San Diego, Calif. — March 15, 2005 — BofI Holding, Inc. (Nasdaq: BOFI) announced today that it has priced its initial public offering of 3,052,174 shares of its common stock at $11.50 per share. BofI Holding, Inc. is the holding company for Bank of Internet USA, a consumer-focused, nationwide savings bank operating primarily through the Internet.

The shares will commence trading today, March 15th, on the Nasdaq National Market under the symbol "BOFI." BofI Holding, Inc. has granted the underwriters a 30-day option to purchase an additional 457,826 shares of its common stock to cover over-allotments, if any.

WR Hambrecht + Co is acting as book running manager, and The Seidler Companies Incorporated is acting as another managing underwriter. The shares were offered through WR Hambrecht + Co's OpenIPO^®, an auction that allows investors to participate in the pricing and allocation process of the IPO shares. Shares are being offered only by prospectus. A copy of the prospectus relating to these securities may be obtained from WR Hambrecht + Co, Prospectus Department, 539 Bryant Street, Suite 100, San Francisco, CA. 94107 (tel: 415-551-8600) or The Seidler Companies Incorporated, 515 S. Figueroa St., Suite 1100, Los Angeles, CA 90071 (tel: 213-683-4500).

A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or other jurisdiction.