finance (Jan. 27, 2006), Copyright 2006

** Based on current assets and other banking data reported to the Federal Deposit Insurance Corporation (FDIC) quarterly.

*** Investment and insurance products are not deposits, not FDIC insured, not guaranteed by any bank, not insured by any Federal Government agency and may lose value.