THE MAGEX DIGITAL COMMERCE SERVICE GOES GLOBAL WITH MULTI-CURRENCY AND MULTI-LANGUAGE SUPPORT

Added: (Mon Nov 27 2000)

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THE MAGEX DIGITAL COMMERCE SERVICE GOES GLOBAL WITH MULTI-CURRENCY AND MULTI-LANGUAGE SUPPORT

-- Magex is the first to offer integrated multi-currency digital clearing services with localised software and support --

NEW YORK ˇV (November 20, 2000) ˇV Magex today announced that its sophisticated digital commerce solution will include new functionality to the clearinghouse software. In mid-December, versions will be available in multiple languages and will be able to process payments in multiple currencies. Magex is the first digital rights management company which enables international companies to offer digital content on a global and local scale simultaneously through one provider.

At the heart of the Magex digital commerce service is a robust digital clearing house which has been developed to make the buying and selling of digital products, such as music and software over the Internet, easier and more secure. This latest development enables businesses to maximize the full potential of the international digital download market by processing purchases of digital goods in US Dollars, Canadian Dollars, Japanese Yen, British Pounds, French Francs, German Marks and the Euro. The Magex software applications will display text in English, French, German and Japanese and each country will receive local language support from Magexˇ¦s international help desk.

ˇ§For Magex to offer a truly global commerce service it is vital that it is able to recognise the needs of its customers at the local level,ˇ¨ said Patrick Campbell, chairman and CEO of Magex. ˇ§The Japanese d-commerce market alone is estimated to soar to $7.13 billion by 2004. There is huge potential here and we are pleased to be the first to offer a comprehensive digital rights management solution to our customers.ˇ¨

The development of multiple currency and language rights management capabilities will open new horizontal markets for Magexˇ¦s digital commerce services. Already, Magex has made clearing solutions available in Asia and in the UK through companies such as AsiaMix and Channelfly. The new software will support the distribution agreement formed this summer with Mitsubishi in Japan and the Asia Pacific.

Recently, Magex has participated in the launch of Universal Music Groupˇ¦s bluematter™, moved its world headquarters to the U.S. and has expanded its US and European staff to manage its core vertical divisions: publishing, music, video and software.

About Magex:
Magex is a digital commerce service developed to create a secure and efficient environment for the trading of digital content on the Internet. The Magex technology addresses the security and payment problems surrounding digital distribution, enabling fast, safe and easy web transactions.

Incorporating Digital Rights Management from U.S. partner, InterTrust Technologies Corporation, Magex delivers the persistent protection of copyright products such as - music, information and games in any format alongside a simple, trusted payment process. Because businesses can now offer their best products for download with confidence their customers will appreciate the broader, richer choice on offer.

CSFB have estimated the market for the delivery of digital content, such as music or video, over the Internet at some US$27 billion of the total US$275 billion digital content market by 2003. Magex recently raised US$80 million in equity funding. Major shareholders are Goldman Sachs, Capital Z Financial Services, NatWest (now owned by Royal Bank of Scotland), Universal Music Group, InterTrust Technologies Corporation, and Reuters. For more information about Magex visit www.magex.com



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