Former Wells Fargo Chief Joins Prosper's Board of Directors

San Francisco – June 19, 2006 – Prosper (http://www.prosper.com), America's first people-to-people lending marketplace, today announced that Paul Hazen, former Chairman and Chief Executive Officer of Wells Fargo & Co., has joined the company's Board of Directors.

"Paul brings an incredible wealth of knowledge and wisdom to Prosper," said Chris Larsen, Chief Executive Officer and co-founder of Prosper. "With over three decades of leadership and financial services industry experience, Paul will be instrumental as we continue to grow and develop as a company."

"Prosper is an exciting response to an inefficient market for consumer credit, and I believe its future potential is unlimited," said Paul Hazen. "I hope my background, experience and knowledge will help build the company, serve its customers, and enhance the success Prosper will enjoy."

After a 30-year career with Wells Fargo & Co., Paul Hazen retired in 2001 as the company's Chairman and Chief Executive Officer. Currently, Mr. Hazen serves as Director and Chairman of KKR Financial and Accel-KKR, and as Senior Advisor to KKR. In addition, Mr. Hazen serves as Deputy Chairman and Director of Vodafone, Plc., Lead Director of Safeway, Inc., and Director of Xstrata Plc. and Willis Group Ltd.

Mr. Hazen attended Amherst College and earned a B.S. in Finance from the University of Arizona and an M.B.A. from the University of California at Berkeley.

Other members of Prosper's Board of Directors include Jim Breyer of Accel Partners, Larry Cheng of Fidelity Ventures, and Bob Kagle of Benchmark Capital.

About Prosper

Prosper (http://www.prosper.com), America's first people-to-people lending marketplace, was created to make consumer lending more financially and socially rewarding for everyone. The way Prosper works is intuitive to people who have used eBay. Instead of listing and bidding on items, people list and bid on loans using Prosper's online auction platform.

People who want to lend on Prosper set the minimum interest rate they are willing to earn and bid in increments of $50 to $25,000 on loan listings they select. In addition to criteria commonly used by institutional lenders, such as credit scores and histories, people who lend can consider borrowers' personal stories and group affiliations. Groups on Prosper are critical to bringing people together for the common goal of borrowing at better rates. People who want to borrow on Prosper create loan listings for up to $25,000 and set the maximum rate they are willing to pay a lender. Then the auction begins as people who lend bid down the interest rate. Once the auction ends, Prosper takes the bids with the lowest rates and combines them into one simple loan. Prosper handles all on-going loan administration tasks including loan repayment and collections on behalf of the matched borrowers and lenders.

After two years of development, Chris Larsen, co-founder of E-LOAN, and John Witchel, technology entrepreneur, launched Prosper in February 2006. Backed by Accel Partners, Benchmark Capital, Fidelity Ventures, and Omidyar Network, Prosper has raised approximately $20 million. Prosper's marketplace platform is patent pending.