Contact:   Brad Morris                              News Release
           (913) 441-2466                           OTC: AVFID


FOR IMMEDIATE RELEASE


                        ADVANCED FINANCIAL, INC. OBTAINS
                             $875,000 LINE OF CREDIT


SHAWNEE,  KANSAS, February 22, 1999 --- Advanced Financial,  Inc. ("AVFI" or the
"Company")  announced  today that it has entered  into a Credit  Agreement  with
First Mortgage Investment, Co. (FMIC) to borrow $875,000.

Pursuant to the terms of the Credit Agreement, the Company drew down $250,000 on
February 19, 1999 and will draw down an  additional  $100,000  every thirty days
until the full  $875,000 has been  extended by FMIC to the  Company.  The credit
facility  is for a term of five  years and  interest  accrues  on the  principal
balance at a rate of 7% per annum fixed during the term.  Interest  will be paid
quarterly with principal due at maturity.

The proceeds of this line of credit will be used  primarily  for the purchase of
charge off credit card  portfolios  by AVFI's  wholly owned  subsidiary,  Cannon
Financial  Company  (CFC).  For additional  information,  see the Company's news
release dated February 22, 1999, Advanced Financial, Inc.
Acquires Cannon Financial Company.

FMIC owns  approximately  40% of the  outstanding  shares of Common Stock of the
Company,  and holds an option  to  acquire  additional  shares.  For  additional
information,  see the Company's news release dated  February 22, 1999,  Advanced
Financial, Inc. Completes Recapitalization.

Some of the matters discussed in this press release  constitute  forward-looking
statements  within the meaning of the securities laws. Actual results may differ
materially from those projected in such  forward-looking  statements as a result
of a variety  of risks  and  uncertainties.  Investors  are  cautioned  that all
forward-looking statements involve risk and uncertainty.