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ZipLip.com Closes First Round Financing; Secure E-Mail and Collaboration Vendor Attracts Major Japanese Corporation

MOUNTAIN VIEW, California --(BUSINESS WIRE)-- Nov. 16, 1999

ZipLip.com, Inc., ("ZipLip") the recognized leader in secure Web-based e-mail on the Internet, has announced the successful closing of its first round of private financing. The funds enable ZipLip to scale up operations, broaden its product lines and expand marketing efforts.

Among the investors are venture capital funds and private investors, led by Itochu Corporation of Japan. Itochu is one of the leading trading companies in Japan, consistently ranking among the largest companies in the world. "We are pleased to welcome Itochu as a valued investor and partner, particularly in view of their deep and broad experience in the Internet and successful investment track record in category leaders such as Excite, Broadvision, Siebel Systems and Marimba," said ZipLip president and CEO, Kon Leong. "ZipLip has been on a fast track since our initial Web-site launch in July of this year. We're expanding our offerings to include secure messaging and collabora tion, which can now enable new forms of communications and e-commerce."

"Itochu Corporation's business strategy is to partner with companies around the world with leading edge technologies," said Eizo Kobayashi, Chief Operating Officer of Itochu Corporation's IT & Telecommunications Division. "We believe ZipLip's technology and services are timely, and push the frontiers of messaging and collaboration to help satisfy the needs for secure messaging in the international marketplace, including Japan."

About ZipLip.com: ZipLip.com, Inc. is the first company to offer free, fully private e-mail and file transfer on the Web. Its secure messaging and collaborative services can dramatically enhance security and productivity for all Internet users and businesses worldwide. Advanced fee-based services include secure document delivery, file sharing, storage, bulletin board, and other collaboration tools. The Company will leverage these capabilities to enable new forms of messaging and e-commerce. ZipLip is a privately held corporation with headquarters in Mountain View, California

About Itochu Corporation: ITOCHU Corporation is one of the world's largest corporations with over $115 billion in annual sales. It operates in over 80 countries and controls more than 1,000 affiliated companies. The immense volume of business reflects the vast scope of its expertise in commodity trading, information, logistics, financing, investment and retailing. ITOCHU's affiliated companies in communications include the first digital satellite broadcasting service provider in Japan and leading Internet service providers. Information about ITOCHU Corporation is available at http://www.itochu.co.jp

Contact: Stephen Chan
Tel:(650) 968 8989
Fax:(650) 968 9089
schan@zlti.com

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