E-LOAN Joins Russell Indexes

PLEASANTON, CA – E-LOAN, Inc. (Nasdaq: EELN), an online consumer direct lender, today announced that it is set to join the Russell 3000® Index and Russell 2000® Index as well as the new Russell Microcap™ Index. Russell Investment Group reconstituted its family of U.S. indexes on June 24, 2005. Final membership in these Russell indexes will be published on July 1, 2005.

“We are very pleased that our market capitalization has grown to meet the size requirement for inclusion in the Russell indexes,” said Mark Lefanowicz, Chief Executive Officer and President of E-LOAN. “We believe this higher level of visibility is an important turning point for E-LOAN and our shareholders.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. More than $2.5 trillion in assets currently are benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company’s weighting in the particular index.

Membership in the Russell 3000®, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® or small-cap Russell 2000® as well as the appropriate growth and style indexes. Russell determines membership for its equity indexes primarily by objective, market capitalization rankings and style attributes.

The Russell Microcap Index will be comprised of the smallest 1,000 securities in the small-cap Russell 2000® Index plus the next 1,000 companies based on a ranking of all U.S. equities by market capitalization. This new index offers managers and other investors a comprehensive, unbiased barometer to compare their performance against the genuine microcap marketplace of stocks.