Credit Management Solutions, Inc.

Ticker:	CRED	5950 Symphony Woods Road
Exchange:	NASDAQ-National Market	Columbia, Maryland 21044
Industry:	Service	(410) 740-1000

Type of Shares:	Common Shares	Filing Date:	10/11/96
U.S. Shares:	2,600,000	Offer Date:	12/18/96
Non-U.S. Shares:	0	Filing Range:	$11.00 - $13.00
Primary Shares:	2,200,000	Offer Price:	$11.50
Secondary Shares:	400,000	Gross Spread:	$0.81
Offering Amount:	$31,200,000	Selling:	$0.48
Expenses:	-	Reallowance:	$0.10
Shares Out After:	7,210,100

Manager	Tier	Phone
Friedman, Billings, Ramsey & Co., Inc.	Lead Manager	(703) 312-9500
Unterberg Harris	Co-manager	(212) 888-5609

	Audited Income	Latest Unaudited Income	Prior Unaudited Income		Balance Sheet
	12/31/95	6/30/96	6/30/95		6/30/96
Revenue:	$10.23	$5.27	$4.11	Assets:	$3.87
Net Income:	$0.74	-$0.02	$0.58	Liabilities:	$4.57
EPS:	$0.12	$0.00		Equity:	-$0.70
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year

Business Description

CMSI is a leading developer and provider of software solutions and services for automating the consumer and small business credit analysis, decisioning and funding process. Drawing upon over 10 years of experience in the credit processing industry, the company has developed and provides open-architecture software products and services which manage volume-intensive credit operations over wide-area networks. The company's products and services allow its customers to automate the entire credit application process by enabling the rapid transmission of credit application process by enabling the rapid transmission of credit applications analysis and decisioning and facilitating compliance with federal and state regulatory requirements.

Use of Proceeds

The proceeds from the proposed offering will be used for expansion of the company's sales, marketing, technical and customer support organizations, capital expenditures and other general corporate purposes and working capital purposes.

Last updated: 12/29/96