Nehemiah Community Reinvestment Fund Announces $250,000 Investment from Charles Schwab Bank

Charles Schwab Bank Provides Additional $25,000 Grant to Nehemiah Corporation of America

Sacramento, CA - November 8, 2004-Nehemiah Community Reinvestment Fund (NCRF), the nonprofit community development lending affiliate of Nehemiah Corporation of America, today announced that Charles Schwab Bank will invest $250,000 in NCRF. Charles Schwab Bank's investment will be used to make loans for affordable housing, community facilities and economic development in Washoe and Storey County, Nevada, which includes Reno and Virginia City. Additionally, Charles Schwab Bank has made a $25,000 grant to Nehemiah Corporation of America (Nehemiah) to help fund its ongoing homeownership and community revitalization work.

"Nehemiah created NCRF to provide capital resources for affordable housing and community development in communities such as Washoe and Storey Counties, Nevada. We are grateful that Charles Schwab Bank recognizes the importance of providing nonprofits the funds needed to serve their their communities," said Scott Syphax, president and chief executive officer of Nehemiah Corporation of America. "NCRF promotes community revitalization through comprehensive, regionally-focused affordable housing and community development programs. We are proud to assist the people of Washoe and Storey Counties and to share our vision with Charles Schwab Bank."

Nehemiah Corporation of America, the nation's leading privately-funded nonprofit provider of down payment gift assistance, founded NCRF in 1999 to make loans and equity investments in community development projects in California. In 2003, the fund's mission expanded nationally, targeting community and faith-based nonprofit organizations developing affordable housing - including workforce, transitional and special needs housing - community facilities such as nonprofit offices, senior centers and childcare centers, and economic development projects in low-income and underserved communities.Charles Schwab Bank's $250,000 investment has a 5-year term and has been designated to specifically target affordable housing, community facilities and economic development projects.

"Charles Schwab Bank is pleased to support the Nehemiah Community Reinvestment Fund's expanded programs in Nevada," noted Julia T. Brown, Vice President and CRA Officer for Charles Schwab Bank. "This investment represents one of a number of efforts we are taking to contribute to the foundation on which low- and moderate-income communities can flourish. Charles Schwab Bank believes its partnership with Nehemiah will provide essential economic and housing opportunities for the local community and is proud to be a partner in such an important community program."

NCRF's housing loans finance all phases of affordable and workforce housing development from feasibility studies and land purchase, to construction and short-term permanent financing. A wide variety of projects are eligible including rental housing, senior residences, single room occupancy units, housing for people with special needs and the formerly homeless as well as ownership housing. Community facilities loans support a wide range of faith-based organizations and essential human service agencies, including churches, providers of child care, health care, employment training, substance abuse and AIDS services, senior services and educational facilities. Over the next three years, NCRF expects to make loans totaling nearly $13 million for community development projects worth in excess of $40 million.

About Nehemiah Community Reinvestment Fund

Nehemiah Community Reinvestment Fund (NCRF) (www.ncrfund.org) is a nonprofit community development financial institution dedicated to providing capital and resources to revitalize low income and underserved communities. NCRF accomplishes this by leveraging investments in its revolving fund with its own capital to make below-market rate loans to community- and faith-based nonprofit organizations. These loans produce affordable and special needs housing, community facilities such as childcare and senior centers, and nonprofit offices, and economic development projects, which create jobs and help revitalize economically stressed neighborhoods. Additionally, NCRF acts as a bridge to provide investors with a vehicle to drive community revitalization by facilitating the creation of equity funds to make real estate investments in low-income and underserved communities. These double bottom line funds provide capital for community revitalization while at the same time yielding market-rate returns to investors.

About Nehemiah Corporation of America

Founded in 1994, Nehemiah Corporation of America, http://www.nehemiahcorp.org, is a Sacramento-based nonprofit organization committed to empowering lives and enriching communities nationwide. Nehemiah transforms lives by increasing homeownership opportunities for diverse populations, while maintaining its commitment to successful, responsible homeownership. Nehemiah transforms communities by expanding its faith-based, charitable and community development initiatives into underserved neighborhoods across America. In 1997, Nehemiah launched its flagship program, The Nehemiah Program, to provide down payment assistance to homebuyers. To date, Nehemiah has provided over $700 million in down payment assistance gifts, resulting in $23 billion in real estate transactions and has helped over 180,000 families and individuals achieve their dream of homeownership. Committed to comprehensive community reinvestment, Nehemiah has fostered partnerships with Habitat for Humanity, HomeAid America, the US Conference of Mayors and the National Association of Counties. In addition to providing downpayment gift assistance, Nehemiah has created other programs that work to revitalize communities including: Nehemiah Community Reinvestment Fund, Nehemiah Community Foundation and Nehemiah Urban Ministry Initiatives (NUMI).

About Charles Schwab Bank

Headquartered in Reno, Nevada, Charles Schwab Bank, N.A. provides checking, savings, money market accounts, CDs, home mortgages, and debit cards (ATMs). Deposits are FDIC-insured. Clients can access bank services at the banking office in Reno and by phone, mail or on-line at www.schwabbank.com. Charles Schwab Bank, N.A. is a subsidiary of The Charles Schwab Corporation. Charles Schwab Bank, N.A. is an Equal Housing Lender.

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