Douglas K. Freeman,
Chairman and
Chief Executive Officer and
Steve Johnson,
Chairman Emeritus,
NetBank, Inc.
opened The NASDAQ Stock Market

Wednesday, January 29, 2003
at NASDAQ's MarketSite
in New York City.

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NetBank, Inc.

Mr. Freeman has been CEO of NetBank, Inc. [NTBK] since April 2002, when the company completed its acquisition of Resource Bancshares Mortgage Group, Inc. The company has begun delivering on the synergies of the merger. Third quarter 2002 earnings were up by 143% on a year-over-year basis. The company plans to issue its fourth quarter and year-end 2002 results on the morning of January 29 before Mr. Freeman presides over the Market Open.

About NetBank, Inc. [NTBK]

NetBank, Inc. (Nasdaq: NTBK) operates with a revolutionary business model through a diverse group of complementary financial services businesses that leverage technology for more efficient and cost-effective delivery of services. Its major subsidiaries include NetBank¨, (www.netbank.com), the country's first commercially successful Internet bank; RBMG, Inc., a wholesale mortgage lender that generates residential mortgages through a nationwide network of independent brokers and correspondent lenders; Market Street Mortgage Corporation, a retail residential mortgage lender that conducts business in 39 states; Meritage Mortgage Corporation, a wholesale mortgage lender that originates non-conforming residential mortgages through a nationwide network of independent brokers; and Republic Leasing Company, Inc., a wholesale originator and servicer of commercial business equipment leases. NetBank is a Member FDIC. NetBank, RBMG¨, Market Street Mortgage¨ and Meritage¨ are Equal Housing Lenders.