December 12, 2002

UCLA Anderson Presents Distinguished Executive Leadership Award

Los Angeles —  UCLA Anderson has selected Angelo R. Mozilo, Chairman and Chief Executive Officer, Countrywide Financial Corporation, as the recipient of the prestigious Information Systems (IS) Associates Award for Executive Leadership for his visionary use of information technology at Countrywide Financial Corporation. The award was presented to Mozilo at an awards dinner on December 4, 2002, at the Regency Club in Westwood, California.

The IS Associates Award for Executive Leadership is an annual award that recognizes a senior general management executive's leadership in the exceptional application of information technology within an organization. IS Associates, a part of UCLA Anderson, has conducted cutting-edge research and education in information systems and has contributed considerable intellectual capital in the area to Southern California's rich body of information systems professionals.

"It is an honor to present Angelo Mozilo with the distinguished Executive Leadership Award. His vision to aggressively implement innovative technology is an example for all business leaders," said Bruce Willison, dean, UCLA Anderson.

Mozilo addressed the attendees with a speech that discussed the evolution and mission to transform Countrywide into a leading financial services company.

"Bottom line is if you do not commit yourself and your company to effective and relevant technologies and expend the financial and human capital required, then you cannot expect to compete, dominate, or even survive," said Mozilo. He concluded by stating, "Technology is ever changing, so we have to stay alert, break down the barriers of progress, and enthusiastically embrace positive change through technology."

Mozilo is responsible for Countrywide's technological leadership over the course of its existence, resulting in constantly improving productivity and competitive advantage. Countrywide's adoption of new technology for IT infrastructure has been years ahead of the loan industry in such areas as client-server, Lotus Notes groupware, Windows NT, messaging workflow, XML, Java, wireless, and storage area network. Timely application of new technology has resulted in Countrywide being one of the pioneers of online lending.

About Countrywide Financial Corporation
Founded in 1969, Countrywide Financial Corporation (NYSE: CFC), formerly Countrywide Credit Industries, Inc. (NYSE: CCR), is a member of the S&P 500, Fortune 500 and Forbes 500. Countrywide, through its subsidiaries, provides mortgage banking and diversified financial services in domestic and international markets. Consumer businesses include mortgages, insurance and other financial products. Business-to-business activities encompass capital markets, transaction processing and insurance. The company is headquartered in Calabasas, California and has more than 25,000 employees with over 500 offices nationwide.

Principal subsidiaries include Countrywide Home Loans, Inc, which originates, purchases, securitizes, sells and services prime-quality loans; Full Spectrum Lending, Inc., a sub-prime residential lender; LandSafe, Inc., a provider of loan closing services; Countrywide Insurance Services, Inc., a national insurance agency offering home-related insurance products; Balboa Life & Casualty Group, whose companies are national providers of property, liability and life insurance; Balboa Reinsurance, a captive mortgage reinsurance company; Countrywide Capital Markets, a mortgage-related investment banker; and Treasury Bank, N.A., a banking entity offering customers CDs, money market accounts, and home loan products. In addition, Countrywide owns 70 percent of Global Home Loans, Ltd. a European mortgage banking joint venture.

For more information about the company, visit Countrywide's Web site at www.countrywide.com

About UCLA Anderson
UCLA Anderson is perennially ranked among the top-tier business schools in the world. Award winning faculty renowned for their research and teaching, highly selective students, successful alumni and world-class facilities combine to provide an extraordinary learning opportunity. Established in 1935, The school provides management education to more than 1,300 students enrolled in full-time, part-time and executive MBA programs and academic master's and Ph.D. programs.

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