Ocwen Financial Corporation Appoints New Member to Board of Directors


WEST PALM BEACH, Fla., Aug. 13, 2002 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) announced that W. Michael (Mickey) Linn was appointed as a member of the Board of Directors of the Company.

Mr. Linn is currently Chairman and Chief Executive Officer of Max Q Technologies, Inc., Findlay, Ohio. Previously, he served as a Director and Executive Vice President Sales & Marketing of Solomon Software, Inc. (now owned by Microsoft Corporation). Mr. Linn serves or has served on the Board of Directors of National Lime & Stone, Efficiency Software LLC, Transport Topics Publications, TLB Inc., Solomon Software, Inc., Floral Design Inc. and the Health Watch Advisory Board. He graduated from Harvard College (BA-Government, Cum Laude) in 1970 and earned an MBA from Harvard Business School in 1973.

Ocwen Financial Corporation is a financial services company headquartered in West Palm Beach, Florida. The Company's primary business is the servicing and special servicing of nonconforming, subperforming and nonperforming residential and commercial mortgage loans. Ocwen also specializes in the development of related loan servicing technology and software for the mortgage and real estate industries. Additional information about Ocwen Financial Corporation is available at www.ocwen.com.



            

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