LOGS and Prizm Technologies Form Strategic Alliance

LOGS Financial Services, Inc., a Northbrook, IL-based national provider of proactive default management solutions, and Prizm Technologies, Inc., a technology-based infraservices outsourcing firm headquartered in Charlotte, NC, have formed a strategic alliance to create the next generation of process-driven solutions for their respective customers in the mortgage-servicing industry.

NORTHBROOK, IL, January 14, 2002-LOGS Financial Services, Inc., a Northbrook, IL-based national provider of proactive default management solutions, and Prizm Technologies, Inc., a technology-based infraservices outsourcing firm headquartered in Charlotte, NC, have formed a strategic alliance to create the next generation of process-driven solutions for their respective customers in the mortgage-servicing industry.

Prizms qualitative process reengineering uses a four-step business approach to technology: asset management, availability management, change management and service management. The change-management process will particularly benefit lenders by enhancing the quality of services delivered by their field counsel, including the advancement of key internal metrics for measuring and reducing the risk of credit loss.

Prizm will help us evolve the next generation of custom workflow solutions for our clients in order to measure and manage the liquidation of delinquent loans to a 'best-in-class standard," says Gerald M. Shapiro, chief executive officer of LOGS. Prizm will provide valuable assistance to LOGS in performing current state analyses of our customers technological capabilities and building tools for use by foreclosure and bankruptcy counsel to increase the efficient management of their legal processes."

About LOGS Financial Services, Inc.
With 31 years of experience in default management, LOGS Financial Services, Inc. offers a complete package of outsourced default management services for lenders nationwide-concentrating on the risk-sensitive areas of foreclosure, bankruptcy, eviction, REO management and loss mitigation. LOGS Catapult ® Default Management System, a proprietary software suite, is licensed to attorneys and mortgage lenders throughout the United States and provides integrated, intelligent management tools for servicing defaulted mortgages.

Founder and CEO Gerald M. Shapiro originally established the LOGS Legal Network in 1971 as a network of law firms and trustee companies providing national representation to mortgage lenders. He built the company into an industry leader through the development of the cradle to grave" concept within the default management services sector. In 1999, the company changed its name to LOGS Financial Services, Inc. to better describe its comprehensive offerings.

For more information on LOGS Financial Services, Inc., visit www.logs.com or contact Michelle Cameron at (847) 291-9100 or michellec.hq@logs.com.

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