First Ever Revolutionary Service "The Debt Registry™" Opens Patented Consumer Debt Tracking System Addresses $Multi-Billion Industry

First Ever Revolutionary Service "The Debt Registry™" Opens
Patented Consumer Debt Tracking System Addresses $Multi-Billion Industry

Security Asset Capital Corporation (OTC BB: SCYA) announced the opening of The Debt Registry™, a registration system for the financial services industry developed to track "true ownership" on debt being purchased, sold, or in collection. The Debt Registry™ will provide the first-ever tracking service to verify the history of registered debt accounts, validate ownership and conduct due diligence on potential transactions. See the system at www.debtregistry.com


"Potentially, all financial institutions in the U.S. that buy and sell credit card, auto, student loan, medical and other consumer debts will use The Debt Registry™ as the primary debt transaction clearinghouse," said Jim Kleeman, General Manager of Expanets. "We are implementing a system that will be able to process and store hundreds of millions of records, and do so with the accuracy and security demanded by the financial industry."

Expanets, a partner business of NorthWestern Corp. (NYSE:NOR) and the core business in NorthWestern Communications Group, provided the design, installation and maintenance of the infrastructure that enables The Debt Registry™ to securely store and track hundreds of millions of transaction records.

The Debt Registry is hosted at Inflow's Phoenix based data center, a 20,000 sq. ft. facility, located in downtown Phoenix.

"The Debt Registry™ is committed to providing a structure to improve the integrity of the financial services industry and to help reduce potential fraud and misrepresentation," said Mike Seigfried, President of The Debt Registry™. "The implementation of The Debt Registry™ will provide the industry with much structure and access to more current, and complete information. That is vital to help prevent unnecessarily complex bureaucracy and government regulation."

Prior to The Debt Registry™, there was no third party to track accounts or maintain debt ownership records. Because of challenges in keeping, tracking and accessing accurate records, debt sales and collection efforts have suffered from the lack of verifiable ownership following sales, and difficulties in verifying age, experience, and details of an account. Other commonplace problems include failure to report correct information to credit bureaus, duplicate reporting of debts on credit reports and lack of documentation from buyers or sellers, which inhibits the ability of debtors to locate the current owners of their debt accounts.
Security Asset will be working to expand the size and scope of The Debt Registry™ for its next phase launch, which will enable consumers to locate ownership of their outstanding debt, provide additional insurance and chain of title guarantees, add additional automated features, functionality and advanced reporting, and significantly increase database capacity and system scalability.

About Security Asset Capital Corporation
Security Asset Capital Corp. (OTCBB:SCYA) is an experienced leader in the lucrative asset liquidation industry. The company's premiere subsidiary and product is The Debt Registry, a patented Internet based registration and tracking solution developed for the financial services industry. In addition, the system is designed to assist consumers in locating delinquent accounts and verifying ownership of these accounts prior to settlement. For additional information regarding Security Asset or The Debt Registry™, contact the company directly at 800-954 8700 or visit it on the internet at www.securityasset.com

About Expanets
Expanets is the nation's largest and leading provider of converged communications solutions to businesses ranging from 20 to 500 employees, and is also strongly positioned to serve larger businesses with multiple locations. With 2001 revenues of $1 billion, Expanets serves 560,000 businesses and over one million client locations. While national in scope, Expanets delivers local service and solutions through its team of 3,200 associates, based in 150 offices and satellite locations throughout the U.S. Expanets is a single-source provider of voice, data and e-business solutions that give its clients a competitive edge. Its broad portfolio is based on its strategic relationships with industry-leading manufacturers, service providers, carriers and application developers. Expanets, the core business of NorthWestern Communications Group, was founded in 1997 by NorthWestern Corporation (NYSE: NOR). NorthWestern and its partner businesses are leading providers of services and solutions to 2.5 million customers across America in the communications and energy sectors. More information about Expanets is available at http://www.expanets.com.

About Inflow
Companies with critical Internet and infrastructure applications trust Inflow's Internet Data Centers (IDCs) and managed hosting services, which enhance Web performance, ensure Internet uptime and deliver the highest customer satisfaction. Inflow guarantees 100 percent Internet availability through multiple Tier-1 ISP networks, offering a highly scalable, reliable service. Inflow's cost-effective services, backed by certified engineers and first-rate customer service, allow companies to focus on their core businesses. Launched in 1997, Inflow has raised more than $295 million in equity and services more than 650 customers in 12 key markets. For additional information and IDC locations, please visit www.inflow.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 company's ability to produce & market products and/or services & other risks detailed from time to time in company's reports filed with the Securities Exchange Commission.







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