TOP EXECUTIVE AND DIRECTOR TO BE APPOINTED CEO OF SECURITY ASSET CAPITAL CORPORATION

SAN DIEGO, Calif. February 13, 2003 - - Security Asset Capital Corporation (OTCBB: SCYA) announced today that Daniel J. Hill will become Chief Executive Officer of Security Asset Capital Corporation subject to Board Approval.

Mr. Hill has been a Director of the Company since 1998 and will be filling the position vacated by David Walton, who has been with the Company for ten years. Mr. Hill has over 25 years management experience in the high technology electronics business, where his focus has been high growth companies, startups, and turnarounds. From 1999 to 2001, Mr. Hill was Executive Vice President and Chief Operating Officer of Cerprobe Corporation, a NASDAQ traded semiconductor equipment company. Mr. Hill directly oversaw the operations of 9 manufacturing plants in 8 countries and played a significant role in helping the company double revenues and return to profitability. Additionally, Mr. Hill was an integral part of the sale and transition of Cerprobe to Kulicke & Soffa Industries, Inc. ((NASDAQ: KLIC), where shareholder value was increased from $50 million to $200 million through January 2001. From 1998 to 1999 Mr. Hill was Executive Director for Price Waterhouse Coopers responsible for the firms focus on the semiconductor industry. From 1995 to 1998 Mr. Hill was the Founder and Chief Executive Officer of 1ST SILICON previously InterConnect Technology located in Sunnyvale, CA & Kuching, Malaysia. Mr. Hill effectively structured and closed funding agreements with equity partners and banks to finance construction of a $180 million R&D center in California, and a $1.4 billion foundry in Malaysia. From 1991 to 1995 Mr. Hill was President, Chief Executive Officer and Chairman of Board for Micro Component Technology (MCTI) in St. Paul, MN. MCTI had operations and manufacturing in the UK, France, Germany, Italy, Malaysia, Singapore and Japan. From 1980 to 1991 Mr. Hill held various positions with National Semiconductor, Santa Clara, CA. including, Vice President, General Manager of their Discrete Products Division, and Managing Director of Malaysian Operations where he was responsible for over 6,000 employees. Recent accomplishments include, in July 2002 being a participant in an industry roundtable held by The Conference Board" and Stanford Law School as a post Enron, post mortem for creating a Blueprint for Best Corporate Governance Practices and early warning systems. Mr. Hill is a renowned industry speaker and publisher in the semi-conductor field and has served on the board of 20 different technology companies in 8 countries.

About Security Asset Capital Corporation

Security Asset Capital Corporation is a technological leader in the financial services industry. The Companys products and services provide increased efficiency and performance in the consumer debt settlement segment of the financial services marketplace. Through its debt resolution systems, the Company assists account owners and consumers with negotiating and settling their accounts. Integrated with the Debt Registry, the only patented registration system for tracking of debt, the company expects to dominate the $1.7 trillion charged off consumer debt marketplace. The Companys innovative, patented protected technology solutions allow financial institutions such as banks, credit card issuers, debt collectors and consumers to increase the efficiency and speed of settling outstanding credit card debt. The Debt Registry is a national account registration and tracking system, which allows debt owners, debt collectors and consumers with credit card debt to locate, track and verify their debt portfolios. The company plans to offer debt owners title and liability insurance with a system designed to bring conformity and efficiency to a previously informal environment. The system provides protection to both sides of a loan portfolio sales transaction and offers an on-line account location feature for the benefit of the consumer.

NOTE: Security Asset Capital Corporation also owns subsidiaries Broadband Technologies Inc, which provides direct full motion video on demand and thedebttrader.com , a portal designed to purchase and sell portfolios of debt on the internet.
For further information, please call Earle Zimmerman 800-954-8700 or visit the website at: http://www.securityasset.com. Or email: mailto: mail@securityasset.com
This news release includes forward-looking statements" that include risk and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the Companys ability to produce and market products and/or services and other risks detailed from time to time in their Companys reports filed with the Securities Exchange Commission.