Nelnet makes strategic investment in infiNET Integrated Solutions, Inc.

Apr 22, 2004

(Lincoln, NE) - Today, Nelnet, Inc. (NYSE: NNI) announced it has made a strategic investment in infiNET Integrated Solutions, Inc., an ecommerce services provider for higher education and healthcare organizations.

Headquartered in suburban Chicago, Illinois, infiNET Solutions collaborates with colleges, universities, and healthcare organizations in the development of customer-centric electronic transactions, information sharing, and account and bill presentment. In addition to its ownership in infiNET Solutions, Nelnet is among the company's customers.

"As a vertically integrated education finance organization, Nelnet provides a comprehensive array of services to assist schools and students with every step of the financial aid process," noted Steve Butterfield, Nelnet Vice Chairman and Co-CEO. "infiNET Solutions holds an important position in this process through its online bill presentment and transaction services. This type of technology service is critical as we help students navigate education finance."

"Nelnet has been an important partner and customer for a long time," stated Harvey Gannon, Chairman and CEO of infiNET Solutions. "We believe that our valued customers and all higher education institutions will benefit from this news as we leverage this investment to advance our position as one of the leaders in providing comprehensive billing, payment processing, and ecommerce services for colleges and universities."

infiNET Solutions is a customer-focused company that provides innovative business services and software to the higher education and healthcare markets. Established in 1997, infiNET Solutions has collaborated with many of the nation's colleges, universities, and healthcare providers to deliver superior technology and real business solutions that improve services, reduce costs, and further support the mission of the campus.

The company's QuikPAY® suite of automated billing, payment processing, and ecommerce services are utilized by colleges and universities throughout North America as part of their overall mission to improve student services and create efficiencies throughout their institution.

Contact:
Alyssa Kattner
infiNET Solutions
(847) 821-3859
akattner@infinet-inc.com
www.infinet-inc.com

Nelnet is one of the leading educational finance companies in the United States and is focused on providing quality student loan products and services to students and schools nationwide. With over $12 billion in total assets, Nelnet originates in excess of $2 billion for itself and its service partners annually, and its servicing software is used by 35 clients, including Nelnet, to service over $46 billion in student loans. Nelnet ranks among the nation's leaders in terms of total student loan assets.

Nelnet offers a broad range of student loan and financial services and technology-based products, including student loan origination and lending, guarantee servicing, and a suite of software solutions. Our products are designed to simplify the student loan process by automating financial aid delivery, loan processing, and funds disbursement. Our services help to facilitate and streamline education finance for all involved in the industry, including student and parent borrowers, lenders, financial aid officers, guaranty agencies, governmental agencies, servicers, and the capital markets. Additional information is available at www.nelnet.net.

Information contained in this press release, other than historical information, may be considered forward-looking in nature and is subject to various risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or expected. Among the key factors that may have a direct bearing on Nelnet's operating results, performance, or financial condition are changes in terms of student loans and the educational credit marketplace, changes in the demand for educational financing or in financing preferences of educational institutions, students and their families, or changes in the general interest rate environment and in the securitization markets for education loans.