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ZipLip Closes Second Round Financing

MOUNTAIN VIEW, CA – June 26, 2000

ZipLip, Inc., ("ZipLip") the leading provider for secure data exchange software platform, has announced the successful closing of its second round of private financing. The funds enable ZipLip to further scale up operations, broaden its product lines and expand marketing efforts in the U.S. and Asia.

Among the investors are venture capital funds and private investors, led by Infocomm Development Agency (IDA) of Singapore. "We are extremely excited to enlist IDA as one of our major investors. As a technology-focused government agency, IDA truly understands technology and its implications," said ZipLip president and CEO, Kon Leong, "Since our initial Website launch and first financing, we have expanded our technology base to offer the most comprehensive data exchange platform for secure large scale communications for carriers, ASPs and large enterprises."

About Infocomm Development Agency (IDA) of Singapore: The Infocomm Development Authority of Singapore (IDA) is a dynamic organization with an integrated perspective to developing, promoting and regulating info-communications in Singapore. In the fast-changing and converging spheres of telecommunications, information and media technologies, IDA is the catalyst for change and growth in Singapore's evolution into a vibrant global info-communications technology center. For more information, please visit www.ida.gov.sg

About ZipLip: ZipLip, Inc., based in Mountain View, California, offers the world's only scalable 100% Java, J2EE-based platform to enable controlled communications, access and sharing of corporate intelligence. Its platform, the ZipLip Secure Data Exchange (ZDX.), offers secure email and secure file access and sharing, with complete control over who accesses which data, when, and what can be done with it, including detailed audit trails. Built for carrier-grade performance and easy integration into other Web applications, ZipLip's technology is available as a software license or service to carriers, ASPs, large enterprises, and healthcare and financial institutions. For more information on ZipLip, check out http://www.ziplip.com

Contact: Jumin Kim
Tel:(650) 968 8989
Fax:(650) 968 9089
jlkim@ziplip.com

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