NTBK Net.B@NK Common Stock (MM)

NetBank, Inc. (Nasdaq: NTBK), a diversified financial services provider and parent company of NetBank(R) (www.netbank.com), today announced that its chairman and CEO, Douglas K. Freeman, has been elected chairman of the BAI Board of Directors. BAI is the financial services industry's leading professional organization focused on enhancing organizational and individual performance. The Board of Directors is comprised of 16 members representing financial services companies across the country. "I am extremely honored to serve BAI in this capacity," said Freeman. "This organization plays a vital role in the industry by providing the types of resources that help financial services companies and their employees reach their maximum potential. I look forward to ensuring BAI remains at the forefront of the issues and trends impacting the financial services industry today and tomorrow." Freeman will serve a two-year term beginning October 1, 2005. About NetBank, Inc. NetBank, Inc. (Nasdaq: NTBK) operates with a revolutionary business model through a diverse group of complementary financial services businesses that leverage technology for more efficient and cost effective delivery of services. Its primary areas of operation include personal and small business banking, retail and wholesale mortgage lending, and transaction processing. For more information, please visit www.netbankinc.com.