Ocwen Named One of World's Top Outsourcing Providers


WEST PALM BEACH, Fla., Feb. 21, 2006 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN), the largest global outsourcer of transaction processing solutions for the mortgage industry, has been named one of the world's top outsourcing providers by the International Association of Outsourcing Professionals (IAOP).

IAOP named Ocwen to the Leaders Category of its list, The Global Outsourcing 100. The list is composed of 65 Leaders and 35 Rising Stars. Leaders are larger, established companies while Rising Stars are smaller, growing companies based on revenue. The actual rankings will be published in a special advertising feature in the April 3, 2006 issue of Fortune(r) magazine.

"The International Association of Outsourcing Professionals (IAOP) is pleased to recognize Ocwen Financial Corporation as one of the world's top outsourcing service providers for 2006," said Michael F. Corbett, Executive Director, IAOP. "Selection to The Global Outsourcing 100 was based on a rigorous application process based on the critical factors for long-term outstanding success. As the global standard-setting organization and advocate for the outsourcing profession, IAOP is pleased to be able to recognize the industry's leading providers with this prestigious award."

The rigorous application and judging process employed by The Global Outsourcing 100 defines the standard of excellence in outsourcing service delivery. Applications for the list were evaluated by an international and independent blue ribbon judge's panel, including:



 -- Chris Disher, Vice President and head of outsourcing advisory
    services for Booz Allen Hamilton

 -- Deborah Kops, Managing Director in charge of Global Sourcing
    Transformation, Deutsche Bank AG, London and a former partner
    of PricewaterhouseCoopers BPO.

 -- David Barnett, a leading advisor on outsourcing and a partner at
    the U.K.-based law firm Simmons & Simmons

 -- Michael F. Corbett, Executive Director, IAOP

 -- Jag Dalal, a senior executive who has worked extensively in the
    field of outsourcing at major U.S. corporations including
    Carrier, Data General, Unisys and Xerox and is today principal
    of JDalal Associates

 -- DJ Dalal, Country Manager (India) for engineering and
    technology sourcing, United Technology Corporation's Hamilton
    Sundstrand

 -- Lisa Ross, CEO and Founder, FAO Research, Inc., and a specialist
    in finance and accounting outsourcing who has provided market
    research and strategic consulting services worldwide.

 -- Dr. Tina Dacin, Queen's School of Business (Canada) E. Marie
    Shantz Professor of Strategy & Organizational Behavior, and a
    specialist in the areas of strategic alliances and business 
    networks

Ocwen has been providing outsourced solutions to the mortgage and asset backed securities industry since 1996. The company is the largest mortgage processing outsourcer in India with more than 2,500 India-based employees providing third-party services.

Ocwen Financial Corporation ("Ocwen") is a leading provider of servicing and origination processing solutions to the loan industry with headquarters in West Palm Beach, Florida, offices in Orlando, Florida and Chicago, Illinois and global operations in Canada, Germany, India and Taiwan. We make our clients' loans worth more by leveraging our superior processes, innovative technology and high-quality, cost-effective global human resources. Additional information is available at www.ocwen.com.

The International Association of Outsourcing Professionals (IAOP) is the global, standard-setting organization and advocate for the outsourcing profession. IAOP's global membership encompasses almost 200 organizations from around the world representing almost every industry segment and functional activity. In total, more than 37,000 individuals working in the field of outsourcing are members or subscribers. For more information, please visit www.outsourcingprofessional.org.



            

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