Ellie Mae Named to the Inc. 500 List of America's Fastest Growing Private Companies

Mortgage technology provider ranks #118 on the prestigious list with four-year sales growth of 1,012%

DUBLIN, CA—October 25, 2004—Ellie Mae Inc., the award-winning provider of innovative mortgage management solutions and online connectivity for the mortgage industry, today announced that it has been named one of the nation's fastest growing private companies by Inc. magazine, ranking #118 on the 23rd annual Inc. 500 list. Ellie Mae earned a place on the list with its 1,012 percent sales growth over the past four years.

"We are extremely honored to be included on the Inc. 500 list this year," says Sig Anderman, Founder and CEO of Ellie Mae. "Our vision has been to create technology that streamlines the mortgage loan process and enables all the involved parties to take full advantage of the Internet. The kind of growth we have seen in this past year certainly demonstrates the rapid adoption of our products and services, and that we are filling significant needs for this key sector of the national economy."

To be eligible for this year's Inc. 500, companies had to be independent and privately held through their fiscal year 2003. Companies are ranked on averaged year-over-year sales growth. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.

The companies that made this list have thrived despite continued stagnation in the economy, posting an average year-over-year sales growth of 265 percent. Inc. 500 companies posted aggregate 2003 revenue of $12.6 billion, and 82 percent of them were profitable. And while the United States shed 410,000 jobs in 2003, Inc. 500 companies provided employment for more than 70,000 people.

Further demonstrating the resilience of this year's Inc. 500 crop is the fact that 102 of this year's honorees, including Ellie Mae, started in 1999-meaning that they weathered the start-up costs of the overcapitalized boom and thrived during the impending bust that was one of the toughest periods for young companies in recent memory.

"The best thing you can say about this year's crop of Inc. 500 entrepreneurs is that they didn't buy into the hype," said Inc. editor-in-chief John Koten. "When people were practically giving away funding in the late 1990s, these companies didn't overextend, and when everyone hit the panic button a few years later, they stayed calm and seized opportunity."

Ellie Mae is joined on the Inc. 500 list by one of the company's major customers, Carteret Mortgage Corporation, which at #74 is now the nation's second largest mortgage broker. "Carteret has done a phenomenal job of adopting new technologies to reduce their costs and better serve their customers," says Anderman.

Eric Weinstein, CEO of Carteret, adds, "This is Carteret's fourth year in a row on the Inc. 500 list-America's 500 Fastest-Growing Private Companies. Very few companies have ever done that, and we owe it all to Ellie Mae."

"Innovation has been our key to growth," notes Anderman. "Our flagship product, the Encompass® mortgage management system, represents an enormous leap forward in mortgage origination and processing technology. It's the first system that truly reflects the needs of this complex industry, and is rapidly becoming the new industry standard among mortgage professionals. With the revolutionary change occurring in the mortgage industry, we can envision a time when the loan origination process will move from weeks to just hours-and Ellie Mae will be right here providing the critical tools to make that happen."

The Inc. 500 Special Issue will appear on newsstands October 26 and will be on display until December 21, 2004.

About Inc. Magazine

Inc., the only business magazine dedicated exclusively to owners and managers of fast-growing private companies, delivers real solutions for today's innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing and technology. Inc. is the premier publication that focuses on small to medium-size businesses, which are responsible for more than half the nation's gross domestic product and 75% of its new jobs. And Inc. looks beyond work to address the entrepreneurial lifestyle. Inc., a Gruner + Jahr USA publication, inspires and informs, with cutting-edge coverage that reflects our readers' energy, brashness, and imagination. Visit www.inc.com .

About Ellie Mae, Inc.

Ellie Mae, Inc. is an award-winning provider of software and services for the mortgage industry, which has been recognized in each of the past three years as one of the fastest growing companies in the California Bay Area. Ellie Mae provides a comprehensive line of products and services including the company's flagship Encompass® mortgage management system, Contour™ and Genesis 2000™ loan origination software, Executive Web Sites for mortgage brokers, and Ellie Mae Docs services for document processing. Ellie Mae's ePASS® Network is the mortgage industry's online transaction platform enabling 40,000+ mortgage companies in the United States to easily do business online with hundreds of leading lenders and nearly 100,000 settlement service providers. Ellie Mae is based in Dublin, California. To learn more about Ellie Mae, visit www.elliemae.com or call (888) 955-9100.

Copyright © 2004 Ellie Mae, Inc. All rights reserved. Ellie Mae®, ePASS®, Encompass®, Contour™, Genesis 2000®, Executive Websites™, Ellie Mae Docs™ are the sole property of Ellie Mae, Inc.