E-LOAN(R) (Nasdaq: EELN), an online consumer direct lender, today announced that it will
work with eBay to provide its consumers with financing for automobiles and
motorcycles purchased on eBay Motors. eBay Motors is the No. 1 automotive
site on the Web and delivers $11.1 billion in worldwide annualized gross
merchandise volume.

"When you consider that a vehicle is sold nearly every minute on eBay
Motors, the need for an efficient financing option is critical," said Mark
Lefanowicz, E-LOAN's President and Chief Operating Officer. "Just as eBay
Motors changed the paradigm for finding and buying used vehicles, we are
changing how individuals finance those vehicles. Instead of waiting long
periods of time and jumping through hoops for high interest rate loans, E-LOAN
provides consumers with a faster and easier way."

Users of eBay Motors can quickly and easily obtain financing for their
vehicle purchases, usually at lower rates than banks or credit unions and
always without the vehicle inspections or appraisals those institutions
frequently require. As fast as 24 hours after they apply, buyers can complete
their purchase from private sellers or auto dealers with E-LOAN financing.

Consumers who visit the eBay Motors Financing Center can secure financing
options from select lenders by choosing the make, model, year, and price range
of the vehicle they are looking to purchase. Certain selections will take
consumers to the co-branded E-LOAN and eBay Motors Auto Loan Center. From
there, consumers can quickly and easily research auto loan rates, terms, and
payments without entering any personal information. When they're ready to
apply, consumers complete a 5-minute online application and receive an online
approval decision within 15 minutes during regular business hours. As fast as
24-hours after the application is approved, the customer will receive an
E-LOAN PowerCheck(R). E-LOAN's PowerCheck works just like a personal check
and can be made out to an auto dealer, private seller and/or the vehicle lien
holder for up to the approved loan amount.

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.

E-LOAN Press Contact:
Laurie Azzano
Cosmo Public Relations
504-296-1349
laurie@cosmo-pr.com

E-LOAN Press/Investor Contact:
Tiffany Fox
E-LOAN, Public/Investor Relations
925-847-6314
tiffanyf@eloan.com