New Century 'FastQual' Award to Debut in American Le Mans Series

BRASELTON, GA. - New Century Mortgage Corporation has expanded its sponsorship within the American Le Mans Series and will sponsor an exciting new competition to present the New Century Mortgage "FastQual" Award to the fastest qualifier in all four classes of competition at all races for the ALMS in 2004. The award will also be presented to the driver who sets the fastest lap of the race in each class.

In addition, New Century Mortgage has been designated an Official Sponsor of the American Le Mans Series as the Exclusive Mortgage Corporation. New Century's new official relationship with the ALMS expands its presence in the series, which also includes primary sponsorship of The Racer's Group Porsche driven by Patrick Long and Cort Wagner.

"We are delighted that New Century Mortgage has chosen to expand its presence in the American Le Mans Series with this active and meaningful sponsorship investment," said Scott Atherton, President and CEO of the ALMS. "We expect the competition for the New Century FastQual Award to be intense throughout the season as the world's best professional sports car racing drivers and teams battle it out on the track."

"We are very excited to be associated with the American Le Mans Series," said Patrick Flanagan, President of New Century Mortgage. "We believe it is the premier sports car series in the United States. Giving out the 'FastQual" pole award will be an honor and will provide additional excitement for our guests at the races."

The New Century FastQual Award, named for the mortgage company's "FastQual" technology for the automated underwriting of loans, will reward the fastest-qualifying driver in the LMP1, LMP2, GTS and GT classes for each race with $1,000, a total of $4,000 per race. New Century will also honor the driver from each class who records the most pole positions during the season, with the presentation to be made at the series awards banquet. The driver who sets the fastest lap of the race in each class will receive a trophy in post-race ceremonies.

New Century Mortgage will leverage its sponsorship of the ALMS with various consumer-related programs that will be announced at a later date.

About New Century Mortgage
New Century Financial Corporation, a publicly-traded company listed on the NASDAQ (ticker symbol "NCEN"), is a leading nationwide specialty mortgage banking company that, through its subsidiary, New Century Mortgage Corporation, originates, purchases, sells and services residential mortgage loans secured primarily by first mortgages on single family residences.

About the American Le Mans Series
The American Le Mans Series is a series of North American sports car races based on the 24 Hours of Le Mans, the world's most famous endurance race. American Le Mans Series races feature four classes of race cars competing for class wins and the overall win, with the fields including many of the same drivers and cars that compete at Le Mans. The series holds events at many of North America's premier permanent road racing facilities. The series motto is "For the Fans" and all events feature driver autograph sessions and open paddocks. All events are on television in the United States. Well-known automotive brand names such as Audi, BMW, Corvette, Dodge, Ferrari, Lamborghini, MG, Nissan, Panoz, Porsche and Saleen are represented on the series. The series, which has its headquarters in Braselton, Ga., was founded in 1999 by entrepreneur Don Panoz and is sanctioned by the International Motor Sports Association (IMSA).