Co–founders of Stamps.com to Leave Company to Form New Venture

SANTA MONICA, Calif. – December 14, 1999 – The three co–founders of Stamps.com™ – Jim McDermott, Jeff Green and Ari Engelberg – will leave the company at the end of the year to pursue a new venture, Stamps.com President Loren Smith announced today. The parting is amicable and the three will remain as consultants to Stamps.com for an indefinite period of time. McDermott, Green and Engelberg said they plan to announce their new venture sometime at the beginning of next year.

“Jim, Jeff and Ari deserve immense credit for having had the courage and talents to champion a great idea into a thriving business,” Smith said. “We are sad to see them leave, but understand that they are inventors and entrepreneurs by nature and that they feel the time has come to pursue their newest idea. We wish them well in their next challenge. We are especially pleased that they’ve agreed to remain as consultants to Stamps.com.”

Speaking on behalf of the three co–founders, Green said: “Given the success of the follow–on offering, the smooth service launch and the recent addition of many professional managers, we feel that now is the right time for us to move on. We hold Stamps.com near and dear to our hearts and we will always feel part of the company. Above all, we will miss the great people. Still, we are excited by the possibilities of our new venture, and plan to be customers of Stamps.com as we build our new business.”

Stamps.com offers a convenient, cost–effective and easy–to–use service for purchasing and printing postage over the Internet. Its core service is approved by the US Postal Service and is currently the only commercially available offering that requires no additional hardware to purchase and print postage; the user’s existing PC, printer and Internet setup are sufficient. Through partnerships with major companies like America Online, IBM, Microsoft, Office Depot, Quicken.com and 3M, Stamps.com targets the small office/home office and consumer markets. More information about the company can be found at www.stamps.com

Press Contact
Beth Johnson
Fitzgerald Communications
650.264.1457
bjohnson@fitzgerald.com

Investor Contact

Austin Rettig
Investor Relations
310.581.7552
http://investor.stamps.com