CONCORD, Calif., March 6, 2006-Exadel, Inc., a leading provider of software, services and support that enable companies to create mission-critical business applications based on open source and Java™ technologies, today announced that First California Mortgage Company (First Cal), a leading California-based mortgage bank, has chosen Exadel’s Professional Services and software to design and deploy a complex online business application providing real-time mortgage quotes and mortgage application status feedback to its broker network.

Rapidly fluctuating mortgage rates combined with increasing customer demand for mortgage application feedback helped First Cal realize the need to better prepare its broker network with a software application capable of providing real-time mortgage information. Without relevant in-house experience and technology resources, First Cal decided to extend its software development team via partnership with a qualified open source development organization.

"Some large market leaders spend millions to produce this type of technology," said Christopher K. Hart, principal owner at First Capital Mortgage Company. "Exadel Professional Services helped First Cal produce a system far superior to existing online mortgage applications."

Exadel’s consulting services and tools remove the open source learning curve for its customers by reviewing organizations’ network infrastructures and offering the best solution for each project to meet its specifications and requirements. First Cal was attracted to Exadel’s previous experience deploying open source projects for financial services organizations. In addition, Exadel’s co-shoring business model offered a project management team in Exadel’s Bay Area offices as well as in its Minsk facility. The First Cal team was able to interact with a local project manager, while utilizing Exadel’s offshore development team for optimal cost-savings.

Exadel’s consulting services and tools remove the open source learning curve for its customers by reviewing organizations’ network infrastructures and offering the best solution for each project to meet its specifications and requirements. First Cal was attracted to Exadel’s previous experience deploying open source projects for financial services organizations. In addition, Exadel’s co-shoring business model offered a project management team in Exadel’s Bay Area offices as well as in its Minsk facility. The First Cal team was able to interact with a local project manager, while utilizing Exadel’s offshore development team for optimal cost-savings.

"Throughout the project, Exadel helped us control costs on-time and on budget – which is tough to find in an outsourcing market," Hart added. "We found that Exadel’s expertise and dedication helped us to solve most any problem.  Being able to work closely with a local project manager and the company’s CEO also gave our development project a personal touch, which is in sync with First Cal’s ideology."

"Our large customer base is furthering Exadel’s success," said Fima Katz, founder and CEO of Exadel, Inc. "As more and more organizations see Exadel’s end-product, they realize the benefits of choosing an open source development partner to tap into added resources and expertise for building outstanding, cost and time-effective applications using open source development tools."

First California Mortgage Company was founded in 1977 as a California based mortgage banker. First California Mortgage Company has funded more than 300,000 residential loans to date in California and nationally as Mortgage Service America.

During 1977 to 1995, the company provided loans to more than 180 builders in more than 2,000 new home subdivisions throughout the western United States. In 1986, First California Mortgage Company expanded its operations and opened a wholesale division called Headlands Mortgage Company, employing more than 850 people in 10 regional centers, until its sale in 1999 (currently Greenpoint Mortgage). In 1993, First California Mortgage Company and Mortgage Service America employed more than 2,500 people, including 510 loan origination officers at 108 locations in 42 states. In 1995, First California Mortgage Company sold its retail loan servicing and origination operations to GMAC (currently Homecomings Financial).

The history and proven strength of First California Mortgage Company is invaluable in today’s operations as we continue after more than 26 years to serve the broker community throughout California. For more information, go to www.FirstCal.net or call 877.885.3262.

Exadel, Inc. is a leading provider of software, services, and support that enable companies to create mission-critical business applications based on open source and Java technologies.  Offering unmatched expertise at building reliable business solutions, Exadel solves real business problems for hundreds of domestic and international clients, including ABN AMRO Bank (www.mortgage.com), AT&T, Bank of America, eBay, Echopass, GE, Honeywell, and Time Warner.  Exadel's fast, scalable and cost-effective solutions reduce application lifecycle costs and development time, eliminating vendor lock-in and improving overall client productivity.

Exadel's product line includes Exadel Studio Pro, the most advanced Web application development toolset designed for open source, which supports JSF, Struts, Hibernate, Spring and many other platforms. Exadel services include custom online and onsite training, Exadel Development Boost and Exadel Professional Services. Founded in 1998, Exadel is privately owned and located in the San Francisco Bay Area with development offices located in Chicago, Minsk and Moscow.  For more information, go to www.exadel.com or call 1.888.4EXADEL.