"We are pleased to have Marilyn Alexander accept our nomination for
election to the New Century board," stated Cole .

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You'll find
guest amenities such as televisions tuned to animal shows, lactose-free
soft serve ice cream for treat time and comfortable poochy cots with warm
(not to mention hypoallergenic) lambskin blankets in guests' suites. Sandvik, 65, has notified the company that he
will not stand for reelection to the board of directors at the company's
annual meeting of stockholders on May 17, 2005."
The company also announced that the Governance and Nominating Committee of
its board has nominated Marilyn A. Ms.

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Mr.
Ms.
Ms.

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Cole, chairman and chief executive officer.

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(NASDAQ: PETM)

What:

Take a behind-the-scenes tour of New York State's first PETsMART PETsHOTEL
in Huntington where guests get to spend their days at play.





PETsHOTEL


Feline guests lounge in "Kitty Condos" that have a separate air system from
that of the dogs.

When:

Tuesday, May 17, anytime from 10 a. "I, along with the
other members of our board and senior management, am grateful to Terry for his
service and valuable contributions to New Century and wish him well in
retirement. She has more than
23 years of finance, marketing and strategic planning experience.
To find out more about New Century, please visit http://www.

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, New Century Financial
Corporation (NYSE: NEW), a real estate investment trust (REIT) and the parent
company of one of the nation's largest non-prime mortgage finance companies,
announced today that Terrence P.
"Our board has benefited greatly from Terry Sandvik's professionalism,
dedication and knowledge, especially in the area of information technology,"
said Robert K. Alexander currently serves on the Board of Trustees of Equity Office
Properties and Board of Governors of Chapman University and is a founding
board member of the Breast Health Awareness Foundation. Ms. Alexander
also served as vice president, financial planning and analysis of Marriott
Corporation and as a managing consultant for Cresap, a division of Towers
Perrin.

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PRESS RELEASE Pets Find New York Is More Than a State of Mind at New PETsMART PETsHOTEL

Alexander holds a bachelor's degree from Georgetown University
and a masters of business administration from the Wharton Graduate School of
the University of Pennsylvania.

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Somewhere in all this, pet guests can even visit the
"bone booth" where they can take calls from mom and dad. He also previously served
on the company's board of directors from February 1999 to April 2000.ncen.

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Where:

The Huntington PETsHOTEL located at 350 Walt Whitman Road. Alexander has served as senior vice president and chief financial officer
of the Disneyland Resort in California and has held several marketing and
finance positions at the Walt Disney World Resort in Florida.

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Interviews, photos and fact sheets available upon request.

New Century Financial Corporation Announces Changes to Its Board Of Directors

Sandvik has served on the
company's board of directors since September 2000.

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Who:

Plenty of PETsMART PETsHOTEL and Doggie Day Camp guests (the furry and
four-legged kind), pet care experts, pet parents and, of course, your cat
or dog are also welcome.

Why:

See just how well pet guests have it at New York State's first PETsMART
PETsHOTEL. Alexander, 53, to stand for election to the
board of directors at its upcoming annual meeting of stockholders. "We believe that Marilyn's
extensive finance and marketing experience will bring a valuable and unique
perspective to our company."

About New Century
New Century Financial Corporation is a real estate investment trust and
the parent company of one of the nation's largest non-prime mortgage finance
companies, providing first and second mortgage products to borrowers
nationwide through its operating subsidiaries, New Century Mortgage
Corporation and Home123 Corporation.

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IRVINE, Calif.

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m. to 2 p. New Century is committed to serving the
communities in which it operates with fair and responsible lending practices.com.

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