Edfinancial Services Announces Promotions

12/18/2003

Knoxville, TN – The board of directors of Edfinancial Services is pleased to announce the promotion of two key members of the national student loan servicer’s management team. Steven Beasley, chief financial officer and vice president, has been promoted to senior vice president, as has John Arnold, corporate counsel.

Beasley joined Edfinancial Services in January of 1997. He was previously vice president and manager of internal financial reporting for First American Bank in Nashville. Beasley is a member of the Tennessee Society of CPAs and AICPA.

“Steven is invaluable to our senior management team,” says Tony Hollin, chairman & CEO. “His leadership and expertise will help guide our future growth.”

Arnold has been corporate counsel since August of 2001. He was formerly a partner with Robertson, Ingram & Overbey in Knoxville where he specialized in tax issues related to municipal finance. Arnold is a member of the Tennessee and Knoxville Bar Associations and the National Association of Bond Lawyers.

"John’s contributions to this company are significant," Hollin states. "Because of our nonprofit status and our issuance of tax-exempt bonds, his experience and instinct are essential to our continuing growth and planned expansion."

Edfinancial Services offers extraordinary student loan servicing for a dozen of the nation’s top 100 student loan providers, including First Tennessee Bank, the Arkansas Student Loan Authority, Union Planters Bank, Bank of America, U.S. Bank, SouthTrust Bank, the Louisiana Education Loan Authority, North Texas Higher Education Authority, Hibernia National Bank and Edamerica.

* * * * *

Edfinancial Services is a private corporation headquartered in Knoxville, TN. Servicing student loans nationwide, Edfinancial Services administers student loan volume in excess of $7 billion.