December 10, 2004

New Nelnet Loan Generation Service Center Will Add Local Presence, Expanded Service to Texas in 2005

LINCOLN, Neb., Dec 10, 2004 /PRNewswire-FirstCall via COMTEX/ -- Nelnet (NYSE: NNI) announced today that it plans to open a student loan generation service center in Texas. The new center, which is expected to begin operations in April 2005, will provide a greater level of support and service to schools, lenders, and Nelnet's brand partners in the Texas market. The additional center is consistent with the company's focus on organic growth and maintaining a local presence in the marketplace. A specific site will be named at a later date.

This center will offer Nelnet's full range of loan origination call center services to Nelnet's Texas customers, and the staff of customer service professionals will assist schools with the entire origination process including inquiries on the status of loans, navigation of Nelnet's Web products, requests for loan adjustments, and electronic data transmission research. Nelnet anticipates hiring staff for the center early in 2005 to prepare for the April opening.

"Nelnet's relationship with each school is of the utmost importance," commented David Bottegal, Chief Marketing Officer and Executive Director at Nelnet. "The new staff at this call center will provide enhanced service to schools in that region."

Nelnet will also introduce a Spanish-speaking call center at the Texas location later in 2005. The call center will work with new and current Spanish-speaking borrowers throughout the loan application and borrowing process. The addition of the Spanish-speaking call center underscores Nelnet's commitment to expand higher education opportunities for Hispanic students and their families, and is in line with other efforts such as the recently announced partnership with the Hispanic Association of Colleges and Universities (HACU).

"We believe in providing our customers with local, personalized service. Our new Texas center helps fulfill that goal, and will be staffed with experienced, talented people available to personally assist schools and borrowers with their product or service needs," said Cheryl Watson, Nelnet's Chief Communication Officer.

    The Texas center will be the fifteenth Nelnet location nationwide.

Nelnet is one of the leading education finance companies in the United States and is focused on providing quality student loan products and services to students and schools nationwide. With over $14 billion in total assets, Nelnet originates in excess of $3 billion for itself and its service partners annually, and its servicing software is used by approximately 35 clients, including Nelnet, to service nearly $50 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.

For more information about Nelnet, contact Sheila Odom at 402.458.2329, or visit www.nelnet.net.

    (code #: nnig)

SOURCE Nelnet

media, Sheila Odom, +1-402-458-2329,
nelnetcommunications@nelnet.net, or investors, Cheryl Watson, +1-317-469-2064,
investorrelations@nelnet.net, both of Nelnet
http://www.nelnet.net

Copyright (C) 2004 PR Newswire. All rights reserved.

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