EELN E-Loan (MM)

E-LOAN(R) Financing for ZAP Cars Now Available Consumer Financing to Include New SMART Car From Europe SANTA ROSA, Calif., Dec. 14 /PRNewswire-FirstCall/ -- Automotive technology pioneer ZAP (OTC:ZAPZ) (BULLETIN BOARD: ZAPZ) announced today that E-LOAN(R) (NASDAQ:EELN), an online consumer direct lender, is now providing consumer financing for ZAP's entire line of energy-efficient automobiles, including the new SMART Car. "ZAP and E-LOAN are both passionate about providing consumers with efficient products that make their lives better," said Steve Schneider, Chief Executive Officer of ZAP. "By working with E-LOAN, we're able to make these automobiles a cost-effective alternative for consumers from financing to the gas pump. We believe that making these vehicles easier to purchase will help advance the cause of a more energy efficient automotive fleet for the US." E-LOAN will also provide consumer financing for the new, fuel-efficient SMARTCAR. ZAP unveiled the SMART Car to U.S. consumers in November at the San Francisco International Auto Show by announcing that the U.S. Environmental Protection Agency has issued a Letter of Conformity for the two-seat microcar. This regulatory approval clears the way for ZAP to begin organizing US marketing and distribution with a near-term goal of 150 dealer outlets by second quarter of fiscal year 2005. "E-LOAN is thrilled to work with ZAP to make it easier and more cost effective for consumers to purchase these socially responsible energy efficient cars," said Chris Larsen, Chairman and Chief Executive Officer of E-LOAN. "We believe that by making financing more readily available to ZAP car buyers, we're playing an important role in the rapidly expanding energy efficient car market, which benefits consumers and the environment." By clicking on the financing links at http://www.zapworld.com/ or going directly to http://www.eloan.com/, consumers can quickly and easily shop for rates without entering any personal information, and compare products to determine which loan best suits their individual needs. When they're ready to apply, consumers complete a 5-minute online application and receive a decision within 15 minutes during regular business hours. Once approved, E-LOAN will issue the customer a PowerCheck(SM), which works just like a personal check. Approved customers can then purchase any of ZAP's energy-efficient automobiles, including the new SMART Car, as fast as 24-hours after they apply. About ZAP ZAP has been a leader in clean transportation technologies since 1994, delivering more than 85,000 vehicles to customers in more than 60 countries. A public company, ZAP is traded on the Over-the-Counter stock exchange under the symbol ZAPZ. The company offers a variety of advanced technology vehicles, including electric cars, bicycles, scooters, motorbikes, underwater scooters and more. For more information, visit http://www.zapworld.com/ or call 707-525-8658. ZAP is not affiliated with, or authorized by, smart gmbh, the manufacturer of SMART automobiles, or the smartUSA division of Mercedes-Benz LLC, the exclusive authorized U.S. importer and distributor of those vehicles. ZAP purchases its vehicles from non-affiliated direct importer Smart-Auto LLC. About E-LOAN, Inc. E-LOAN is an online consumer direct lender dedicated to providing borrowers across the credit spectrum with a more enjoyable and affordable way to obtain mortgage, auto and home equity loans. By making credit scores freely available to consumers and integrating them with a suite of sophisticated advice tools, E-LOAN is pioneering the nascent debt management advice category -- helping consumers proactively manage their loan portfolios to lower their overall borrowing costs. The company relentlessly advocates eliminating the unnecessary processes, fees, hassle, haggle and lack of transparency traditionally associated with the consumer loan experience. Protecting consumers' financial privacy is a paramount concern, prompting E-LOAN to implement industry leading privacy practices and advocate strong consumer financial privacy protection laws. In June 2004, an independent study conducted by TRUSTe and The Ponemon Institute ranked E-LOAN as one of the top 20 most trusted companies for privacy in America. E-LOAN was the highest ranked online financial services company to make the top 20. Consumers can log onto http://www.eloan.com/ or call 1-888-E-LOAN-22 to access E-LOAN's products, services and team of dedicated loan and debt advice professionals. E-LOAN is publicly traded on the Nasdaq National Market under the symbol EELN. From inception through September 2004, E-LOAN has originated and sold over $22.8 billion in consumer loans. This news release contains forward-looking statements based on current expectations that involve risks and uncertainties. E-LOAN's actual results may differ from the results described in the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, general conditions in the mortgage and auto industries, interest rate fluctuations, and the impact of competitive products. These and other risk factors are detailed in E-LOAN's periodic filings with the Securities and Exchange Commission. DATASOURCE: ZAP CONTACT: media, Alex Campbell, +1-707-525-8658, ext. 241, or , or investors, Steven Kim, +1-707-525-8658, ext. 298, or , both of ZAP; or, media & investors, Tiffany Fox of E- LOAN, Inc., +1-925-847-6314, or Web site: http://www.eloan.com/ Web site: http://www.zapworld.com/

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