E-Stamp Corporation Sells Internet Postage Intellectual Property

MOUNTAIN VIEW, Calif., May 2001. E-Stamp Corporation (Nasdaq: ESTM), a provider of transportation management solutions, announced that the company has sold its Internet postage intellectual property to Stamps.com for $7.5 million. The intellectual property includes a broad set of 31 Internet postage patents, the "E-Stamp" name and the e-stamp.com Internet domain.

E-Stamp discontinued the company's Internet postage operations in November of 2000 and is completing the final reimbursements to E-Stamp Internet postage consumers -- meeting all requirements set forth by the United States Postal Services for a formal closing of that business.

"This deal allows E-Stamp to maximize the value of our assets and better positions us to move forward with our proposed merger with Learn2.com," said Robert (Bo) Ewald, president and CEO of E-Stamp Corporation. "We are pleased that our technological innovations will continue to provide value to the Internet postage industry."

On April 20, 2001, E-Stamp announced that it intends to merge with online learning provider Learn2.com and phase out its existing shipping and logistics business see release at www.e-stamp.com. The company will continue to use the E-Stamp name until the merger is complete. The merger is expected to close in the third quarter of 2001.