FULLERTON, Calif., and HARTFORD, Conn., August 15, 2000—EcomTextile.com, a global internet marketplace, and First International Bank, a subsidiary of First International Bancorp Inc. (NASDAQ: FNCE), have agreed to make online financing available to buyers and sellers of textile-related products worldwide. Under the agreement, First International Bank will offer 14 commercial and international credit products to EcomTextile.com users, up to US $5 million per transaction.

EcomTextile.com and First International Bank will integrate these online financing options using ThruCredit(sm), the bank’s technological solution for financing industrial transactions online. Buyers and sellers will be able to choose among 14 credit products comprising First International’s e-CreditMenu(sm) to settle transactions using the EcomTextile.com platform, and to meet their other business credit needs. Products in the e-CreditMenu range from basic payment guarantees, working capital lines, equipment loans and industrial mortgages to sophisticated international trade, barter and energy financing programs.

John Adams, CEO of EcomTextile.com, stated, "Global Internet exchanges like ours require alliances with key service providers like First International Bank. Our partnership will make it possible for companies all over the world to participate more easily and efficiently in the EcomTextile.com marketplace."

Joel Choi, EcomTextile chairman, commented, "Our goal is to provide all the aggregate services, including financing, under one trading umbrella so TAMS (Textile, Apparel, Related Equipment and Sewn Products industries) buyers and sellers can have a single source for their needs. First International Bank will help us maintain and enhance the personal relationships we recognize as critical in the textile and apparel industry."

First International Bank will underwrite loans and other facilities appearing in its e-CreditMenu in accordance with Riscope(sm), the bank’s proprietary commercial credit scoring system. Riscope applies to most types of industrial companies around the world and facilitates an efficient and rapid credit approval process.

According to Brett N. Silvers, First International Bank's chairman and CEO, "We are excited to be a part of EcomTextile.com’s Business Resource Center. Our broad line of commercial and international products and award-winning trade finance expertise support the company’s strategy of providing comprehensive global e-commerce services to its membership."

First International Bank has been the largest underwriter of U.S. Export-Import Bank supported loans for the past three years, based on number of transactions. In May 2000, First International won the President’s "E" Award for Export Service from the U.S. Department of Commerce, in honor of its accomplishments promoting U.S. exports.

With EcomTextile.com, First International Bank has established eleven alliances with Internet B2B marketplaces where participants conduct global industrial transactions.

EcomTextile.com is a business-to-business site focused on bringing buyers and sellers together in the textile industry with a user-friendly web-based sourcing tool. Bringing extensive industry experience and technology expertise, EcomTextile.com is the first company to offer a comprehensive marketplace for trade among manufacturers and suppliers in the textiles industry. The company is located at 1501 E. Orangethorpe Ave., Suite 110, Fullerton, CA 92831 and can be contacted by phone at 714-870-5850, by fax at 714-578-5723 or on the web at www.ecomtextile.com.

First International Bank (www.upscapital.com) – a world leader in the use of SBA, USDA and Export-Import Bank loans – provides innovative credit, trade and financial solutions for small and medium size industrial businesses. The company has more than 200 employees and representatives at 28 locations worldwide. U.S. offices are in Boston, Cleveland, Detroit, Hartford, Los Angeles, Miami, Morristown, Philadelphia, Pittsburgh, Providence, Rochester, Springfield, St. Louis, and Washington, DC. International representatives are based in Argentina, Brazil, Central America, Egypt, India, Indonesia, Korea, Mexico, North Africa, the Philippines, Poland, South Africa, Turkey and West Africa. During 1999, the company originated $551 million in loans primarily within its industrial niche, and closed the year with a managed loan portfolio of $1.1 billion. Established in 1955, the bank is a subsidiary of publicly traded First International Bancorp, Inc. (NASDAQ: FNCE), with headquarters in Hartford, Connecticut.

MEDIA CONTACT:

EcomTextile.com
Jeffrey Swartz
(949) 492-0075
jeff_swartz@prodigy.net

First International Bank:
Michele Zommer
(860) 241-4705
zommerm@firstinterbank.com